Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is flood insurance required?

April 26, 2017flood Insurance

0

Posted

Is flood insurance required?

2 Answers

0

Posted

Yes, if your property is found to be in a flood zone area, then federal law requires it, as this insurance is for your protection.

0

Posted

Federal law mandates that we perform a flood search on your property at the time of closing and that we monitor flood map changes for the life of the loan. If your insurable improvement is determined to be located in a Special Flood Hazard Area or Zone A as determined by the Federal Emergency Management Association (FEMA), we require a flood policy and will maintain an escrow account for the payment of premiums.