I forgot to get insurance on the condo when I purchased it from a turnkey company and the bank asked for the insurance policy doc as a required doc.

I'm guessing they will have to pay out something at least in some cases, otherwise they will risk huge PR nightmare and people cancelling policies, etc.

Insurance policies don’t contemplate rebuilding costs rising 50% overnight and 2 years to rebuild.It cost me $165-170K out of pocket for this disaster and I didn’t have enough $$ to cover it.  

Keep $300,000 liability on each house and a $1 million umbrella policy and you are as safe as can be.

That's why I always recommend people get a title commitment from a policy issuing agent. 

Our policies are clear cut with rents that we have our Property manager enforce, due on the 1st, late on the 3rd, posted on the 5th, eviction filed on the 9th!   

The government is protecting the public if they walk into your building.  

There are similar characteristics of this event as 2008, except the government has done a bailout for individuals this time.  

Tax Filing and Payment Deadline DeferralThe US Federal Government has extended the 2019 federal tax filing and payment deadline to July 15, 2020.

He contacted the law firm who handled the foreclosure, they had documentation from '05 refi showing that the HELOC had been paid off (the original HUD statement)  Then he was able to get a copy of Title Committment from Title Company hired to clear the foreclosure showing that there was NO exception in the policy for the HELOC.