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#2213708 - 05/15/19 07:15 PM Condo Unit Insurance
mdog76 Offline
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Joined: Jan 2007
Posts: 645
If the HOA carries its own flood policy, does the individual unit owner need a policy for their own unit? This has always been confusing.

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Flood Compliance
#2213710 - 05/15/19 07:20 PM Re: Condo Unit Insurance mdog76
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,618
Galveston, TX
Only if the RCBAP is not adequate.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2213711 - 05/15/19 07:25 PM Re: Condo Unit Insurance mdog76
mdog76 Offline
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Joined: Jan 2007
Posts: 645
So just that I understand, if the broken down coverage per unit is not sufficient enough, then the customer would need a separate policy to make up the difference?

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#2213713 - 05/15/19 07:27 PM Re: Condo Unit Insurance mdog76
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,618
Galveston, TX
Possibly. What is the replacement cost and insurance amount listed on the RCBAP? If the insurance coverage equals or exceeds the replacement costs you are done.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2213717 - 05/15/19 07:35 PM Re: Condo Unit Insurance mdog76
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Haven't seen it yet, just trying to get out ahead of it a little.

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