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#34705 - 09/26/02 03:21 PM Another Flood Insurance Question
Kahola Offline
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Kahola
Joined: May 2001
Posts: 712
Scottsdale, AZ. 85255
Is this correct? Flood insurance coverage is limited to either the maximum dollar amount established by FEMA or the value of the property's structural improvements, whichever is less. If so my question is -- what is the definition of "property's structural improvements" Is it the "Total Estimated Cost New" found on an appraisal?

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#34706 - 09/26/02 03:39 PM Re: Another Flood Insurance Question
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,951
Bloomington, IN
the value of the property's structural improvements is the current value of the structure minus the land value. FEMA encourages you to get replacement cost coverage on the structure.
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The opinions expressed are mine and they are not to be taken as legal advice.

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