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<br />e <br /> <br />. <br /> <br />e <br /> <br />. <br /> <br />. <br /> <br />e <br /> <br />ANNOUNCEMENT: mE STANDARD FLOOD INSURANCE POLICY DEDUCfIBLE <br />HAS BEEN INCREASED FOR CERTAIN PROPERTIES <br /> <br />To reduce the amount of subsidy for policies with subsidized premium rates, the <br />minimum deductibles, for building and contents separately, for such policies have been <br />increased from $500 to $750. The new $750 minimum deductibles apply to policies for <br />buildings (and the contents in them) that were built before the effective date of the Flood <br />Insurance Rate Map for the community or December 31, 1974, whichever is later, and that <br />are located in zones A, AO, AH, AI-30, AE, VO, VI-30, VE, or V. Optional fully actuarial <br />rates may be used for such buildings and their contents instead of the subsidized rates, in <br />which case the minimum deductibles would remain at $500. <br /> <br />Also, reimbursement for temporary removal and storage of insured property and the <br />purchase of sandbags and the other items specifically spelled out in the policy for the <br />purpose of mitigating flood damage when there is imminent danger of a flood loss was <br />previously limited to the minimum deductible, which was $500 for all policies. To clarify that <br />the uniform ceiling of $500 will remain in effect now that there is no longer a uniform <br />deductible, changes have been made in the definition of "Direct Physical Loss by or from <br />Flood" in Article II and in Article IV. A. (see subparagraph 7 of the Dwelling Form or <br />subparagraph 3 of the General Property Form) to provide for such reimbursements up to <br />a $500 ceiling without specifying the ceiling in terms of the minimum deductible. <br /> <br />If you have any questions about these changes, please see your local insurance agent. <br /> <br />October 1992 <br /> <br />POL 13 <br />