Answer
Jan 02, 2024 - 07:30 AM
If the policy is being required for a loan closing then your closing date will be used for your effective date.
If the policy is replacing an existing policy then the current policy expiration date will be used as the effective date (unless you are acquiring an NFIP policy, in that case it must be rolling over a current NFIP policy, otherwise a 30 day waiting period applies if replacing a Private Market policy with an NFIP policy)
If none of these apply then depending on which underwriter your policy is being placed with there will be a 10 to 30 day waiting period for the policy to become effective.
If the policy is replacing an existing policy then the current policy expiration date will be used as the effective date (unless you are acquiring an NFIP policy, in that case it must be rolling over a current NFIP policy, otherwise a 30 day waiting period applies if replacing a Private Market policy with an NFIP policy)
If none of these apply then depending on which underwriter your policy is being placed with there will be a 10 to 30 day waiting period for the policy to become effective.
