Flood Flashcards
What is covered by a flood policy?
Dwelling: and materials/supplies for building enclosed in shelter. 10% ce for other structures
Contents
Other coverages: property removed 45 days, debris removal (only applies to property, not trees shrubs, “washed up” items.
The ____ determines rates, coverage limitations and eligibility.
FIA
What is not covered under dwelling (flood)?
Trees, shrubs, plants, lawns, land values, fences, outdoor swimming pools, property in open or below ground (basement), walks, driveways, paved surfaces, underground structures (wells), finished walls, floors, ceiling, enclosures and building components located below the lowest elevated floor, equipment outside foundation wall (a/c, backup generator)
What is not covered under contents (flood)?
Off premises, money, securities, animals, birds, fish, aircraft, autos, trailers, watercraft, business property
A general and temporary condition of partial or complete inundation of normally dry land area resulting from overflow of inland or tidal waters or the unusual or rapid accumulation or run off if surface waters from any source. May also include mudflow, surface runoff, flood related erosion, lake overflow by accumulation of groundwater. Not localize to one property unless 2 or more acres of land are covered.
Flood defined
Is accumulation of water on property due to formation of the land covered?
No
Is a landslide covered?
No
Standard NFIP deductible.
$1000
Emergency program dwelling / contents limits.
$35/$10
Regular program dwelling / contents limits.
$250/$100
In a new community within 30 days of becoming available, when is insurance available?
Immediately.
After 30 days of insurance being available to a community when is a new policy effective?
30 day waiting period unless has mortgage
What are the only items covered in a basement?
A/c units, clothes washers/dryers, food freezers, food in freezer
When can a deductible be decreased?
Only at renewal.
