Residential Flood Insurance For Your Condo

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Residential Flood Insurance For Your Condo

Condo’s are at risk of flooding too, and should be covered by residential flood insurance. You might think that you’re sitting pretty if you live a couple of floors up, but that won’t do you much good if the building goes floating off down the street carrying all of your worldly goods now will it . . . it does happen!

If you own your condo then you need to think about residential flood insurance to cover both the building and the contents, but if you are a tenant then the content cover should be sufficient for you. Prices start remarkably low for contents only cover (especially if you’re in an area which is classified as moderate to low risk), so it’s really not worth taking the risk and not insuring your contents against flood damage.  Residential flood premiums for contents only can start for as little as $49, think about it, how much of your stuff could you replace for $49 . . . I rest my case m’lord!

There is something known as a RCBAP, a Residential Condominium Building Association Policy which is available for residential condo associations to make sure that the building is covered in case of a flooding emergency, yes, even for those who live on the very top floor.

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