Coverage under flood policies takes effect only after how many days, with exceptions?

Flood insurance policies typically have a waiting period before the coverage becomes effective in order to prevent individuals from taking out a policy immediately after they learn about a potential flood risk. The standard waiting period for flood insurance coverage to take effect is indeed 30 days from the date of purchase.

There are exceptions, such as when the policy is purchased in conjunction with a new mortgage. In such cases, coverage can become effective immediately to provide protection when it's most needed. Understanding this waiting period is crucial for policyholders, as it emphasizes the importance of securing flood insurance well in advance of any imminent flooding risks.