We are refinancing a consumer real estate loan. The loan currently has 2 separate flood insurance policies. One is for the dwelling and one is for a shed. We only require flood insurance on the dwelling. Can we add the 2 policies together to determine adequate coverage? Or do we just need to ensure there is adequate coverage on the dwelling?

Both policies added together there is adequate coverage. However, if we are looking at the dwelling policy by itself, there is not adequate coverage.

Thank you.

Must be one heck of a shed. If the shed is not over insured, then I would say that you could - but you give very little detail about the specific circumstances.

The detached structure is more like a shop/garage. There is $22,000 of flood insurance coverage on the detached structure; I don't think it is over insured.

I will add the 2 policies together. Thank you.