Nfip stuvia - Study guides, Class notes & Summaries

Purpose of National Flood Insurance Program - Answer federal government program to provide a direct loss flood insurance at subsidize rates. ~purpose is to encourage communities to practice flood control & to restrict development in flood prone areas by denying program participation to communities that do not meet the flood insurance program requirments. Emergency Flood Plan - Answer any community recognized to have a flood problem is eligible for this Deductible for this is $1000 (have one...

where do you get flood insurance? - Answer through the national flood insurance program what is the standard deductible in flood policy? - Answer $500 per occurance what must apply on flood policy to recieve RC? - Answer coinsurance clause what coverage do contents have on flood policy? - Answer ACV does flood insurance cover indirect loss? - Answer no what items are never covered by a flood insurance policy? - Answer money, securities, lawns trees shrubs, aircrafts, autos, fences...

National Flood Insurance Program (NFIP) - Answer Was created by the federal government to fill the gap left by private insurance industry and is administered by the Federal Insurance and Mitigation Administration (FIMA), a part of the Federal Emergency Management Agency (FEMA) 3 Main components - Answer Insurance Floodplain management Floodplain mapping Federal government passed Flood Disaster Protection Act of 1973 which mandated flood insurance - Answer 1. Flood insurance is required i...

chance of flooding in a given year? - Answer 25 What is the most compelling reason why someone should buy flood insurance? - Answer Loss by flood is excluded in homeowners and commercial property policies. What category of contents is not eligible for flood insurance? - Answer motorcycles stored in a warehouse Which of the following conditions is not included in the definition of a flood in the NFIP Standard Flood Insurance Policy'Dwelling Form? - Answer permanent inundation of two or ...