Flood Insurance Has a 30-Day Wait. Here Is When It Doesn't.

Hurricane season runs through November 30, and one question I get every fall is whether a homeowners policy covers flooding. In most cases it does not. The Texas Department of Insurance points out that a standard homeowners or renters policy does not cover water that comes into the house from a flood. That takes a separate flood policy, and most of those in Texas are written through the National Flood Insurance Program.

The part people miss is the timing. FEMA says a new NFIP policy typically has a 30-day waiting period before it goes into effect. If a storm is already in the Gulf, buying a policy that week will not help with that storm. There are two main exceptions. If a government-backed lender requires flood coverage as part of your loan, including when you buy or refinance, the policy can start without the 30-day wait. There is also an exception tied to a community flood map change. So if you already own and do not have flood coverage, the time to call your agent is now, on a calm day. If you are buying, ask for a flood quote early in the option period so the cost is part of your decision, not a surprise at closing.

In more than 18 years of Houston real estate, this is one of the conversations I make sure to have with every client. If you want help thinking through flood risk on a home you own or one you are looking at, call me at 281-818-8177 or book a time at le-rocks.com.