does a borrower have to obtain flood insurance for a condo located on the 3rd floor of a building if the property is listed in a flood zone?

Asked by Lorane forrester TOBAS, Dallas, TX Thu Mar 7, 2013

Help the community by answering this question:

+ web reference
Web reference:


Tammy Benkwitt’s answer
Tammy Benkwi…, Agent, Somers, NY
Thu Mar 7, 2013
Most condos will have insurance to cover commonly owned area. In this respect, you may be paying for flood insurance through your common charges.

If your third floor unit is impacted because the basement is flooded and that harms your heating service or your plumbing, maybe there is a purpose.

I would be interested in knowing what your insurance company says.
0 votes
Jeannette Ba…, Agent, Brooklyn, NY
Thu Mar 7, 2013
Great answers, best bet contact your insurance agent but I did have a client in a similiar circumstance and one agency said it was a must while she went with another that didn't require it. Wish you the best and if you ever need any help buying, selling or renting feel free to call Jeannette Batsikas 718-635-2421
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Thu Mar 7, 2013
Most of the time a real condo owns the building and you, as an owner, own the unit itself. We call it owning paint to paint or just the inside wall to the other wall. Check with your condo association to see if they maintain flood insurance on the building and property there.
0 votes
Ron Thomas, Agent, Fresno, CA
Thu Mar 7, 2013
Wouldn't that be a good question for your Insurance Agent:
Possibly, some will, and some won't.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more