If a property is in a flood zone (usually A, AE, V and VE zones,) the association’s board should purchase flood insurance. Determination of a property’s status relating to the need for flood insurance may be established by contacting the Federal Emergency Management Association (FEMA). Flood insurance coverage does include the slab and utility lines as this insurance assumes these elements may not survive a flood event.

In large condominium developments some buildings may be in a flood zone while other buildings are not. The association’s board may decide to insure the entire property or just the buildings in areas identified as being at risk of flooding. Unlike hazard insurance, flood insurance purchased by the association covers a flooded unit’s finishes such as floors, walls, ceiling finishes, electrical and plumbing fixtures, cabinets and appliances. The association’s flood insurance does not cover the owner’s personal belongings, such as furniture, electronics, artwork and clothing.

It should be noted that an association’s flood insurance covers flooding from ponds, rivers, sea water or ground water coming up through a unit’s flooring.  Most flood insurance policies do not cover damage incurred as a result of “Wind Driven Rain.”  Wind driven rain policies may be purchased under a separate policy.