Flood Insurance terms starting with R

3 terms

1. Regular Program The final phase of a community's participation in the National Flood Insurance Program.
2. Replacement Cost Value (RCV) The cost to replace property with the same kind of material and construction without deduction for depreciation.
3. Residential Condominium Building Association Policy (RCBAP) Policy issued to insure a residential condominium building and all units within the building, provided that the building is located in a Regular Program…