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A building that has no basement and has its lowest elevated floor raised above the ground level by foundation walls, shear walls, posts, piers, pilings, or columns. Solid foundation perimeter walls are not an acceptable means of elevating buildings in V and VE zones.
- Browse Related Terms: Base Flood, Base Flood Elevation (BFE), Basement, Breakaway wall, Elevated Building, Enclosure, Flood, Floodplain, Lowest Floor, Non-Special Flood Hazard Area (NSFHA)
All > Business > Finance > Insurance > Flood Insurance
A certificate that verifies the elevation data of a structure on a given property relative to the ground level. The Elevation Certificate is used by local communities and builders to ensure compliance with local floodplain management ordinances and is also used by insurance agents and companies in the rating of flood insurance policies.
- Browse Related Terms: Actual cash value (ACV), Elevation Certificate, Federal Policy Fee, Grandfathering, Group Flood Insurance Policy (GFIP), Increased Cost of Compliance (ICC), policy, Post-FIRM Building, Pre-FIRM Building, Preferred Risk Policy (PRP), Probation Surcharge (Premium), Replacement Cost Value (RCV), Standard Flood Insurance Policy (SFIP), Submit-for-Rate, Waiting Period, Wave Height Adjustment, Write Your Own (WYO) Program
All > Business > Finance > Insurance > Flood Insurance
The initial phase of a community's participation in the National Flood Insurance Program. During this phase, only limited amounts of insurance are available under the Act.
- Browse Related Terms: act, Community, Community Rating System (CRS), Emergency Program, Federal Emergency Management Agency (FEMA), Floodplain Management, Mitigation Division, National Flood Insurance Program (NFIP), National Flood Insurance Reform Act (NFIRA), Participating Community, Regular Program
All > Business > Finance > Insurance > Flood Insurance
That portion of an elevated building below the lowest elevated floor that is either partially or fully shut-in by rigid walls.
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