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What is a National Flood Insurance Program (NFIP) Residential Condominium Building Association Policy (RCBAP)?

The RCBAP is a master flood insurance policy issued by the Federal Emergency Management Agency (FEMA) for residential condominiums.

To meet the definition of a residential condominium building and be eligible for coverage under an RCBAP, 75 percent or more of the building’s floor area must be for residential use.

The maximum amount of building coverage that can be purchased under an RCBAP is the lesser of

  • 100 percent of the replacement cost value of the building, including amounts to repair or replace the foundation and its supporting structures, or
  • the total number of units in the condominium building times $250,000.

An RCBAP may be purchased only by the condominium owners' association.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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