Repetitive loss structure means a structure, covered by a contract for flood insurance issued pursuant to the National Flood Insurance Act, that has incurred flood-related damage on two occasions during any 10-year period ending on the date of the event for which a second claim is made, in which the cost of repairing the flood damage, on average, equaled or exceeded 25% of the market value of the structure a the time of each such flood event.
Repetitive loss structure means home or business that was damaged by flood two times in the past ten years, where the cost of fully repairing the flood damage to the building, on the average, equaled or exceeded twenty-five percent of its market value at the time of each flood.
Repetitive loss structure means any structure with 2 or more flood losses, each greater than $1,000, in any 10 year period since 1978.
Examples of Repetitive loss structure in a sentence
At the ex-post evaluation, the Ministry of Rural Rehabilitation and Development is the supervising and implementing agency at the national level for rural infrastructure development.
Repetitive loss structure is a structure covered by a contract for flood insurance that has incurred flood related damages on two (2) separate occasions during a five-year period ending on the date of the event for which a second claim is made, in which the cost of repairing the flood damage, on the average, equaled or exceeded twenty-five (25) percent of the market value of the building at the time of each such flood event.
More Definitions of Repetitive loss structure
Repetitive loss structure means a property for which two (2) or more National Flood Insurance Program (NFIP) losses of at least $1,000 each have been paid within any 10-year rolling period since 1978.
Repetitive loss structure means a structure having suffered two NFIP insured flood damaged paid losses of more than $1,000 each in any 10-year period.
Repetitive loss structure means a structure covered under an NFIP flood insurance policy that:
Repetitive loss structure means a property for which two or more National Insurance Program losses of
Repetitive loss structure means a structure that was damaged by flood two or more times within any ten- year period, where the cost of fully repairing the flood damage to the structure, on average, equaled or exceeded twenty-five percent of its market value at the time of each flood.
Repetitive loss structure means a structure:
Repetitive loss structure means any structure with 2 or more flood losses, each greater than $1,000, in any 10-year period since 1978. (Wis Admin Code NR 199.03(17))