ICC coverage may help pay for flooded structures

Flood insurance policyholders in high risk flood areas (Special Flood Hazard Areas) may be able to receive up to $30,000 to help cover the cost of bringing a substantially damaged structure into compliance with the community’s floodplain management regulations according to the Federal Emergency Management Agency (FEMA).To qualify for ICC, or Increased Cost of Compliance, a structure must either be substantially, 50 percent or greater than the value of the building, or one that has been repeatedly damaged.
ICC is a part of most Standard National Flood Insurance Program policies sold by insurance companies.

ICC coverage can pay for four types of activities that will reduce the risk of future flood damage, the elevation or raising of the building, relocation; moving the building to another area; demolition, and the floodproofing to nonresidential buildings.

For more information regarding eligibility requirements please contact your personal insurance agent, the Arkansas Natural Resources Commission at 501-682-1611, or the FEMA NFIP Helpline at
800-621-3362 and select option 2 for insurance and ICC questions.

For updates on the Arkansas response and recovery, follow the Arkansas Department of Emergency Management (@AR_Emergencies) on Twitter and Facebook and http://www.adem.arkansas.gov/ .

Additional information is available at https://www.fema.gov/disaster/4318.

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