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What is the minimum homeowners and flood insurance required for Condominiums, Planned Unit Developments (PUD), and Co-Operative Communities (Co-Op)?

April 26, 2017condominiums developments flood Homeowner Insurance minimum planned PUD

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What is the minimum homeowners and flood insurance required for Condominiums, Planned Unit Developments (PUD), and Co-Operative Communities (Co-Op)?

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A. Minimum homeowner’s insurance coverage is defined as 100% of the insurable value, guaranteed replacement cost or similar and specified coverage. Maximum deductible is 5% of the dwelling coverage amount.