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Flood Insurance - Do You Need It? If your unit is at
ground level and you reside in an area that may be prone to flooding, you should consider a Flood Policy. Losses due to
(rising water) flood are covered under the Federal Flood Insurance program. That is why all property policies published
by the respective state's Department of Insurance exclude coverage for rising water losses. ALSO.....what if your unit is
located in a development which has community/common grounds located in an area which may be subject to flooding? You have
a "Loss Assessment" exposure for losses which occur to those grounds. Any assessment to you as a unit owner, due to flood
damage, can only be covered by your Flood Policy. Any properly laid out community should be designed to minimize the potential
for flood damage to community/common ground. But it's an issue which one may wish to review so as to assess any potential
liability.
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