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8.18.2 Deductible
The maximum deductible permitted for a master policy is $25,000.

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-18-1-Coverage > 8-18-2-Deductible

8.18.3 Fidelity Insurance

Fidelity insurance is required for any project consisting of more than 20 units. Blanket fidelity coverage must be maintained for anyone who either handles or is responsible for funds that the HOA holds and administers. The HOA must be the named...

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Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-18-1-Coverage > 8-18-3-Fidelity-Insurance

8.19 Attached PUD Flood Insurance
Any project that has common areas situated in a Special Flood Hazard Area (SFHA) requires flood insurance. These are all areas in A or V flood zones.
Flood insurance may be waived only if FEMA has issued either a Letter of Map Amendment...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-19-1-Coverage > 8-19-Attached-PUD-Flood-Insurance

8.19.1 Coverage
The minimum amount of coverage required for all common elements is the lower of the following:
  • 100% of the replacement cost of the insurable value of the improvements
  • The maximum insurance available from the NFIP...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-19-1-Coverage > 8-19-1-Coverage

8.19.2 Deductible
The maximum deductible permitted for a master policy is $25,000.

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-19-1-Coverage > 8-19-2-Deductible