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#1129276 - 02/12/09 11:29 PM Is detached garage "residential" per Flood
TF Offline
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Joined: Mar 2006
Posts: 9
We have a duplex and detached garage as collateral. Is the garaged considered "Other Residential" or "Non-Residential" for flood insurance requirements? I am trying to determine the amount of insurance required.

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Lending Compliance
#1129286 - 02/12/09 11:34 PM Re: Is detached garage "residential" per Flood TF
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
If it is used as a garage, it most likely is covered under the dwelling policy.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1129293 - 02/12/09 11:39 PM Re: Is detached garage "residential" per Flood rlcarey
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Joined: Mar 2006
Posts: 9
It is not currently insured. The policy is for the duplex only.

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#1129329 - 02/13/09 02:05 AM Re: Is detached garage "residential" per Flood TF
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
From the NFIP flood insurance dwelling policy:

A detached garage at the described location. Coverage is limited to no more than 10 percent of the limit of liability on the dwelling. Use of this insurance is at your option but reduces the building limit of liability. We do not cover any detached garage used or held for use for residential (i.e., dwelling), business, or farming purposes.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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