First the building and contents have to be secured by the same loan.
Second, vehicles are not insurable contents.
Regarding the building and contents that have to be secured by the same loan, can you steer me to the citation so I can back it up.
Just so I am understanding your answer regarding the building and contents have to be secured by the same loan.
Lets say you originate a loan secured by commercial real estate in a flood zone and you have the required flood coverage, all is good. Later you originate another loan to same borrower secured by business assets, not the real estate.
Are you saying that since they are two different loans and neither loan is secured by the other loans collateral, the business asset loan is not required to have content coverage?