I understand that a detached garage receives 10% flood insurance coverage if the garage is used only for parking & storage.

We have a borrower with 2 detached garages that are used for parking & storage. How does insurance coverage work for 2 detached garages?

Thanks.

The reference states the 10% allowance applies to "a" detached garage and that all other buildings on the property require a separate policy.

It would be my opinion the 10% only covers one detached garage however that is strictly my opinion based on the use of the word "a".

Thanks.

Can you site me a page in the Mandatory Flood booklet on this? I'm not familiar with it

Thank you. Since I didn't know this, please help me with my brain freeze. So one standard policy would cover a main house with attached garage and provide 10% (of the value???) to a detached garage that's only used for parking vehicles?
So how would an examiner feel about only 10% coverage on the detached garage??? Doesn't quite make sense to me.

It's not 10% of the value. It's 10% of the policy amount. If you have a $200,000 policy on the house, $20,000 of that can be allocated to the garage. You'll probably have an issue with the examiners, though, if it's a really nice garage with a RCV of say, $40,000.

The second building needs a separate policy.

That's my concern, thanks. And MyBrainHurts too.