Deductible Requirements

The following table describes the maximum deductible allowed by Homium for an NFIP or a private flood insurance policy.

Property Type

Deductible Requirement

One- to four-unit properties

The deductible must not exceed the maximum deductible amount currently offered by NFIP for one- to four-unit properties insured under an NFIP Dwelling Form.

Condo projects

The deductible must not exceed the maximum deductible amount currently offered by NFIP for condo projects insured by an RCBAP. This deductible requirement applies to all condo projects, regardless of the percentage of commercial space.

PUDs

The deductible on individual attached or detached PUD units must not exceed the maximum deductible amount currently offered by NFIP for one- to four-unit properties insured under an NFIP Dwelling Form.

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