One of my IPs is just one house inside a flood zone. Prior to the 2011 Brissy floods, it wasn't even in the flood zone. It's a highset, so the house itself is already a couple of metres above ground level. It would save me over $2k a year if I were to remove the flood cover, but keep the rest of the building policy. I'm covered for public liability through my landlord insurance. And I have a contingency fund and other sources of rental income, so the loss of rent is no big issue, but obviously the cost of rebuilding if my house were to float away is something I'd have to bear. Am I mad?