Quote:
Originally Posted by creekster
I should probabyl read the thread more carefully before popping off, but hey, why bother?
Typically to get flood coverage yuou need HO coverage first. I suspect that somewhere somehow it can be done otherwsie, but I am not aware of it. (this is residential first party we are talking about, not commercial.)
People try to urge carriers to consider covered perils the cause of laoss all the time. I have many times heard people joke that their EQ insurance is the butane lighter they keep by the gas line.
|
No, this isn't the case. To get a mortgage, you typically are required to have HO insurance, and if you are in flood plain you are typically required to get flood insurance too. This isn't always the case. HO insurance is typically more expensive than flood insurance (depending on the zone FEMA has placed you in), so when insurance payments lapse, it isn't uncommon for the HO insurance policy to lapse first.
Don't tell ERCougar this, though. He believes in the history of mankind no single person has ever had flood insurance without HO insurance.