Flood Insurance Waiver
Answer by Andy Zavoina and Lucy Griffin, BOL Gurus
Question: I'm needing to know what the best way is to document the file for a waiver of flood insurance on agricultural land (with a barn on it). Is flood insurance really required?
Answer by Andy Zavoina: BIO AND CONTACT INFO
If it has an insurable structure on it, I do not know that any "waiver" is available.
This may not be the opinion of my employer and should not be relied upon as legal advice.
Answer by Lucy Griffin: BIO AND CONTACT INFO
Any improvement, including a barn, triggers the flood insurance requirement. There is no such thing -- absolutely no such thing -- as a waiver of flood insurance!
Comprehensive Flood training is available for purchase through the BOL Banker Store. Purchase the 2-hour programFlood Dodging the BIG Wave -- presented by Lucy Griffin and David Dickinson, today!
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