Several factors, including the number of properties with flood protection, affect FEMA’s rating system for each community, which can keep premiums down. “It encourages maximum coverage,” Calleros Gauger said.  So, say, you’re living on the fifth floor of a condo. Do you need flood insurance?  “But your condo (HOA) needs it, because it touches the ground in the danger zone,” Calleros Gauger said. “But the individual unit on the fifth floor doesn’t have to have separate coverage.”   Read the article………………………..