A flood that is in progress on the earlier of either: The date the community in which the insured property is located first experiences a flood as defined in this policy; or The date and time of an event initiating a flood that directly or indirectly affects areas downstream or in a floodway and ultimately results in the damage to the insured property. Events that may initiate such a flooding event include, but are not limited to, the following: a. A spillway is opened; b. A levee is breached; c. Water is released from a dam; and d. Water escapes from the banks of a waterway (stream, river, creek, etc). The applicability of this exclusion will be evaluated upon the assertion by a policyholder of the right to be paid for a loss under this policy.

A general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land area or of 2 or more properties (at least 1 of which is the policyholder's property) from: – Overflow of inland or tidal waters; or – Unusual and rapid accumulation or runoff of surface waters from any source; or – Mudflow; or Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

The price that the seller is willing to accept and the buyer is to pay on the open market and in an arm's length transaction.

The collapse, undermining or subsidence of land along the shore of a lake or other body of water. Erosion is a covered peril if it is caused by waves or currents of water exceeding their cyclical levels which result in flooding.

That portion of an elevated building below the lowest elevated floor that is either partially or fully shut in by rigid walls.

FAQs Archive - Page 13 of 23 - Flood Insurance Education & Resources

Q: Flood Insurance Rate Map (FIRM)

Official map of a community on which FEMA has delineated the Special Flood Hazard Areas (SFHAs), the Base Flood Elevations (BFEs) and the risk premium zones applicable to the community.

Q: Flood Insurance Claims Office (FICO)

An NFIP claims processing office set up in a catastrophe area when a sufficient number of flood claims result from a single event.

Q: Flood Hazard Boundary Map (FHBM)

Official map of a community issued by FEMA, where the boundaries of the flood, mudflow and related erosion areas having special hazards have been designated.

Q: Finished (Habitable) Area

An enclosed area having more than 20 linear feet of finished interior walls (paneling, etc.) or used for any purpose other than solely for parking of vehicles, building access or storage.