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We are in the process of refinancing a condo with cash out to use as a down payment on another property. I know that the mortgage company will soon require proof of the hazard and flood insurance, and I have a concern that the existing coverage may not be enough to satisfy them. The condo is in coastal Alabama, and with the huge increase in insurance premiums due to the recent hurricanes, the condo assn. had to go with "wind pool" coverage for our hazard insurance (actual cash value instead of replacement cost.) . My question: can individual condo owners purchase "supplemental" hazard insurance to bring the coverage up to where the mortgage company is satisfied?

Thanks for any insight you can give.

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