Do I need flood insurance for my condo unit or the building as a whole?
If you are on the second floor you should not be required to carry Flood insurance at all. Those are form letters that go out to everyone who lives is a Special Flood Hazard Area, and the program cannot tell who is in a condo (let alone what floor they are on) versus who is in a single family home. My advice is to call the mortgage company’s flood department and explain that you are in a condo and on the second floor. Most mortgage companies are not going to require that you carry coverage, and if they say they do then ask to speak to a supervisor. Most often the mortgage company is interested in the Association’s policy, not your individual one. As far as the condo and having coverage for the common areas, that would only be covered under a Residential Condominium Building Association policy. Are you sure your association does not carry one? Ask your management company for the name and phone number of the insurance agent for the association.
