ICC Coverage May Help Pay to Bring Flooded Structures Up to Code

LITTLE ROCK, Ark. – Flood insurance policyholders in high risk flood areas (Special Flood Hazard Areas) may be able to receive up to $30,000 to help cover the cost of bringing a substantially damaged structure into compliance with the community’s floodplain management regulations.

To qualify for ICC (Increased Cost of Compliance), a structure must either be substantially damaged (damage that is 50 percent or greater than the value of the building) or one that has been repeatedly damaged.

ICC is a part of most Standard National Flood Insurance Program policies sold by insurance companies. ICC coverage can pay for four types of activities that will reduce the risk of future flood damage:

Elevation (raising the building)Relocation (moving the building to another area)DemolitionFloodproofing (applies only to nonresidential buildings)

For more information regarding eligibility requirements please contact your insurance agent, the Arkansas Natural Resources Commission at 501-682-1611, or the FEMA NFIP Helpline at
800-621-3362 (select option 2 for insurance and ICC questions).

For updates on the Arkansas response and recovery, follow the Arkansas Department of Emergency Management (@AR_Emergencies) on Twitter and Facebook and adem.arkansas.gov. Additional information is available at fema.gov/disaster/4318.

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FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.

Original author: crystal.garner
Friday, July 14, 2017
NHC Eastern North Pacific Outlook

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