FLOOD07997

• County: Statewide
• Basin: Statewide
• Title: Flood Insurance Manual
• Date: 10/1/1992
• Prepared For: US
• Prepared By: National Flood Insurance Program
• Floodplain - Doc Type: Project

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FEDERAL EMERGENCY MANAGEMENT AGENCY
FEDERAL INSURANCE ADMINISTRATION

STANDARD FLOOD INSURANCE POLICY
[Issued Pursuant to the National Flood Insurance Act of 1968, or Any Acts
Amendatory Thereof (Hereinafter Called the Act), and Applicable Federal Regulations
in Title 44 of the Code of Federal Regulations, Subchapter B)
GENERAL PROPERTY FORM

IN CONSIDERATION OF THE PAYMENT OF THE PREMIUM,
IN RELIANCE UPON THE STATEMENTS IN THE APPLICATION
AND DECLARATIONS FORM MADE A PART HEREOF ANDStm-
JECT TO ALL TIlE TERMS OF TIDS POLICY, THE INSURER
DOES INSURE the Insured and legal representatives. to the extent afthe
actual cash value. not including any antique value, of the property at the
time of loss, but not exceeding the amount which it would cost to repair
or replace the property with material of like ldnd and quality within a
reasonable time after such loss. without allowance for any increased cost
of repair or reconstruction by reason of any ordinance or law regulating
construction or repair. and without compensation for loss resulting from

interruption of business or;. manufacture. nor in any event for more lhan
the interest of the Insured. against all uDIRECT PHYSICAL LOSS BY
OR FROM FLOOD" as defined herein, to the property described while
located or contained as described in the application and declarations fonn
attached hereto, or pro rata for 45 days at each proper place to which any
of tile propeny shall necessarily be removed for preservation from the peril
of "Flood", but not elsewhere.
Assignment of this policy, in writing, by the Insured is allowed upon
transfer of titJe except for (i) a contents only policy and (ii) a policy issued
to cover a building in the course of conslruction. The Insurer under this
policy is the Federal Emergency Management Agency.

ARTICLE I-PERSONS INSURED

The following are insured under this policy:
A. The named Insured and legal representatives;
B. Any mortgagee and loss payee named in the application and declara-
lion page in the order of precedence and to the extent of their interest but
for no more, in the aggregate, than the interest of the named Insured.

ARTICLE "-DEFINITIONS

Den.kloos-As used In this PoUcy:
"Actual Cash Value" means the replacement cost of an insured item of
propeny at the time of loss, less the value of phystcal depreciation as to
the item damaged.
"Application" means the statement made and signed by the Insured, or
the Insured's agent, and giving information on the basis of which the In-
surer determines the acceptability of the risk, the policy to be issued and
the correct premium payment, which must accompany the application for
the policy to be issued. The application is a part of this flood insurance policy ,
"Base flood" means the flood having a one percent chance of being
equalled or exceeded in any given year.
"Basement" means any area of the building having its floor subgrade
(below ground level) on all sides.
"Building" means a walled and roofed structure, other than a gas or liq-
uid storage tank, that is principally above ground and affixed to a perma-
nent site, including a walled and roofed building in the course of construc-
tion, alteration or repair and a manufactured (Le., mobile) home on a per-
manent foundation, subject 10 Paragraph' 'H" of the provision tilled' 'Pr0p-
erty NOI Covered." This policy does not cover more than one building,
unless application to cover more than one building is made on a form or
in a fonnat approved for that purpose by the Administrator.
"Cancellation" means that ending of the insurance coverage provided
by this policy prior to the expiration date.
"Coastal High Hazard Area" means an area subject 10 high velocity
waters, including hurricane wave wash and tsunamis.
"Declarations Page" is a computer generated summary of information
furnished by the Insured in the application for insurance. The declarations
page is a part of this flood insurance policy.
"Direct Physical Loss By or From Flood" means any loss in the nature
of actual loss of or physical damage, evidenced by physical changes, to
the insured property (building or contents [personal propenyl) which is
directly and proximately caused by a "flood" (as defined in this Agree-
ment). while the insured property is located: I. At the propeny address
shown on the application for this insurance, which is a part of this Agree-
ment; and 2. For fony-five days, at another place above ground level or
outside ofthe special flood hazard area, to which any of the insured prop-
erty shall necessarily be removed in order to protect and preserve it from

October 1992

a flood or from the imminent danger of flood (provided, personal property
so removed must be placed in a fully enclosed building or otherwise
reasonably protected from the elements to be insured against loss) in which
case the reasonable expenses incurred by the Insured in moving any of the
insured property temporarily away from the peril of flood and storing this
property at the temporary location (not exceeding 45 days) shall be reim-
bursed to the Insured for buildings in an amount up to the amount of the
minimum building deductible and for contents in an amount up to the amounl
of the minimum contents deductible. This policy's deductible amounts, as
provided for herein under' 'DEDUCTIBLES, .. shall not be applied to this
reimbursement, but shall be applied to any other benefrts under this policy's
coverage. The term "Direct Physical Loss By or From Flood" shall not
include compensation for loss of use, loss of access, loss of profits or loss
resulting from interruption of business, profession or manufacture,
allowance for any increased cost of repair or reconstruction as a result of
any ordinance regulating reconstruction or repair, or other economic loss.
"Expense Constant" is a flat charge per policy term, paid by the lnsured,
to defray the Federal Government's policywriting and other expenses.
, 'Expiration Date" means the ending of the insurance coverage provided
by this policy on the expiration dale shown on the declarations page.
"Flood": Wherever in this policy the term "flood" occurs, it shall be
held to mean:
A. A general and temporary condition of partial or complete inundation
of normally dry land areas from:
I. The overflow of inland or tidal waters.
2. The unusual and rapid accumulation or runoff of surface waters from
any source.
3. Mudslides (Le., mudflows) which are proximately caused by flooding
as defined in subparagraph A-2 above and are akin to a river of liquid and
flowing mud on the surfaces of normally dry land areas, as when earth is
carried by a current of water and deposited along the path of the current.
B. The collapse or subsidence of land along the shore of a lake or other
body of water as a result of erosion or undermining caused by waves or
currents of water exceeding the cyclical levels which result in flooding as
defined in A.I above.
"Manufactured home" means a building, transportable in one or more
sections, which is built on a permanent chassis and designed to be used
with or without a permanent foundation when connected to the required
utilities. The term "manufactured home" does not include park trailers,
travel trailers, and other similar vehicles. To be eligible for coverage under
this policy, a manufactured home must be on a permanent foundation and
if located in a FEMA designated Special Flood Hazard Area. must meet
the requirements of paragraph H of PROPERTY NOT COVERED.
"Mobile home" means a manufactured home.
"Policy" means the entire written contract between the Insured and the
Insurer, including this printed form, the application, and declarations page,

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