Federal flood insurance now available in Bristol ? West of the I

Apr 5th, 2013 by Darren Hillock.

Bristol has joined over 21,000 communities nationwide that are allowed to purchase federally backed flood insurance. This availability?follows?the village?s adoption and enforcement of?ordinances?to reduce flood loses and acceptance by the National Flood Insurance Program.

Bristol is now a participant in?the?NFIP effective March 8. Residents of the village will be able to?purchase?flood?insurance?up to the limits under the Regular Phase of the program. However, there is a 30-day waiting period before flood insurance coverage goes into effect. For single-family dwellings, the building coverage limit is $250,000 and the contents coverage limit is $100,000. Renters can also protect their belongings by purchasing contents coverage. For commercial properties, the building and contents coverage limits are both $500,000.

Lenders must require borrowers whose properties are located in a designated flood hazard area to?purchase?flood insurance as a?condition?or receiving a federally backed mortgage loan in accordance with the Federal Disaster Protection Act of 1973.

The NFIP is implemented through the Federal Emergency Management Agency. There are over 5.5 million flood insurance policies in more than 21,000 participating communities nationwide.

Posted in: Bristol, Flooding.

Source: http://www.westofthei.com/2013/04/05/federal-flood-insurance-now-available-in-bristol/40794

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