Insurance Lesson

Flood Waiting Period

Flood insurance is designed to get before immediate risk.

Lesson Script

What This Video Covers

When you purchase a flood policy, there is a mandatory 30-day waiting period before the coverage starts. This means that once the premium is paid, no claims will be paid for losses unless they occur after the waiting period. So when the weather channels show a hurricane approaching, it's probably too late to worry about flood coverage.
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Managing General Agent

A managing general agent is an intermediary with insurer authority to underwrite, bind, price, or administer certain policies or programs.