Condo Insurance & Flood Zones

I live in a condominium complex in Venice, Florida. I have several questions.

  • How can I find out if this complex is in a flood zone?
  • I have been told that if the association itself does not carry a blanket flood insurance policy then I cannot cover my individual unit with flood insurance.  Is this true?
  • I have also been told that if any part of the entire complex is considered in a flood zone that the complex must carry a blanket policy.  Is this true?

I would appreciate any assistance you can give me in this matter.

Answer: First of all, I am not aware of whether your condominium or its specific location would be considered to be in a flood zone. You can check with your state Department of Insurance and they should be able to provide you with information on flood zones or point you in the right direction to get the most current information.

As for your second question, I would recommend speaking with a couple of local insurance brokers (just the brokers in this case). I would particularly suggest mortgage brokers who are very knowledgeable about condo insurance. You might want to ask them if they have helped clients with condo claims because this is where the real experience is gained. Having said that, in general, you should be able to purchase some level of flood insurance for contents and the parts of the structure for which you are responsible.  However, you would not be able to insure the structure itself.

As for your third question, all condominium corporations are required to have an insurance policy for the entire complex. Whether or not they specifically carry flood insurance is the decision of your condominium board. If you have any question about the level of insurance carried by your complex, you can always request a copy of the insurance policy from your Board.

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