Do you need to have flood insurance in a flood zone?

Answer Not if you don't have a mortgage.But if you have a standard mortgage, one of the conditions of that mortgage, is that you carry both hazard and flood insurance, if the property is located in a high... Read More »

Top Q&A For: Do you need to have flood insurance in a flood ...

Are lenders requiring flood insurance in flood zones?

On One Hand: Insurance is NecessaryAccording to the United States Department of the Treasury, banks have to require you to purchase flood insurance before giving you a mortgage if the property is o... Read More »

What is national flood insurance Zone V?

The Federal Emergency Management Agency (FEMA) is responsible for classifying land according to its flood risk. This information is made available to the public through Federal Insurance Rate Maps.... Read More »

IF my upstairs condo is untouched by a flood but the building's ground floor is damaged so badly that the entire building is unlivable would my flood insurance protect me?

Let's first review what a condo is. A condominium is an arrangement in which you own your own living space outright (your condo apartment), and you share joint ownership (with all the other condo o... Read More »

Does a person need flood insurance?

According to the National Flood Insurance Program, homes and businesses located in high risk flood areas with federally regulated mortgages are mandated to have flood insurance. Although not requir... Read More »