Which entity is eligible for Flood Insurance in a participating community?

Which entity is eligible for Flood Insurance in a participating community?

• A. unoccupied warehouse
• B. vacant land
• C. non-building property
• D. condominium associations

Answer: (D)

Condominium associations are eligible because the flood insurance program offers a specific policy for condominium building associations to insure the structure and common areas they own. This type of policy is designed for the legal entity that manages a multi-unit building and its shared facilities, making the association the insured. Other options describe property or uses that aren’t covered under this association-specific flood policy—land or non-building property isn’t insured as flood risk, and a standalone warehouse would typically be covered under other commercial property policies rather than a condominium association policy.

Condominium associations are eligible because the flood insurance program offers a specific policy for condominium building associations to insure the structure and common areas they own. This type of policy is designed for the legal entity that manages a multi-unit building and its shared facilities, making the association the insured. Other options describe property or uses that aren’t covered under this association-specific flood policy—land or non-building property isn’t insured as flood risk, and a standalone warehouse would typically be covered under other commercial property policies rather than a condominium association policy.