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Current as of January 02, 2025 | Updated by Findlaw Staff
1. The following table sets forth the limits of coverage available under the program:
|
Structure coverage |
Contents of coverage4 |
|||
|---|---|---|---|---|
|
Type of structure |
Subsidized |
Total3 |
Subsidized |
Total3 |
|
Single family, residential1 |
$35,000 |
$70,000 |
$10,000 |
$20,000 |
|
All other, residential1 |
100,000 |
200,000 |
10,000 |
20,000 |
|
All nonresidential2 |
100,000 |
200,000 |
100,000 |
200,000 |
1 For Alaska, Hawaii, and the Virgin Islands, the following limits of coverage apply: Structure coverage for one family residential is $50,000 subsidized and $100,000 total coverage, and structure coverage for other residential is $150,000 subsidized and $300,000 total coverage.
2 Includes hotels and motels with normal occupancy of less than 6 months.
3 Coverage in amounts exceeding the subsidized limits is available only after an actuarial cost has been established and flood insurance rate may be issued.
4 Contents of a building must be insured separately from the building. However, coverage is applicable to contents only while in an enclosed building. Therefore, coverage cannot be written on the contents of a three-walled machinery shed or a similar type open building.
2. The following table sets forth the applicable premium rates:
|
Rates per $100 of coverage (subsidized only) |
||
|---|---|---|
|
Type of structure |
Structures |
Contents |
|
All residential․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ |
1 $0.25 |
$0.35 |
|
All nonresidential․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․ |
1.40 |
.75 |
1 Actuarial (nonsubsidized) rates are applicable to any structure, the construction or substantial improvement of which started after Dec. 31, 1974, or the date on which the initial rate map was issued, whichever is later, in identified areas having special flood or mudslide hazards.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture 7 CFR Pt. 1806, Subpt. B, Exh. A Exhibit A to Subpart B of Part 1806—Coverage and Premium Rates - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-pt-7-1806-subpt-b-exh-a/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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