Why Should I Buy Flood Insurance?
When the tragic floods hit Ron’s Cedar Rapids hometown, he sent me two e-mails over a week or so telling about the situation. Those e-mails, totally unedited, are below. It’s a compelling read,…
Personal Lines
Preferred Risk Policy Eligibility
Over the past few years, eligibility for the PRP has expanded, making a lot more policyholders eligible for the savings under the PRP. It’s in the best interest of the…
Other Structures and NFIP Coverage
When looking at the National Flood Insurance Program (NFIP), the other structures coverage is so limited that it might almost be thought of as, “There isn’t any.” To adequately protect…
Flood Insurance and the 30-Day Wait
An insured wanted to buy a flood policy even though it was not required by the lender. The WYO underwriter said that since the policy was not required by the…
HOA, NFIP, RCBAP, GP
If a homeowners association (HOA) is not established as a condominium, the Residential Condominium Building Association Policy (RCBAP) can’t be used. This can create several problems, particularly if someone tries to…
Grandfathering and the NFIP
Throughout the country, flood maps are changing. For some policyholders this is good news, while for others it can be bad news. As flood maps change, the premiums for flood…
Condo Unit Owners – Why Carry Building Coverage?
It’s a bizarre statement, but here goes anyway: “Condo unit owners, even those on upper floors, should consider purchasing a dwelling flood policy that includes both contents coverage and building…
Flood Policies, Condo Units, and Additions and Alterations
In many states, what is covered under an HO-6 and a condo association master policy is governed by state law. That may not be the case when there is a…
