![]() ![]() 50% or less of the total floor area within the building if the residential building is a single family property or.A mixed-use building in which the total floor area devoted to residential uses is:.A building designed as a non-habitational building.A travel trailer without wheels, built on a chassis and affixed to a permanent foundation, that is regulated under the community’s floodplain management and building ordinances or laws.īusiness Building: A building in which the named insured is a commercial enterprise primarily carried out to generate income and the coverage is for:.A manufactured home (a “manufactured home,” also known as a mobile home, is a structure built on a permanent chassis, transported to its site in 1 or more sections, and affixed to a permanent foundation) or.A structure with 2 or more outside rigid walls and a fully secured roof, that is affixed to a permanent site or.The BFE is shown on the Flood Insurance Rate Map (FIRM) for zones AE, AH, A1–A30, AR, AR/A, AR/AE, AR/A1– A30, AR/AH, AR/AO, V1–V30 and VE.īasement: Any area of the building, including any sunken room or sunken portion of a room, having its floor below ground level (subgrade) on all sides. A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | XYZĪctual Cash Value (ACV): The cost to replace an insured item of property at the time of loss, less the value of physical depreciation.īase Flood: A flood having a 1% chance of being equaled or exceeded in any given year.īase Flood Elevation (BFE): The elevation of surface water resulting from a flood that has a 1% chance of equaling or exceeding that level in any given year. We don’t ever want you to be confused by what’s in your policy, so if you have any questions, or if you want to find out how to secure coverage for your home or business, contact your local Wright Flood agent. ![]() That’s why the team at Wright Flood has put together this “Flood Insurance Basics” glossary, full of all the flood insurance terms* you’ll need to understand your flood insurance policy and coverage. But knowing what’s covered and how your policy protects your family and home is key to ensuring you have the coverage you need, when you need it the most. **Coverage does not increase the Coverage A or Coverage B limits.Flood insurance terminology isn’t always the easiest to understand. *(a) Artwork, photographs, collectibles, or memorabilia, including but not limited to, porcelain or other figurines, and sports cards (b) Rare books or autographed items (c) Jewelry, watches, precious and semiprecious stones, or articles of gold, silver, or platinum (d) Furs or any article containing fur which represents its principal value or (e) Personal property used in any business Payment will be for the shortest time required to repair or replace the damage or permanently settle your household elsewhere.ġ5 Days (no waiting period for home closings or homes with continuous flood coverage) $30,000 Subject to $250,000 maximum for both Coverages A and D. $250,000 or the Coverage A Flood limit (whichever is less)**Ĭoverage D – Increased Cost of Compliance Limit $100,000 or 10% of Coverage A (whichever is less) for detached garages and/or other structures (reduces the Coverage A limit)Īctual Cash Value (Replacement Cost is available) Maximum total insured value (TIV) $1.25 millionġ0% of Coverage A for detached garages (reduces the Coverage A limit)
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