Typical Condo and PUD Insurance requirements for financing

If you are an instititutional property owner and property manager many times your financing needs require you to have special types of insurance in place.

What are the typical Condo and PUD insurance requirments

typically the Insurance Requirements need to have the following for many commercial financing needs

- (1) Hazard: blanket all risk policy with 100% replacement, deductible not to exceed 5% of policy face amount, (2) Liability: coverage must be $1 Million per occurrence, (3) Flood Insurance: lesser of 100% of insurable value or maximum coverage allowed per NFIP ;coverage of each unit should be the lesser of $250,000 or the amount of its replacement cost (I.e., the replacement cost of all units combined or the number of units x $250,000);deductible not to exceed $25,000 per building located in the flood zone, (4) Fidelity Bond: required for projects with over 20 units, coverage must be In amount sufficient to cover three months of HOA dues or meets requirements of state law.

Condominium project insurance master or blanket policies containing either of the following are prohibited:

· A blanket policy that covers multiple unaffiliated condominium associations or projects, or

· A self Insurance arrangement whereby the owners' association is self insured or has banded together with other unaffiliated associations to self Insure all of the general / and limited common elements of the various associations.

Talk to one our our knowledgable insurance agents at RTG West Insurance. We serve all of California including San Jose, Sacramento, Menlo Park, Riverside, Corona, Irvine, and Ontario.

Posted by Unknown on 6:40 PM. Filed under , , , . You can follow any responses to this entry through the RSS 2.0

0 comments for �Typical Condo and PUD Insurance requirements for financing�

Leave comment

Over 30 Years Insuring the Future

RTG-West Insurance Services, Inc., established in 1995, is a full service Independent Insurance Agency offering insurance protection and risk management services to families and businesses in California for Auto, Home, Business, Life, and Health insurance needs.

Our three service divisions specialize in

Personal Insurance,
Commercial Insurance,
Employee Benefits including individual and group health, life and disability insurance.

We also offer Life insurance products for all needs.

As an Independent Insurance Agent we offer a high level of customized insurance services and products to meet our clients needs.

We do not work for an insurance company, we work for you!

"We Work For You."

The Agents and staff of RTG-West Insurance Services, Inc. are committed to providing unsurpassed service to each of our clients. We believe in the good old fashioned values of Trust, Honesty, Integrity, and Hard Work



insurance commerical


As a locally owned and operated insurance company RTG-WEST INSURANCE SERVICES, INC. has delivered quality insurance solutions to individuals in CA since 1995, specializing in Business Auto Homeowners insurance coverage.

At RTG-WEST INSURANCE SERVICES, INC.,we work for YOU, our client to find the best coverage and the best price.

We proudly provide insurance solutions to clients in Riverside, Corona, Murrieta, Temecula, San Bernardino, Moreno Valley and all the Inland Empire. We have commercial clients in Los Angeles, San Diego, Hollywood and beyond.

Instant Health Coverage (CLICK LOGOS)

insurance commerical insurance commerical insurance commerical


insurance commerical
insurance commerical
insurance commerical
insurance commerical

Everyone NEEDS Insurance

insurance commerical

insurance commerical

insurance commerical

2012 RTG West Insurance Services, Inc CA DEPT Insurance LICENSE OB69152. All Rights Reserved. - Designed by IPMM