How much flood insurance is required AND how do we determine replacement cost? We are insuring a mobile home only - 1981.
It would be the lesser of (1)loan amount - $13,022; (2) max NFIP - $250,000; (3) replacement cost - ?
What are we to base the RCV on in this situation?
A mobile home dealer says it is worth @ $8000; the hazard policy is for $30,000; customer currently has $70,000 flood insurance coverage; in bank "inspection" value of $25,000.

If you already have 70k your would be over the lesser of your loan amount. You should be ok.

Yes, I know. However, we send a notice to the customer 45 days prior to expiration date of the flood policy. In the notice we tell them the how much is required. We were trying to determine what replacement cost value was on the mobile home.

Unless you have a Forced Placed MPPP policy in place, you can't start your force placement procedures before the policy expires. You can remind them their policy will expire, but the "45 day clock" doesn't start until the policy expires and then you notify them.

If they have $30M in hazard insurance, why do you they have $70M in flood insurance?

boy howdy, they sound overinsured! Usually with a mobilehome, the flood coverage is a "rider" to the regular insurance.

good grief, David...could you not sleep last night? I just noticed the time of your post up there!

You guessed right. I couldn't sleep, so I did my next favorite thing - read BOL posts!