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

Answer: In some cases
Explanation: Some states may require flood insurance by law, but mostly it's up to the mortgage company to require it, because they have the vested interest in the home.

Answer: In some cases
Explanation: If they have a mortgage they would need flood insurance

Answer: Yes
Explanation: This question is only applicable to homes that carry mortgage liens. If you do not have a mortgage lien against your property, you are not required by law to have flood insurance, nor are you required to carry homeowners insurance. Now, do I think that's foolish if you don't? Yes, absolutely. But the law does not require you to have either.

Answer: Yes
Explanation: Always

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).

Answer: Yes
Explanation: Flood insurance is required by law for high risk flood areas in order to help victims get their property back if there is any damage done to their property as a result of the flooding.

Answer: Yes
Explanation: Per mortgager

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: 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). The amount of flood insurance coverage required by the Flood Disaster Protection Act of 1973, as amended by the National Flood Insurance Reform Act of 1994, is the lesser of the following: The maximum amount of NFIP coverage available for the particular property type, or The outstanding principal balance of the loan, or The insurable value of the structure. If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it. It is recommended since historically about one-in-four flood claims come from these moderate-to-low risk areas. Note that if during the life of the loan the maps are revised and the property is now in the high-risk area, your lender will notify you that you must purchase flood insurance.

Answer: Yes
Explanation: assuming there's a mortgage

Answer: No
Explanation: In Florida homeowners are required to buy flood insurance if the home is mortgaged.

Answer: In most cases
Explanation: Yes, in most high-risk flood areas they require home owners to carry flood insurance.

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.

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.

Answer: No
Explanation: Flood insurance coverage is required by the investor or lender that is underwriting the loan.

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).

Answer: Yes
Explanation: All homes in a flood zone must have flood insurance and this can be costly.

Answer: Not sure
Explanation: They are required by the lender. So if you want a loan to buy a house you will be required to get flood insurance if the home is in a flood plain.

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.

Answer: Yes
Explanation: All homes and business owners in a High Risk Area with mortgages from federally regulated or insured lenders are required to purchase flood insurance.

Answer: Yes
Explanation: FEMA requires flood insurance on properties located in designated flood zones.

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.

Answer: In most cases
Explanation: The determination is based upon FEMA. FEMA determines which properties are required to have flood insurance.

Answer: Yes
Explanation: If the lender is backed by any kind of federal program or regulation, Flood insurance is required.

Answer: In some cases
Explanation: Really don't know the ins and outs on this one