When is the Residential Condominium Building Association Policy used?
The Residential Condominium Building Association Policy (RCBAP) is specifically designed for condominium associations to insure residential condominium buildings and its commonly owned elements. This policy covers condominium buildings located within communities that participate in the NFIPs Regular Program and have 75% or more of the floor area dedicated to residential use. These buildings can be detached single-family buildings, row houses, townhouses, or low-rise and high-rise buildings.
