So we have a property address that consists of 7 different buildings (it is an apartment complex) and two of the buildings are in a flood zone. We received a single flood insurance policy, with a breakout of coverage for the two buildings (specifically, the policy document states: “Flood Coverage Breakdown (per building): Building #2: $500,000, Building #3: $270,000”. Can we accept one policy this way, or do the flood regulations required a separate policy on each structure in a flood zone? If one policy is required for each structure, where in the regulation/guidance is this specifically stated?

Is this a private policy? There is no requirement that each building have a separate private policy.

Yes, private. Can you direct me to where specifically this is stated?

Hard to find something that is not stated one way or the other. There is nothing that says that each building has to be covered under a separate policy either.

Even the NFIP has the following in the NFIP Insurance Manual, but in the 30+ years I have been at this, I have never seen one.

The Scheduled Building Policy provides a group of policies
for buildings that have the same ownership and the same
location; the properties where the buildings are located must be
contiguous. The policy is available to cover 2 to 10 buildings and
requires the insured to designate a specific amount of insurance
for each building.

NFIP requires a separate application for each building and/or
contents policy;

• The Federal Policy Fee is $50 per building; and

• The HFIAA Surcharge is charged for each building.