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Why You Might Need Flood Insurance When You Live in a High Rise Condominium Next to the Ocean


High rise condominiums next to the ocean are subject to storm surge and erosion. While rare, I have represented a number of condominiums that collapsed during a hurricane event.

Hurricane Nicole has collapsed at least one Florida condominium. A news outlet reported the following:

A seven-story condominium building in Daytona Beach partially collapsed Thursday after Nicole, which made landfall south of Vero Beach as a Category 1 hurricane, brought strong winds, rain and rough surf to the area.

Pirate’s Cove was one of at least 13 buildings evacuated Wednesday due to the threat of collapse from powerful storm.

Condominium Associations are entitled to insure to a total of $250,000, time the number of units in the condominium. Unit owners can obtain National Flood policies up to an additional $250,000. In addition, associations and unit owners can purchase excess private flood insurance to guard against these types of rare occurrences.

The bottom line is that storm surge from a hurricane can undermine and collapse tall structures. Flood insurance covers this event and protects investments far above where the surge strikes.


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