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Under Section 13 of the Homeowner Flood Insurance Affordability Act of 2014, do we have to obtain flood insurance for a property that has only one structure on it, if the structure is not attached to any residential structure? – IBA Compliance Connection

IBA Compliance Connection

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Under Section 13 of the Homeowner Flood Insurance Affordability Act of 2014, do we have to obtain flood insurance for a property that has only one structure on it, if the structure is not attached to any residential structure?

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No, we believe the Section 13 exclusion would apply (meaning you would not have to obtain flood insurance) to a building that is part of a residential property but is detached from the primary residential structure and does not serve as a residence. The 2014 law that you referenced added this exemption, which became effective March 21, 2014.

For resources related to our guidance, please see below:

  • Section 13 of the Homeowner Flood Insurance Affordability Act of 2014, 42 USC 4012a(c)(3) (“Notwithstanding any other provision of this section, flood insurance shall not be required, in the case of any residential property, for any structure that is a part of such property but is detached from the primary residential structure of such property and does not serve as a residence.”)