Flood Insurance P&C

• 222 rule


  To help memorize key things about flood insurance:
• 30-day waiting period


  For new flood insurance policies, with some exceptions:

  • No waiting period for government-backed loans
  • No waiting period when refinancing and new mortgage requires flood insurance
  • No waiting period when policy is transferred to a new owner
• Flood vs. not flood

  Mudslide is considered a flood, but landslide is not

  Sewer backup is not considered a flood
• Maximum flood insurance coverage

  $250,000 for coverage A (building/structure)

  Separate deductibles for coverage A and coverage C (contents)
• Flood insurance is a government-run program, not covered by homeowners insurance
• Flood insurance questions are usually tied into other chapters, not a standalone topic