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Are homes in high-risk flood areas required by law to have flood insurance?

In most cases
In some cases
Not sure
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Question: Are homes in high-risk flood areas required by law to have flood insurance?
Top Answer (53% of 79 votes): Yes.

Answer: In most cases
Explanation: If you are in a high risk area but your home is free of any mortgage or lien, you can opt out of flood insurance. But please don't.
Buckhead Home Loans
Answer: Yes
Explanation: Always
Belocura Cabinetry
Answer: Yes
Explanation: Under federal law, the purchase of flood insurance is mandatory for all federal or federally related financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs).
Rite Choice Insurance
Answer: Yes
Explanation: If you are in a flood zone, you are required to have flood insurance.
Mortgage Now
Answer: Yes
Explanation: Per mortgager
HHS serviced
Answer: Yes
Explanation: Structures located in high-risk flood areas have a significant chance (26 percent) of suffering flood damage during the term of a 30-year mortgage. A home mapped in a high-risk area is 2 1/2 times more likely to suffer damage from a flood than a fire in the lifetime of a typical mortgage! For these reasons, flood insurance is required by law for buildings in high-risk flood areas as a condition of receiving a mortgage from a federally regulated or insured lender.
Answer: Yes
Explanation: Flood insurance coverage is required for all residential buildings on the mortgaged premises if any part of the structure is located within an SFHA. If two or more residential structures are located on a security property (for example, a principal structure and a guest house), all structures with any part in an SFHA must be covered by adequate flood insurance. (For the purpose of Fannie Mae’s flood insurance requirements, the “principal structure” is the primary residential structure on the security property.)
Amerifirst Home Mortgage
Answer: Yes
Explanation: assuming there's a mortgage
BCU Risk Advisors
Answer: No
Explanation: In Florida homeowners are required to buy flood insurance if the home is mortgaged.
Certified Inspectors, LLC
Answer: In most cases
Explanation: If the property is mortgaged
Loan Depot
Answer: In most cases
Explanation: High flood risk can vary and can change at any point. Most flood A areas require flood insurance regardless of flood history or not. County determines flood Zoning.
Florida Central Credit Union
Answer: No
Explanation: You are not legally required to have flood insurance in CA but if you have or want to have any type of a home loan, your lender will require flood insurance to protect the asset when the property is designated high risk.
OneRay - OneTrust Home Loans
Answer: In some cases
Explanation: If you have a federally backed mortgage on a home located in a high-risk zone, federal law requires you to purchase flood insurance to secure a loan. Also, if you've received a federal grant for previous flood losses, you must have a flood policy to qualify for future aid.
State Farm Insurance
Answer: In most cases
Explanation: High-risk flood areas are not static designations and as such, variances may be obtained. In certain circumstances residential customers are able to ameliorate flood potential hazard with structural enhancements to the physical structure(s).
Atlantic Mortgage and Finance Corporation
Answer: Yes
Explanation: All homes in a flood zone must have flood insurance and this can be costly.
EA Realty LLC
Answer: Yes
Explanation: We do a flood certification on each customer. If in a flood zone, flood insurance would be required.
American Equity Mortgage, Inc.
Answer: Not sure
Explanation: The only requirement would be imposed by the lender, not the law.
Answer: No
Explanation: It's not illegal, just prudent. The mortgage company may require flood insurance to protect their interest.
Lockhart's Insurance Services
Answer: In most cases
Explanation: If there is a loan on the home, the lender will require the insured to carry flood insurance. If the home is owned outright, it is up to the insured whether or not they purchase flood insurance.
Hannah Swanson State Farm Insurance
Answer: Yes
Explanation: FEMA requires flood insurance on properties located in designated flood zones.
Gulf Coast Community Bank
Answer: In most cases
Explanation: If you are in certain Flood zones your mortgage company will require you to obtain flood insurance that is equal to or greater than your homeowners insurance. Not sure if your in a flood zone? Give us a call we can help.
Fisher Family & Associates, Allstate Insurance
Answer: In most cases
Explanation: The determination is based upon FEMA. FEMA determines which properties are required to have flood insurance.
Beddard Mortgage Team
Answer: Yes
Explanation: To satisfy the mortgage company
Liberty Mutual
Answer: Yes
Explanation: If the lender is backed by any kind of federal program or regulation, Flood insurance is required.
G.L. Anderson Insurance Services, Inc
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Related Questions

My house has flooded in the past. Can I still purchase flood insurance? Top answer: Yes

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Can I still buy flood insurance if I don't live in a high-risk flood zone?Top answer: Yes

Does flood insurance typically cover earthquake-related flooding?Top answer: No

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