Is flood insurance only available for homeowners?
Flood insurance is available to protect homes, condominiums, apartments and nonresidential buildings, including commercial structures. A maximum of $250,000 of building coverage is available for single-family residential buildings; $250,000 per unit for residential condominiums. The limit for contents coverage on all residential buildings is $100,000, which is also available to renters.BR> Commercial structures can be insured to a limit of $500,000 for the building and $500,000 for the contents.
Related Questions
- What is the maximum allowable insurance deductible? A: The maximum deductible for homeowners and flood insurance is the higher of $1,000 or 1% of the face amount of the policy.
- Are losses from flood covered under homeowners, renters and business insurance policies?
- How Do You Buy The Cheapest Flood Insurance?
