If you do not buy flood insurance, your mortgage company will obtain "forced place" flood insurance on your dwelling. If you live in an area designated by the federal government as a "high risk” flood zone your mortgage company will require you to buy flood insurance. To find out what type of flood zone you live in, visit the NFIP website ( ) or call (888) 379-9531. The NFIP requires separate flood insurance policies for each building, and separate flood insurance policies covering belongings inside each building. Businesses can obtain up to $500,000 of flood insurance coverage on business structures and up to $500,000 on the business structure contents. Homeowners and renters can obtain up to $100,000 in coverage for their contents. Homeowners can obtain up to $250,000 of flood insurance coverage on their residence. The NFIP also offers policies to cover renters, residential condo associations, and businesses. The NFIP offers a policy to cover damage to your dwelling, and one to cover your personal belongings. There is generally a 30-day waiting period before a new flood insurance policy takes effect. Arizona Property and Casualty Insurance Guaranty Fund FAQs.Arizona Life and Disability Insurance FAQs.Real Estate Appraisal & Property Tax Agent.Consumer Loan Standard Rate of Charge Report.File A Complaint Against an Insurance Entity.File A Complaint Against a Financial Institution or Enterprise.File A Complaint Against an Appraiser, AMC or Property Tax Agent.
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