Federally backed mortgages require flood insurance in A & V zones. The NFIP policy covers very little in a basement. Almost all of the affected buildings (residential & commercial) have basements in that area, most of which are finished. These become ‘indoor swimming pools’ if even just a few inches of water flood the streets – water seeks the lowest point. So even if flood water barely touches the ground floor it will inundate the basements and you have a large uninsured loss. You are forced to purchase flood insurance which will not cover the area most likely to flood – your basement!
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Federally backed mortgages require flood insurance in A & V zones. The NFIP policy covers very little in a basement. Almost all of the affected buildings (residential & commercial) have basements in that area, most of which are finished. These become ‘indoor swimming pools’ if even just a few inches of water flood the streets – water seeks the lowest point. So even if flood water barely touches the ground floor it will inundate the basements and you have a large uninsured loss. You are forced to purchase flood insurance which will not cover the area most likely to flood – your basement!