Flood Insurance for Coop?

Who's the letter from?

The co-op's insurance doesn't cover your contents, the cost of other housing while you're displaced, etc., so if flood insurance is required for your building it's a good idea to have it for yourself.

If it's possible that your unit would be innundated during a storm (1st floor? 2nd floor? depending on location), your homeowners may not cover the damage without a specific flood rider. If there were a flood and you couldn't use your apt (don't want to walk up 20 flights of stairs while the elevator is being repaired), your homeowners may not cover the cost of a hotel room -- depends on the definitions and coverages in your specific policy.

You also need to make sure your policy covers other 'floods', like your upstairs neighbor overflowing their tub, or, when your dishwasher floods the downstairs neighbor's unit you're covered for their damages.

and don't forget that most people don't shut the water to their washing machine off when it's not in use.

I know my homeowner's insurance covers flooding from neighbors. During Sandy, none of the apartments had water damage. The building had some water issues in one area and work has begun to eliminate the possibility of that happening in the future.

I'm wondering if the mortgage company is mandating separate insurance for my apartment.