Effective date and time of coverage under the Standard Flood Insurance Policy (new business applications and endorsements; the waiting period)

What this document is

44 C.F.R. s. 61.11 - Effective date and time of coverage under the Standard Flood Insurance Policy (new business applications and endorsements; the waiting period) is a regulation published by Federal Emergency Management Agency; Office of the Federal Register / National Archives (Electronic Code of Federal Regulations, eCFR). It is one of the documents that insurance license exam questions are written from, including property & casualty, personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 44 C.F.R. § 61.11(e) (Effective date and time of coverage under the Standard Flood Insurance Policy)

  “(e) Adding new coverage or increasing the amount of coverage in force is permitted during the term of any policy, subject to any applicable waiting periods. The additional premium for any new coverage or increase in the amount of coverage will be calculated pro rata in accordance with the rates currently in force.”

• 44 C.F.R. § 61.11(d) (Effective date and time of coverage, general rule)

  “(d) Except as provided by paragraphs (a), (b), and (c) of this section, the effective date and time of any new policy, added coverage, or increase in the amount of coverage will be 12:01 a.m. (local time) on the 30th calendar day after the application date and the presentment of payment of premium;...”

• 44 C.F.R. § 61.11(a) (Effective date and time of coverage, revised map)

  “(a) During the 13-month period beginning on the effective date of a revised Flood Hazard Boundary Map or Flood Insurance Rate Map for a community, the effective date and time of any initial flood insurance coverage shall be 12:01 a.m. (local time) on the first calendar day after the application...”

• 44 C.F.R. § 61.11(b) (Effective date and time of coverage, loan closing)

  “(b) Where the initial purchase of flood insurance is in connection with the making, increasing, extension, or renewal of a loan, the coverage with respect to the property which is the subject of the loan shall be effective as of the time of the loan closing, provided the written request for the...”

• 44 C.F.R. § 61.11(c) (Effective date and time of coverage, post-wildfire)

  “(c) Where the following conditions are met, the effective date and time of any initial purchase of flood insurance coverage for any privately-owned property will be 12:01 a.m. (local time) on the first calendar day after the application date and the presentment of payment of premium: (1) The...”

• 44 C.F.R. § 61.11(f) (Effective date and time of coverage, application reaching the NFIP)

  “(f) With respect to any submission of an application in connection with new business, the payment by an insured to an agent or the issuance of premium payment by the agent does not constitute payment to the NFIP. Therefore, it is important that an application for flood insurance, as well as the...”

• 44 C.F.R. § 61.11(c)(2) (post-wildfire purchase window)

  “(2) The flood insurance coverage was purchased not later than 60 calendar days after the fire containment date, as determined by the appropriate Federal employee, relating to the wildfire that caused the post-wildfire conditions described in clause (1).”

• 44 C.F.R. § 61.11(f) (ten calendar days)

  “If the application and the full amount due are received at the office of the NFIP within ten (10) calendar days from the date of application, the waiting period will be calculated from the date of application.”

• 44 C.F.R. § 61.11(f) (certified mail)

  “Also, as an alternative, in those cases where the application and premium payment are mailed by certified mail within four (4) calendar days from the date of application, the waiting period will be calculated from the date of application even though the application and full amount due are received...”

• 44 C.F.R. § 61.11(f) (late receipt)

  “Thus, if the application and premium payment are received after ten (10) calendar days from the date of the application or are not mailed by certified mail within four (4) calendar days from the date of application, the waiting period will be calculated from the date of receipt at the office of the NFIP.”

• 44 C.F.R. § 61.11(f) (coverage added by endorsement)

  “To determine the effective date of any coverage added by endorsement to a flood insurance policy already in effect, substitute the term endorsement for the term application in this paragraph (f).”

• 44 C.F.R. § 61.11(g) (Write Your Own companies)

  “(g) The rules set forth in paragraphs (a) through (f) of this section apply to Write Your Own (WYO) companies, except that agents must mail the premium payments and accompanying applications and endorsements to the WYO company and the WYO company must receive the applications and endorsements, rather than the NFIP.”

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