Flood Insurance for Farmers: Easier Building Rules in Flood Zones.
This law aims to increase the availability of flood insurance for agricultural structures by allowing local authorities to grant exceptions (variances) from federal elevation or floodproofing requirements in high-risk zones. This change reduces construction and repair costs for farmers. Furthermore, property owners with multiple structures, including farmers, gain the option to purchase a single umbrella flood insurance policy.
Key points
Local governments can grant variances from mandatory elevation or floodproofing rules for agricultural structures when compliance is deemed impractical.
Communities will not face penalties from FEMA for adopting these variance measures, provided specific safety criteria are met.
Insurance premiums for structures granted a variance will be calculated based on rates comparable to dry floodproofed buildings, potentially lowering insurance costs.
Introduces an optional umbrella policy for owners of multiple structures on the same property (commercial, residential, and agricultural) to simplify coverage management.
Introduced
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