|  A - B  |  C  |  D - F  |  G - L  |  M - N  |  O - R  |  S - Z  |

O

• Other Residential--Hotels or motels where the normal occupancy of a guest is 6 months or more; a tourist home or rooming house which has more than four roomers. A residential building (excluding hotels and motels with normal room rentals for less than 6 months' duration) containing more than four dwelling units. Incidental occupancies such as office, professional private school, or studio occupancy, are permitted if the total area of such incidental occupancies are limited to less than 25 percent of the total floor area within the building.

• Out-As-Shown Determination--An alternative outcome of the FEMA letter of Map Amendment (LOMA) review process stating that a specific property is located outside the Special Flood Hazard Area as indicated on the Flood Hazard Boundary Map or the Flood Insurance Rate Map.

 

P

• Participating Community--A community for which FEMA has authorized the sale of flood insurance under the NFIP.

• Policy--The entire written contract between the insured and the insurer. It includes:

• ◦ The printed policy form;
• ◦ The application and Declarations Page;
• ◦ Any endorsement(s) that may be issued; and
• ◦ Any renewal certificate indicating that coverage has been instituted for a new policy and new policy term.
• • Only one dwelling, specifically described by the prospective policyholder in the application, may be insured under a policy.

• Pollutants--Substances that include, but are not limited to, any solid, liquid, gaseous, or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste. "Waste" includes, but is not limited to, materials to be recycled, reconditioned, or reclaimed.

• Ponding Hazard--A flood hazard that occurs in flat areas when there are depressions in the ground that collect "ponds" of water. The ponding hazard is represented by the zone designation AH on the FIRM.

• Post-FIRM Building--a building for which construction or substantial improvement occurred after December 31, 1974, or on or after the effective date of an initial Flood Insurance Rate Map (FIRM), whichever is later.

• Pre-FIRM Building--a building for which construction or substantial improvement occurred on or before December 31, 1974, or before the effective date of an initial Flood Insurance Rate Map (FIRM).

• Preferred Risk Policy (PRP)--A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP is available for property located in B,C, and X zones in Regular Program communities that meet eligibility requirements based on the property's flood loss history.

• Prepaid Amount (Total)--The total amount that must be submitted with an application or renewal in order to be acceptable for coverage. It is determined by adding the Federal Policy Fee to the Total Prepaid Premium.

• Prepaid Premium (Total)--The amount on the application (excluding the Preferred Risk Application) that includes the Annual Subtotal, the ICC Premium, the CRS Premium Discount (if applicable), the Probation Surcharge (if applicable).

• Presentment of Payment (Premium)--The date of receipt of premium at the office of the NFIP or the date of certified mail. In the case of transfer of title, the date of settlement or closing, when the premium is paid at that time.

• Principal Residence--A single-family dwelling in which, at the time of loss, the named insured or the named insured's spouse has lived for either 80 percent of the 365 days immediately preceding the loss, or 80 percent of the period of ownership, if less than 365 days.

• Principally Above Ground Building--A building that has at least 51 percent of its actual cash value, including machinery and equipment, above ground.

• Probation--A FEMA-imposed change in a community's status resulting from violations and deficiencies in the administration and enforcement of NFIP local floodplain management regulations.

• Probation Surcharge (Premium)--A flat charge that the policyholder must pay on each new or renewal policy issued covering property in a community that the NFIP has placed on probation under the provisions of 44 CFR 59.24.

• Proper Openings - Enclosures (Applicable to Zones A, A1-A30, AE, AO, AH, AR, and AR Dual)--All enclosures below the lowest elevated floor must be designed to automatically equalize hydrostatic flood forces on exterior walls by allowing for the entry and exit of floodwaters. A minimum of two openings, with positioning on at least two walls, having a total net area of not less than 1 square inch for every square foot of enclosed area subject to flooding must be provided. The bottom of all openings must be no higher than 1 foot above grade.

• Property Removed to Safety Expense--Up to $1,000 of reasonable expenses incurred by the insured to temporarily remove insured property from the described location because of flood or the imminent danger of flood.

• Provisional Rating--A method for placing flood coverage prior to the receipt of a FEMA Elevation Certificate.

 

R

• Regular Program--The final phase of a community's participation in the National Flood Insurance Program. In this phase, a Flood Insurance Rate Map is in effect and full limits of coverage are available under the Act.

• Regular Program Community--A community wherein a FIRM is in effect and full limits of coverage are available under the Act.

• Repetitive Loss Structure--An NFIP-insured structure that has had at least two paid flood losses of more than $1,000 each in any 10-year period since 1978.

• Replacement Cost Value (RCV)--The cost to replace property with the same kind of material and construction without deduction for depreciation.

• Residential Condominium Building--A building, owned and administered as a condominium, containing one or more family units and in which at least 75 percent of the floor area is residential.

• Residential Condominium Building Association Policy (RCBAP)--See "Standard Flood Insurance Policy-Residential Condominium Building Association Policy (RCBAP)."

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