FLOOD08304

• County: Statewide
• Basin: Statewide
• Title: Federal Emergency Management Agency
• Date: 5/1/1998
• Prepared By: FEMA
• Floodplain - Doc Type: Historic FEMA Regulatory Floodplain Information

Federal Emergency Management Agency

f. Details as to any other contracts of in-
sura.nce covering the property. whether valid
or not;
g. Details of any changes in ownership.
use, occupanCy. location or possession of the
insured property since the policy was issued;
h. Details as to who occupied any insured
building at the time of loss and for what pur-
pose; and
i. The amount you claim Is due under this
policy to cover the loss. including statements
concerning;
(1) The limits of coverage stated in the pol-
icy; and
(2) The cost to reP&iT or replace the dam-
aged property (whichever costs less).
4. Cooperate with our adjuster or rep-
resentative in the inyestig&tion of the claim;
5. Document the loss with all bills. re-
ceipts. and related documents for the
amount being claimed:
6. The insurance adjuster whom we hire to
investig&te your claim may furnish you with
a proof of loss form. and she or he may help
you to complete it. However. this is a matur
of courtesy only. and you must still send us
a proof of loss within 60 days after the loss
even if the adjuster does not furnish the
form or help you complete it.
In completing the proof of loss. you must
use your own judgment concerning the
amount of loss and the justification for th.at
amount.
The adjuster is not authorized to approve
or disapprove claims or tell you whether
your claim will be approved by us.
'I. We may. at our option, waive the re-
quirement for the completion and fillng of a
proof of loss in certain cases. in which event
you will be required to sign and. at our op-
tion. swear to an adjuster's report of the loss
which includes information about your loss
and the damages sustained. which is needed
by us in order to adjust your claim.
8. Any false statements made in the course
of presenting a claim under this policy may
be punishable by fine or imprisonment under
the applicable Federal Laws.
K. OuT Options After a Loss: Options we
may. in our sole discretion. exercise after
loss include the following;
1. Emdence of Loss: If we specifically re-
quest it. in Writing. you may be required to
furnish us with a complete inventory of the
destroyed. damaged and undamaged prop-
erty. including details as to quantities.
costs. cu:tU4l cash'lXllues or replacement cost
(whichever is appropriate), amounts of loss
claimed. and any written plans a.nd specifica-
tions for repair of the damaged property
which you can make reasonably available to
us.
2. Emmination Under Oath and Access to In-
BUTed Property OumeTship RecOTds and Con-
dominium Documents: We may require YOU to:
a.. Show us, or our designee. the damaged
property. to be examined under oath by our

pt. 61, App. A(1)

designee and to sign any tram.cripts of such
examinations; and
b. At such reasonable times and places as
we may designate. permit us to examine and
make extracts a.nd copies of Il.DY policies of
property insurance insuring you against loss;
and the deed establishing your ownership of
the insured real property; and the condomi1l-
ium documents including the Ileclar&tions of
the condominium, its Articles of Association
or Incorporation. Bylaws. rol,.. and regula-
tions. and other condominium documents if
you are a unit owner in a condominium build-
ing; and all books of accounts. bills. invoices
and other vouchers. or certified copies there-
of if the originals are lost. pertaining to the
damaged property.
3. Options to Replace: We may take all or
any part of the damaged property at the
agreed or appraised value a.n'~. also. repair.
rebuild or replace the property destroyed or
damaged with other of like kind and quality
within a reasonable time. on giving you no-
tice of our intention to do so within 30 days
after the receipt of the proof of loss herein
required under paragraph J.3. above.
4. Adjustment Options: We may adjust loss
to any insured property of others with the
owners of such property or with you for their
account. A:ny such insurance under this pol-
icy shall not inure directly or indirectly to
the benefit of any carrier or other bailee for
hire.
L. When Loss PaYable: Loss Is Jl&yable with-
in 60 days after you file your proof of loss (or
within 90 days after the insurance adjuster
files an adjuster's report signed and sworn to
by you in lieu of a proof of loss) and ascer-
tainment of the loss Is made either by agree-
ment between us and you expressed in writ.-
ing or by the fillng with us of an award as
provided in paragraph N. below.
If we reject your proof of loss in whole or
in part. you may a.ccept such denial of your
claim. or exercise your right!> under this pol-
icy. or file an amended proof of loss as long
as it is filed within 60 days of the date Q/ the
loss or any extension of time allowed by the
Administrator.
M. Abandonment: You may not abandon
damaged or undamaged. insured property to
us.
However. we may permit you to keep dam-
aged. insured property ("salvage") after a
loss and we will reduce the amount of the
loss proceeds payable to you under the policy
by the value of the salvage.
N. Appraisal: If at a.ny tim" after a loss. we
are unable to agree with you as to the actual
cash value or. if applicable, replacement cost
of the damaged property so as to determine
the amount of loss to be paid to you. then,
on the wri'tten demand of either one of us.
each of US shall select a competent and disin-
terested a.ppra\ser and notify the other of the
appraiser selected within 20 days of such de-
mand. The appraisers shall fIrst select 8.

269

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