Hurricane Ike Victims to Receive Extra Benefits
Sunday, January 25th, 2009
FEMA released a statement this weekend saying some flood insurance policy holders that were affected by Hurricane Ike may be eligible to receive up to an extra $30,000 in benefits. This money would be awarded in addition to any claims made as a result of the storm.
The Increase Costs of Compliance (ICC) benefit is being awarded so that property owners will use it as preventative measure to safeguard their homes and businesses against future storms and floods.
- To qualify for this benefit, FEMA states a building must be:
- Covered by a National Flood Insurance Program standard policy,
- Located in a Special Flood Hazard Area, also known as a regulatory floodplain,
- Below the base flood level, and
- Either “substantially damaged” or a “repetitive loss property.
To obtain the ICC benefit, one must file a separate claim. Learn more about the ICC benefit and find more information about Hurricane Ike.
Restoration specialists can assist with preventative measures against flooding.
