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#1674892 - 03/08/12 03:39 PM Hazard Insurance includes Flood(M/H)---HUD
La. Lady Offline
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We have a loan with the property in a flood zone. The insurance for Flood is combined in the Hazard Insurance with one total amount.

When listing on the HUD...is the Hazard Insurance itemized to show the amount for Flood or should it be as one total amount as indicated on the policy.

We have a HUD that has listed the Flood separately from the Hazard.....

The Escrow Analysis didn't break it down that way. It shows the entire amount under Homeowners.

Now what?
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Flood Compliance
#1674970 - 03/08/12 04:41 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
RR Joker Offline
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Since it's billed together, I think your escrow is okay. That's what I THINK anyway!
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#1675070 - 03/08/12 06:03 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
La. Lady Offline
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Okay...so you think that it should be broken down on the HUD
or that it can be done either way on the HUD
Last edited by Queenof--Concern; 03/08/12 06:03 PM.
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#1675077 - 03/08/12 06:06 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
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I would think either way. The insurance company name is the same and it's billed as one total policy. If it's itemized out, then I'd think you could go either way.

Since 903 is hard-coded as "homeowner's", if you can break it out between homeowner's and flood it would make the most sense, I think.
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#1675099 - 03/08/12 06:25 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
rlcarey Offline
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I guess I would question any hazard/flood policy that is billed as one total policy. How did you arrive at your proof of flood insurance?
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#1675538 - 03/09/12 02:58 PM Re: Hazard Insurance includes Flood(M/H)---HUD rlcarey
La. Lady Offline
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We looked the policy
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#1675557 - 03/09/12 03:17 PM Re: Hazard Insurance includes Flood(M/H)---HUD rlcarey
Dan Persfull Offline
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Originally Posted By: rlcarey
I guess I would question any hazard/flood policy that is billed as one total policy. How did you arrive at your proof of flood insurance?


Randy, from the subject title it appears this is one of those mobile home "combo" policies that are still floating around.
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#1675577 - 03/09/12 03:33 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
rlcarey Offline
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I haven't seen one of those for years. I was under the impression that most insurance companies quit issuing them.
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#1675594 - 03/09/12 03:42 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
Dan Persfull Offline
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I remember reading something a few years ago where these policies were to be discontinued but from this and other past posts it appears they are still around. I would venture a guess they may be existing policies that were possibly grandfathered as long as they are not allowed to lapse by the policy holder. But that is a SWAG.
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#1675603 - 03/09/12 03:52 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
RR Joker Offline
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I still see them around these parts, too, but they may be as you think, Dan...older continuing ones...not really sure.
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#1675656 - 03/09/12 04:43 PM Re: Hazard Insurance includes Flood(M/H)---HUD RR Joker
La. Lady Offline
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I had never seen these before....and to this date have seen only 2 of them....one a couple of months ago and now this one.....

Frankly, I'm not fond of them....just sayin'
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#1676077 - 03/12/12 12:53 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
Bagweaver Offline
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SW GA
They are still floating around in east GA.
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#1713857 - 06/25/12 07:29 PM Re: Hazard Insurance includes Flood(M/H)---HUD La. Lady
GenerousLife Offline
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USA
They are very common in the manufactured housing business, especially in the south.
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#1719553 - 07/12/12 07:25 PM Re: Hazard Insurance includes Flood(M/H)---HUD GenerousLife
Tarhe Offline
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California
We are being presented with a combined fire/flood policy on a manufactured home - what do you look for to ensure that you have adequate flood on the combined policy? The NFIP manual page GR-14 of May 2011 version states requirements for a certificate of Insurance - is that it? (Things like policy term, number, location, zone, premium?) Would we also need to verify the combined policy meets the 6 criteria for a "private flood policy"? (Licensure, 45-day cancellation notice, breadth of policy coverage, legal recourse?)

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