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Flood Insurance - A Good Investment . In almost all cases the purchase of Flood Insurance is a good investment. A Flood Insurance Policy: ~ Will cover all floods, no mailer how large. Program assistance, YOll should ask those program officials about additional mitigation assistance to reduce future flood damage to the items they are helping to repair or replace. Information for these and many other funding sources is awilable a1 a Disaster Recovery Center (DRC). The location of the DRC in your area would be available through the local news media-newspapers, radio and television-and through the Federal and State Community Relations personnel canvassing the disaster area. ~ Cannot be denied because of a floodplain location or flood history. A policy will provide up to $500 to cover the cost of moving your possessions to higher ground-including moving a mobile home. ~ Will cover replacement costs for single-family residences, if you have full coverage. ~ Will cover both structures and contents, if insured for both. Flood Insurance is not available everywhere. It is awilable only to residents of communities participating in the National Flood Insurance Program. (NFIP). For general information about flood insurance and to find out if your community is participating in the NFIP, you can call 1-800-427-466 J. ~ Premium can often be reduced if mitigation measures are taken. . ~ Will pay to repair the f1ood-damaged part of your building or contencts in accord with your policy. If items such as your furnace, water heater, electrical fuse box, or other key elements were damaged consider using the mitigation techniques in this book to reduce future flood damage. Often these retrofitting measures do not gready increase the cost of repairs-if they are undertaken a1 the time you are repairing damage, or making some other major renovation to your home. Flooded? Here's what to do. If you experience flood damage and are covered by Rood insurance, these important steps will help you when filing your flood insurance claim. 1. Save as many damaged articles as possible. If you must throw items out, take pictures to document your losses. ~ Has a deductihle, very much like other insurance policies. 11 will not pay for additional costs for retrofitting or to meet local codes. 2. Contact your insurance agent right away. Once your insurance agent has your claim: ~ Can pay a claim or partial claim within days of the disaster even without a Presidential Declaration. ~ The agent will file a Notice of Loss. ~ An adjuster will be assigned to your case. . ~ However, if there is a Presidential Declaration, other sources of funds may be available for mitigation. If you are eligible for a Minimal Home Repair grant, a Small Business Administration disaster loan, or Individual and Family Grant ~ Once the loss has been adjusted, a Proof of Loss will be submitted, and payment can be made. Partial payment can be made to claimants upon submission of a partial Proof of Loss . Protectin.r? }our Home/rom Flood Dam4ge, Revised 1996, 2nd Edition. Federal Emergencr Management Agenq: