The maximum building coverage limit for a residential condominium building is defined by taking the NFIP's $250,000 single-family dwelling limit and multiplying it by the number of units in the building.

For example, for a 10-unit condominium building, the maximum coverage limit is $2,500,000 (10 X $250,000). The maximum coverage limit for a 100-unit condominium building is $25,000,000.

Another item to note is that the RCBAP is the only one of the NFIP’s three policy forms that has a coinsurance clause.

For more information on writing condominium building coverage in the NFIP, you can refer to the Condominium topic in the How to Write section of the NFIP Flood Insurance Manual.

Select this link to view the most current version of the Flood Insurance Manual.

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