Skip to content

Private Flood Insurance Policy for 2 Buildings

Answered by: 

We have a marina loan for $1.2MM with two buildings to house boats. They have a private flood insurance policy for both buildings on one policy instead of one policy per building. Is that possible since its a private policy and not NFIP?

Yes, it should be acceptable as long as it meets your minimum coverage requirements and complies with the acceptability of a private policy.

First published on 04/05/2020

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics