Flood Zones
Greater than a 1% chance of flooding in any given year
What is an SFHA?
In 1968 the National Flood Insurance Program was created.
What is the Flood Insurance Act of 1964?
Building items located here are restricted to only 17 items.
What is a basement?
What is a floodplain manager?
A building that is insurable.
What has 2 or more outside rigid walls with a fully secured roof; resists flotation, collapse and lateral movement and has at least 51% of the ACV above ground?
Less than a 1% chance of flooding in any given year.
What is a Non-SFHA?
Major reform to address long term solvency of the NFIP program
What is the Biggert-Waters Flood Insurance Reform Act of 2012? (BW-12)
This structure can receive up to 10% of the building limit of liability at the insured's discretion.
What is a detached garage?
The phase of the community when they receive a Flood Insurance Rate Map.
What is the regular program?
The Standard Flood Insurance Policy outlines coverage for a 1 year policy term under these 3.
What is Dwelling, General Property and RCBAP policy form?
Where no detailed flood study has been conducted.
What is flood zone D?
Amend the provisions of the BW12 act that eliminated Pre-FIRM subsidies.
What is the Homeowners Insurance Affordability Act of 2014? HIFAA
This type of policyholder can use up to 10% of their contents limit of liability towards betterments and improvements.
What is a tenant?
The four main activity categories that a community participates in to receive their CRS class.
What is Public Information, Mapping and Regulation, Flood Damage Reduction, and Flood Preparedness?
A building in the course of construction before it has at least 2 rigid walls and a fully secured roof.
When is 2x the deductible applied at the time of loss?
Velocity Flooding as from a tidal surge during a hurricane
What is Flood zone V?
December 31, 1974
What is the date the NFIP began?
In order to qualify for this, the insured must reside in a single family dwelling, it be their principal residence and be insured to value.
What is replacement cost value?
The building limit for a single family dwelling in the emergency program.
What is 35,000?
An owner of a unit of this type cannot purchase building coverage.
What is a non residential condo unit?
Qualifies for a Newly Mapped policy but not a PRP.
What is flood zone A99?
Companies that write and service flood insurance under their own name.
What is a WYO?
The extra cost incurred by the insured when their house is unlivable due to flood damage.
What is Additional Living Expense?
Flood insurance is not available in these areas as established under federal, state or local law.
What is the Coastal Barrier Resources System (CBRS) and Otherwise Protected Areas (OPA)?
The date the 30 day waiting period can be based upon.
What is the date the insurer receives the application and payment; the date of the application and the method of sending the application and payment?