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<br />TABLE 13-3 <br /> <br />ADVANTAGES AND DISADVANTAGES OF FLOOD INSU.RANCE <br /> <br />Advantages <br /> <br />Inexpensive to the insured at the subsidized <br />rate. <br /> <br />Available to persons in many communities. <br /> <br />I ndemnilication is for any flood up to the <br />limits of the policy. <br /> <br />Disadvantages <br /> <br />Only available to persons in communities <br />which are eligible to participate in the Flood <br />I nsurance Program. <br /> <br />I ndemnification is limited both in magnitude <br />and in type of damage. <br /> <br />A deductible provision for each loss makes it <br />somewhat less attractive for low damage <br />flooding. <br /> <br />Damages are not reduced. <br /> <br />References <br /> <br />1. "National Flood Insurance Act of 1968", Title XIII of the Housing and Urban D~velopment <br />Act of 1968, Public Law 90-488; August 1, 1968, 42 U.S.c. 4001 et seq. <br /> <br />2. "Housing and Urban Development Act of 1969", Public Law 91-152, December 24,1969,83 <br />Stat. 379, 397. <br /> <br />3. "Flood Disaster Protection Act of 1973", Public Law 93-234, December 31, 1973, 86 Stat. 979. <br /> <br />4. "Federal Insurance Administration, National Flood Insurance Program, Rules and <br />Regulations", Federal Register, Tuesday, October 26, 1976, Part II, Vol. 41, No. 207. <br /> <br />5. "Flood Insurance Manual," National Flood Insurance Program, National Flood Insurers <br />Association, 2-75 Edition. <br /> <br />6. "Housing and Community Development Act of 1977, Title VII - Flood and Ri()t Insurance", <br />Public Law 95-128, October 12, 1977. <br /> <br />95 <br />