Flood Insurance for Farmers: New Rules and Options
This act aims to make flood insurance more accessible for farmers' agricultural structures and one single-family dwelling on their property. It introduces the possibility of obtaining variances from standard building requirements in special flood hazard zones and offers an option for a single umbrella policy for multiple structures. This helps farmers better protect their assets from flood damage.
Key points
Easier access to flood insurance for agricultural structures, including one dwelling occupied by the owner or operator.
Allows for variances from elevation or floodproofing requirements in special flood hazard zones under specific conditions.
Introduces an option for a single umbrella insurance policy for multiple structures on the same property, simplifying insurance management.
Expired
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