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Dublin residents can now get flood insurance

Residents of the Town of Dublin now have the option to purchase flood insurance.
This is due to the fact that the town was recently accepted into the National Flood Insurance Program (NFIP) for the first time, according to Dublin Town Manager Bill Parker.
As of Nov. 3, residents of the town of Dublin are able to purchase flood insurance up to the limits under the regular phase of the NFIP. For single-family dwellings, the building coverage limit is $250,000, and the contents coverage limit is $100,000, according to a press release about the NFIP.
The press release also states that for commercial properties, the building and contents coverage limits are both $500,000.
Once flood insurance is purchased, there is a 30-day waiting period before flood insurance coverage goes into effect, the press release noted.
In years prior to 2006, the Town of Dublin had not been mapped for a Flood Insurance Rate Map (FIRM). Finally, the town was mapped with Pulaski County for a FIRM for 2006-07, Parker said.
He added that, at that time, the FIRM determined that the Town of Dublin had no flood zones.
However, now that Dublin has been accepted into the NFIP, residents are no longer excluded from purchasing flood insurance.
Lenders must require borrowers whose properties are located in a designated flood hazard area to purchase flood insurance as a condition of receiving a federally backed mortgage loan in accordance with the Federal Disaster Protection Act of 1973, the press release reads.
The NFIP is implemented through the Federal Emergency Management Agency (FEMA). There are more than 4 million flood insurance policies in more than 20,000 participating communities nationwide.

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Dublin residents can now get flood insurance

Residents of the Town of Dublin now have the option to purchase flood insurance.
This is due to the fact that the town was recently accepted into the National Flood Insurance Program (NFIP) for the first time, according to Dublin Town Manager Bill Parker.
As of Nov. 3, residents of the town of Dublin are able to purchase flood insurance up to the limits under the regular phase of the NFIP. For single-family dwellings, the building coverage limit is $250,000, and the contents coverage limit is $100,000, according to a press release about the NFIP.
The press release also states that for commercial properties, the building and contents coverage limits are both $500,000.
Once flood insurance is purchased, there is a 30-day waiting period before flood insurance coverage goes into effect, the press release noted.
In years prior to 2006, the Town of Dublin had not been mapped for a Flood Insurance Rate Map (FIRM). Finally, the town was mapped with Pulaski County for a FIRM for 2006-07, Parker said.
He added that, at that time, the FIRM determined that the Town of Dublin had no flood zones.
However, now that Dublin has been accepted into the NFIP, residents are no longer excluded from purchasing flood insurance.
Lenders must require borrowers whose properties are located in a designated flood hazard area to purchase flood insurance as a condition of receiving a federally backed mortgage loan in accordance with the Federal Disaster Protection Act of 1973, the press release reads.
The NFIP is implemented through the Federal Emergency Management Agency (FEMA). There are more than 4 million flood insurance policies in more than 20,000 participating communities nationwide.

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