Repetitive Loss means flood-related damages sustained by a structure on two separate occasions during a 10-year period for which the cost of repairs at the time of each such flood event, equals or exceeds twenty-five percent of the market value of the structure before the damage occurred.
Repetitive Loss means a residence that sustained two or more incidents of weather‑related flooding causing damages over one thousand dollars each within a period of ten consecutive years.
Repetitive Loss means damages sustained by a structure on two (2) separate occasions during a ten-year period for which the cost of repairs at the time of each such flood event on the average equals or exceeds 25% of the market value of the structure before the damage occurred.
Examples of Repetitive Loss in a sentence
Repetitive loss definitions vary.All NFIP communities are encouraged to update repetitive loss and Severe Repetitive Loss data, and CRS participating communities are required to review and update the data with each verification cycle visit.
If any data is found to be incorrect or needs to be updated, use the FEMA NFIP Repetitive Loss Property Update Form.
Single Family Lot Involving development or construction in a Wetlands, Wetlands Buffer, Steep Slope area, FEMA Repetitive Loss Area, and/or Flood Hazard Area.
For example, repetitive loss data, Severe Repetitive Loss data, other NFIP data for your community.
More Definitions of Repetitive Loss
Repetitive Loss means flood-related damages sustained by a structure on two separateoccasions during a 10-year period for which the cost where the construction of facilities for servicing the lots on which the cost of repairs at the time of each such flood event, on the average, equals or exceeds 25 percent of the market value of the structure before the damages occurred.
Repetitive Loss means any insurable structure for which two or more claims of more than $1,000 were paid by the National Flood Insurance Program (NFIP) within any rolling ten-year period since 1978.
Repetitive Loss means flood-related damages sustained by a structure on two separate occasions during a 10-year period ending on the date of the event for which the second claim is made, for which the cost of repairs at the time of each such flood event, on the average, equaled or exceeded 25% of the market value of the structure before the damages occurred.
Repetitive Loss means that a building covered by flood insurance incurred flood-related damage two times over a period of 10 years, and that the cost of the repairs was, on the average, at least 25 percent of the market value of the building before the damage occurred each time. This applies only if the community has adopted a repetitive loss provision in the local floodplain management ordinance. A flood insurance claim must have been paid in both cases. The combined damage total must be 50 percent of the pre-damage value of the building, but it need not be evenly distributed. So, if the damage was 35 percent of the value of the building in the first event and 15 percent of the value of the building in the second event, the policyholder would qualify for ICC coverage.
Repetitive Loss means flood-related damages sustained by a structure on two or more separate occasions during a 10-year period where the value of damages equals or exceeds an average of 50% of the current value of the structure, beginning on the date when the damage first occurred, or, four or more flood losses of the value determined by FEMA or more, over the life of the structure, or, three or more flood losses over the life of the structure that are equal to or greater than the current value of the structure.
Repetitive Loss means flood-related damages sustained by a structure during any ten-year period for which the total cost of repairs equals or exceeds fifty (50) percent of the market value of the structure before the damage occurred. Repetitive Loss damages include flood-related damages sustained prior to November 16, 2018 for which the cost of repairs equaled or exceeded twenty-five percent (25%) of the Market Value of the structure before the damage occurred if within the relevant 10-year period.
Repetitive Loss means flood-related damages sustained by a structure on two