I know this topic has been discussed but I can't find it, so I am asking --- all I see in a new file is an Insurance Binder for flood coverage. Is this sufficient? The binder says effective 11/02/2012 with an expiration of 11/02/2013.

Acceptable proof of flood insurance coverage can be either:

1) A copy of the Flood Insurance Application AND premium payment, or

2) a copy of the Flood Insurance Declarations page.

I hope this helps!

From page 26 of the Madatory Purchase Guidelines.

Acceptable proof of coverage may be a copy
of the Flood Insurance Application and
premium payment, or a copy of the
Declarations Page. The NFIP does not
recognize binders or certificates of
insurance.

Certificates are acceptable for renewal policies.

VIII. POLICY EFFECTIVE DATE
A. Evidence of Insurance
A copy of the Flood Insurance Application and
premium payment, or a copy of the declarations
page, is sufficient evidence of proof of purchase
for new policies. The NFIP does not recognize
binders. However, the NFIP recognizes
Certificates of Insurance for renewal policies.

OCC Glossary of Terms states under Evidence of Insurance - The NFIP does not recognize an oral binder or contract of insurance. A copy of the flood insurance application, premium payment, and declarations page submitted to the lender is sufficient evidence of proof of purchase. So does this mean that on or before closing we must have all 3 of these documents?

1. Application and proof of payment

2. Declaration page.

One or the other.