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Private Flood Insurance Policy for 2 Buildings

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Question: 
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?
Answer: 

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

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