Most NFIP policies now include the Increased Cost of Compliance rider- contact your flood insurance agent to verify this rider is on your flood insurance policy.
A building is eligible for an Increased Cost of Compliance (ICC) claim payment, up to $30,000, if it is located in a Special Flood Hazard Area (SFHA) and the structure meets certain eligibility criteria, including a substantial damage determination by the City.
Substantial damage is determined when the local building official certifies that a residential or commercial structure is damaged to the extent that the cost of restoring the building to before damaged conditions would equal or exceed 50 percent of the market value of the building prior to the flood.
In order to qualify for the ICC, home and business owners must submit the following to VB Planning/Permits and Inspections office:
- A letter stating your home/business was damaged greater than 50% due to flooding in any flood event
- Insurance proof of loss(es) and/or contractors’ estimates of sustained damages
- Elevation certificate
The City will verify the structure meets the ICC requirements and prepare a letter for submittal to FEMA/NFIP. Please note, ICC claims only apply to flood‐damaged structures, and can only be used to pay for costs of meeting the floodplain requirements as soon as reasonably possible after the loss, not to exceed two years. Any construction to a structure in a SFHA must comply with the Virginia Uniform Statewide Building Code and the City’s floodplain ordinance found in Appendix C, Section 5.B. Mitigation construction options eligible for ICC compliance to help reduce future flood damage are:
- Elevation ‐ Raise the structure to bring the lowest floor two foot above the base flood elevation (BFE).
- Relocation – Move your house or business to higher ground, out of the flood hazard zone.
- Demolition – Demolish your house or business and clear the site.
- Floodproofing – Applicable to non‐residential buildings ‐ It involves making a building watertight through approved methods
The Homeowner’s Guide to Retrofitting- six ways to protect your home against flooding details all ICC eligible activities .
https://www.fema.gov/media-library/assets/documents/480
For further information or any questions or concerns please feel free to contact Permits and Inspections at 385‐4211, option 4.