Flood Insurance?

[Naga A.]

I wonder if you buy a separate flood insurace for your rental properties. I have rental properties in Tampa, Atlanta and Las Vegas. I do not worry about Las Vegas, but flood is a threat to my houses in Atlanta and Tampa.

My property insurance excludes any damages caused by flood, which I think is typical.

So, do you guys buy separate flood insurance for your rentals? If so, how much you pay and any recommendation for insurance company?

[Joe Bertolino]

All flood insurance is backed by the NFIP, the carriers just service the policies. The rates are all the same based on the floodzone and elevation. Buy it from the same agent that provides the landlord insurance. It is inexpensive if you are not in a flood zone. 30%+ of all flood claims are from water/sewer back ups that are generally not covered on landlord policies.