Grandfathering 2
Grandfathering 2 : To recognize policyholders who have either built in compliance with the flood map and/or remained loyal customers of the NFIP by maintaining continuous coverage, FEMA has "grandfather" rules. These rules allow such policyholders to benefit in the rating for that building. For such buildings, the insured has the option of using the current rating criteria for that property or having the premium rate determined by using the BFE and/or flood insurance risk zone on the map in effect when the building was originally constructed (for those built in compliance) or when coverage was first obtained (for those with continuous coverage)
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