Another Flood Insurance Question

Posted By: Kahola

Another Flood Insurance Question - 09/26/02 03:21 PM

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?
Posted By: Dan Persfull

Re: Another Flood Insurance Question - 09/26/02 03:39 PM

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.