New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021

HABITAT

Subscribe for Daily Updates!
flood insuranceAug 24, 2007


Do any of you have flood insurance for your buildings? And if so, could you recommend some insurers? We are right outside the flood zone, but were there to be a severe storm, with street sewers filling up, water would likely race into our basement and subbasement - where we have our storage areas. Even though we have a pump, if the electricity goes out all bets are off, and I am worried about our basic building equipment down below.

Join the Conversation Comments (1)
Flood Insurance - Gerry Aug 29, 2007


It sounds like you're looking for "backup of sewers and drains" and not flood insurance. Talk to your broker about this.
If you need flood insurance, you can get it the national flood insurance program.

Thank you for rating!

You have already rated this page, you can only rate it once!

Your rating has been changed, thanks for rating!

Introduce yourself to other members of Board Talk! Login below or register here.

Board Talk members who registered prior to March 9th, 2016 will need to reset their password.

Register

Forgot your password? Click here

> Join the conversation Comments (1)
flood insurance - rfs Aug 29, 2007


Thanks, Gerry. But what about backup caused by a flood in the streets from a giant storm? The concern is if street sewers quickly fill-up, the waters may get into our 2 street-level elevators.

Thank you for rating!

You have already rated this page, you can only rate it once!

Your rating has been changed, thanks for rating!

Introduce yourself to other members of Board Talk! Login below or register here.

Board Talk members who registered prior to March 9th, 2016 will need to reset their password.

Register

Forgot your password? Click here

> Join the conversation Comments (1)
Flood Insurance - Gerry Sep 11, 2007


Sorry for the delay in responding. I hadn't noticed your question.
Again, you really have to check with your agent as to what your insurer offers to cover the situation but I don't think Flood Insurance is necessarily the sole answer.
Here's the way FEMA describes "flood". "A general and temporary condition of parial or complete inundation of two or more acres of normally dry land area of two or more properties from
Overflow of inland or tidal waters;
Unusual and rapid accumulationor runoff of surface
waters from any source."
They go on to say that "damages caused by a sewer backup are covered if the backup is a direct result of flooding. However, if the backup is caused by some other problem the damages are not covered."
Note, FEMA's definition and private insurer's are not necessarily the same.




Thank you for rating!

You have already rated this page, you can only rate it once!

Your rating has been changed, thanks for rating!

Introduce yourself to other members of Board Talk! Login below or register here.

Board Talk members who registered prior to March 9th, 2016 will need to reset their password.

Register

Forgot your password? Click here

> Join the conversation

Introduce yourself to other members of Board Talk! Log in below or register here.

Board Talk members who registered prior to March 9th, 2016 will need to reset their password.

Introduce yourself to other members of Board Talk! Login below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.

Ask the Experts

learn more

Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

Source Guide

see the guide

Looking for a vendor?