Question

If a flood is bad enough to result in Presidential disaster declaration, why should my city need flood insurance policies on the buildings it owns in floodplain?

a) They don't need insurance after a declaration
b) Insurance ensures faster recovery
c) The federal government covers all damages
d) Insurance doesn’t cover government buildings

Answer 1

Flood insurance policies on buildings owned by a city in a floodplain are still necessary even if a flood is bad enough to result in a Presidential disaster declaration. Insurance ensures faster recovery and insurance policies don't cover government buildings.

Step-by-step explanation:

Flood insurance policies on buildings owned by a city in a floodplain are still necessary even if a flood is bad enough to result in a Presidential disaster declaration. This is because:

1. b) Insurance ensures faster recovery: In the aftermath of a flood, having flood insurance can expedite the recovery process for the city's buildings by providing financial assistance for repairs and replacement.
2. d) Insurance doesn’t cover government buildings: Flood insurance policies typically do not cover government-owned buildings, so having a separate insurance policy specifically for these buildings is important to protect the city's assets and ensure they can be restored or replaced in the event of a flood.