FLOOD04694

• County: Statewide
• Basin: Statewide
• Title: The Region VIII Cape Study - A Guide for Staff Performing Community Assistance and Performance Evaluation Visits
• Date: 9/1/1984
• Prepared For: Region VIII
• Prepared By: FEMA
• Floodplain - Doc Type: Historic FEMA Regulatory Floodplain Information

I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I

ATTACHMENT G

REQUIRED AMOUNTS OF FLOOD INSURANCE COVERAGE

Lenders are required to ensure that borrowers purchase flood
insurance in an amount at least equal to the lesser of the
loan or the "maximum required by law" (see the chart below).
Land value may be subtracted from the loan amount to reduce
the required amount of coverage, since land is not insurable
under the National Flood Insurance program. Only buildings
and contents are insurable under the NFIP.

NATIONAL FLOOD INSURANCE PROGRAM
Emergency Program Regular Program
Total Amount
Available/ Maximum
Maximum Re- Total Amt. Required
quired by law Available By Law
single Family
Residential $ 35,000 $185,000 $ 70,000
other
Residential 100,000 250,000 200,000
Contents
Residential 10,000 60,000 20,000
Small Business lOO,OOO 250,000 200,000
Contents,
Small Business 100,000 300,000 200,000
Other
Non-residential 100,000 200,000 200,000
Contents, Other
Non-residential 100,000 200,000 200,000