Exam 2 - Flood Insurance Flashcards
1
Q
What $ do NFIP borrow to cover deficits?
A
US Treasury
2
Q
Current NFIP Debt to Treasury?
A
20.5 BIll
3
Q
Who is eligible for flood insurance?
A
Properties in a participating events
4
Q
Properties in a participating events…
A
Homeowner, tenant, townhome, condo, commercial property
5
Q
Ineligible Property for flood insurance are?
A
Buildings over water or underground (basement)
6
Q
What is covered in a flood insurance?
A
Buildings, personal property, appliances, heat, AC, debris removal
7
Q
Insurance Limits for flood coverage are?
A
single family 250,000 building / 100,000 content
8
Q
Insurance Limits for commercial buildings are?
A
500,000 building
500000 content
9
Q
Things not covered in a flood..
A
Property outside, additional living expense, income, anything in basement
10
Q
A
