You are required to obtain and maintain a fire (hazard) policy. If the home is non-owner occupied, this type of policy may also be referred to as a landlord’s or commercial policy. If your fire (hazard) policy specifically excludes windstorm damage, you are required to obtain a separate windstorm damage policy.
If your property is in Puerto Rico, you are required to obtain and maintain earthquake insurance. Although earthquake insurance is not required outside of Puerto Rico, you may want to consider obtaining this coverage in some locations.
If any structure is located in a Special Flood Hazard Area as identified by FEMA, you are also required to obtain and maintain flood insurance. If the home is a condominium or town home, please check with your homeowners association to verify what type of coverage the association’s policy provides.
Condominium owners are also required to have insurance, learn more in this Condominium insurance requirements video.
Condominium owners should provide two insurance documents to Rushmore:
- Condo Master policies – Normally this insurance is maintained by the Condo association and Rushmore needs the copy of the policy to update the insurance information.
- HO6 (also known as Walls-In coverage policy) — In most cases the Condo Master policies didn’t include your personal items or items within the walls. If Walls-in coverages are not included within the Condo Master policy, you need to obtain a separate HO6/Walls in Coverage policy and provide the details to Rushmore. You can decide on the coverage amount – but a policy is a requirement.