Quote:
Originally Posted by scramboleer
Hi there,
It was a bit of a hassle getting the paperwork processed with the lender, but the condo association itself has flood insurance so I wasn't required to get individual insurance for my unit. The Orens Bros have been very helpful with regard to this and immediately faxed a copy of the building's flood insurance to my lender.
Cheers,
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While the building should have it to cover building parts that are vulnerable I wouldn't expect you to need it on your unit unless it is in the basement. If the building had to be evacuated because of a flood would your "loss of use" coverage provide living quarters if your unit isn't actually damaged? Do you have a nice high "loss assesment" amount to cover a building assesment to pay for flood damage?