![]() However, flood insurance and many kinds of federal disaster assistance are not available in communities that do not participate in the program. Community participation in the National Flood Insurance Program is voluntary. The National Flood Insurance Program offers flood insurance to homeowners, renters and business owners, provided their communities use the program's strategies for reducing flood risk, including adopting and enforcing floodplain management ordinances to reduce future flood damage. The program provides flood insurance, while at the same time encouraging the sensible management and use of floodplains to reduce flood damage. The program provides an alternative to disaster assistance and reduces the escalating costs of repairing damage to buildings and their contents caused by floods. The National Flood Insurance Program is a federal program created in 1968 to provide flood insurance to people who live in areas with the greatest risk of flooding, called Special Flood Hazard Areas. What is the National Flood Insurance Program? Coupled with changing weather patterns, this construction can make floods more severe and increase everyone's chance of being flooded. But more and more buildings, roads, and parking lots are being built where forests and meadows used to be, which decreases the land's natural ability to store and absorb water. Natural floodplains add to our quality of life by providing open space, habitat for wildlife, fertile land for agriculture, and opportunities for fishing, hiking and biking.įloodplains can be viewed as a type of natural infrastructure that can provide a safety zone between people and the damaging waters of a flood. When left in a natural state, floodplain systems store and dissipate floods without adverse impacts on humans, buildings, roads and other infrastructure. What is a floodplain?įloodplains are low-lying lands next to rivers and streams. Yet people continue to settle and build in floodplains, increasing the risk of property damage and loss of life. Throughout history, floods have claimed uncounted human lives and devastated property, even destroying cities. Floods can also be caused by storm surges and waves that inundate areas along tidal or Great Lakes coastlines. ![]() Introductionįloods occur when runoff from rain or snowmelt exceeds the capacity of rivers, stream channels or lakes and overflows onto adjacent land. The information on this page can also be downloaded as a brochure for printing. Use #TXNFIP18 to find information online and share with your friends and family.įor Texas disaster mitigation information, visit and for additional information about mitigation, visit For information on protecting properties from disaster, visit For information on Hurricane Harvey and Texas recovery, visit the Texas Division of Emergency Management website at. Texas NFIP 2018 is a whole month dedicated to sharing tips with Texans about how they can prepare themselves and their homes for hurricane season. ![]() Texans can go to and throughout May to learn how NFIP can protect them from disaster. Personal property is always adjusted at the actual cash value.Some items such as appliances and carpeting are always adjusted at the actual cash value.The actual cash value is the replacement cost value, less depreciation for physical wear and tear. ![]() Your amount of flood insurance for building coverage must be at least 80 percent of the full replacement cost of your home, or be the maximum amount of insurance available for the property under NFIP.Your home must be your principle residence at the time of loss, meaning you live there 80 percent of the year and.Your home must be a single-family dwelling.For you to be eligible for the replacement cost value, you must meet three conditions: ![]() The replacement cost value is the cost to repair or replace a part of the home that is damaged, with a deduction for wear and tear. The type of claim determines how the claim is adjusted. Policies pay out to policyholders based on either the replacement cost value or the actual cash value. Flood insurance, unlike some homeowner policies, does not have a guaranteed replacement cost policy that will pay above the liability limit. NFIP offers two types of coverage for homeowners: building property coverage up to $250,000 and contents coverage up to $100,000.Ī standard flood insurance policy pays for the replacement cost of your home or the actual cash value of damages, up to the policy limit. AUSTIN, Texas - Understanding your National Flood Insurance Program (NFIP) policy is an important part of your preparation for hurricane season. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |