Fill and Sign the 2016 Form Il 941 Illinois Withholding Income Tax Return

Previous Section Table of Contents Next Section CONDOMINIUMS Important Notice to Agents: Boards of Directors of condominium associations typically are responsible under their by-laws for maintaining all forms of property insurance necessary to protect the common property of the association against all hazards to which that property is exposed for the insurable value/replacement cost of those common elements. This responsibility would typically include providing adequate flood insurance protection for all common property located in Special Flood Hazard Areas. Such by-law requirements could make the individual members of the boards of directors of such associations personally liable for insurance errors or omissions, including those relating to flood insurance. I. METHODS OF INSURING CONDOMINIUMS There are four methods of insuring condominiums under the National Flood Insurance Program (NFIP). Each method has its own eligibility requirements for condominium type. A. Residential Condominium: Association Coverage on Building and Contents A condominium association is the corporate entity responsible for the management and operation of a condominium. Membership is made up of the condominium unit owners. A condominium association may purchase insurance coverage on a residential building and its contents under the Residential Condominium Building Association Policy (RCBAP). The RCBAP covers only a residential condominium building in a Regular Program community. If the named insured is listed as other than a condominium association, the agent must provide legal documentation to confirm that the insured is a condominium association. B. Residential Condominium: Unit Owner’s Coverage on Building and Contents A condominium unit in a townhouse, rowhouse, high-rise or low-rise building is considered to be a single family residence. An individual dwelling unit in a condominium building may be insured in any one of three ways: • An individual unit and its contents may be separately insured under the Dwelling Form, in the name of the unit owner, at the limits of insurance for a single family dwelling. • An individual unit may be separately insured under the Dwelling Form, if purchased by the association in the name of the "owner of record unit number (#) and (name of) Association as their interests may appear," up to the limits of insurance for a single family dwelling. • An individual unit owned by the association may be separately insured under the Dwelling Form, if purchased by the condominium association. The single family limits of insurance apply. A policy on a condominium unit will be issued naming the unit owner and the association, as their interests may appear. Coverage under a unit owner's policy applies first to the individually owned building elements and improvements to the unit and then to the damage of the building's common elements that are the unit owner's responsibility. In the event of a loss, the claim payment to an individual unit owner may not exceed the maximum allowable in the Program. C. Non-residential (Commercial) Condominium: Building and Contents Non-residential (commercial) condominium buildings and their commonly owned contents may be insured in the name of the Association under the General Property Form. The "Nonresidential" limits apply. Individual residential condominium units in nonresidential condominium buildings are not eligible for building coverage. CONDO 1 May 1, 2010 D. Non-residential (Commercial) Condominium: Unit Owner's Coverage (Contents) The owner of a non-residential condominium unit may purchase only contents coverage for that unit. Building coverage may not be purchased in the name of the unit owner. In the event of a loss, up to 10 percent of the stated amount of contents coverage can be applied to losses to condominium interior walls, floors, and ceilings. The 10 percent is not an additional amount of insurance. CONDO 2 May 1, 2010 TABLE 1. CONDOMINIUM UNDERWRITING GUIDELINES POLICY FORM RCBAP INSURED RESIDENTIAL CONDOMINIUM ASSOCIATION AND INDIVIDUAL UNIT OWNERS PROPERTY COVERED CONDOMINIUM BUILDING INDIVIDUALLY OWNED UNITS WITHIN THE BUILDING IMPROVEMENTS WITHIN UNIT ADDITIONS AND EXTENSIONS ATTACHED OR CONNECTED TO THE INSURED BUILDING FIXTURES, MACHINERY AND EQUIPMENT WITHIN BUILDING CONTENTS OWNED BY THE ASSOCIATION GENERAL PROPERTY FORM CONDOMINIUM ASSOCIATION AND INDIVIDUAL UNIT OWNERS CONDOMINIUM BUILDING INDIVIDUALLY OWNED UNITS WITHIN THE BUILDING IMPROVEMENTS WITHIN UNIT ADDITIONS AND EXTENSIONS ATTACHED OR CONNECTED TO THE INSURED BUILDING CONDO 3 FIXTURES, MACHINERY AND EQUIPMENT WITHIN BUILDING ELIGIBILITY REQUIREMENTS COMMUNITY MUST BE IN REGULAR PROGRAM REPLACEMENT COVERAGE YES ICC YES AT LEAST 75% OF FLOOR AREA MUST BE RESIDENTIAL BUILDINGS INCLUDE TOWNHOUSES, ROWHOUSES, LOW-RISE, HIGH-RISE, AND DETACHED SINGLE FAMILY CONDOMINIUM BUILDINGS NO YES BUILDING ELEMENTS INDIVIDUALLY OWNED CONTENTS # UNITS 1 – $40 2-4 – $80/POLICY 5-10 – $200/POLICY 11-20 – $440/POLICY – $840/POLICY 21 + EMERGENCY PROG. (ACV MAXIMUM LIMITS): NO $40.00 YES2 $40.00 NO $40.00 RESIDENTIAL: BUILDING $100,000 CONTENTS $10,000 RESIDENTIAL CONDOMINIUM BUILDING IN AN EMERGENCY PROGRAM COMMUNITY NON-RESIDENTIAL: BUILDING $100,000 CONTENTS $100,000 REGULAR PROGRAM (ACV MAXIMUM LIMITS): NON-RESIDENTIAL COMMON BUILDING ELEMENTS AND THEIR CONTENTS CONDOMINIUM ASSOCIATION AND/OR INDIVIDUAL UNIT OWNERS NO FEDERAL POLICY FEE CONTENTS ACTUAL CASH VALUE (ACV) OF COMMONLY OWNED CONTENTS TO A MAXIMUM OF $100,000 PER BUILDING. CONTENTS OWNED BY THE ASSOCIATION DWELLING FORM MAXIMUM LIMITS: ASSESSMENT COVERAGE BUILDING REPLACEMENT COST, OR THE TOTAL NUMBER OF UNITS X $250,000, WHICHEVER IS LESS RESIDENTIAL CONDOMINIUM BUILDINGS INCLUDING HOMEOWNER ASSOCIATIONS (HOA) AND TIMESHARES IN THE CONDOMINIUM FORM OF OWNERSHIP CONDOMINIUM BUILDING IN A REGULAR PROGRAM COMMUNITY WITH LESS THAN 75% OF ITS FLOOR AREA IN RESIDENTIAL USE. COVERAGE LIMITS BUILDING $500,000 CONTENTS $500,000 ALL RESIDENTIAL CONDOMINIUM UNITS YES 1 NO EMERGENCY AND REGULAR PROGRAMS ARE ELIGIBLE EMERGENCY PROG. (MAXIMUM LIMITS): BUILDING $35,000 CONTENTS $10,000 REGULAR PROGRAM (MAXIMUM LIMITS): BUILDING $250,000 CONTENTS $100,000 GENERAL PROPERTY FORM INDIVIDUAL UNIT OWNERS AND TENANTS NON-RESIDENTIAL CONDO UNITS (ONLY CONTENTS ARE AVAILABLE) COMMERCIAL CONTENTS ONLY EMERGENCY AND REGULAR PROGRAMS ARE ELIGIBLE Footnote: NO NO EMERGENCY PROG.: $100,000 MAXIMUM REGULAR PROGRAM: $500,000 MAXIMUM These are basic guidelines for condominium associations and unit owners. Please refer to appropriate section of the Flood Insurance Manual for specific details. 1 Subject to replacement cost provisions in policy. 2 ICC coverage does not apply to the Emergency Program, individually owned condominium units insured under Dwelling or General Property Forms, Contents-only Policies, and Group Flood Insurance Policies. May 1, 2010 TABLE 2. CONDOMINIUM RATING CHART LOW-RISE RESIDENTIAL CONDOMINIUMS SINGLE UNIT BUILDING OR TOWNHOUSE/ROWHOUSE TYPE BUILDING WITH SEPARATE ENTRANCE FOR EACH UNIT PURCHASER OF POLICY UNIT OWNER ASSOCIATION (ASSOCIATION-OWNED SINGLE UNIT ONLY) ASSOCIATION (ENTIRE BUILDING) Building Occupancy1 Building Indicator1 Contents Indicator2 Type of Coverage Rate Table3 Policy Form4 SINGLE FAMILY SINGLE UNIT HOUSEHOLD RC5 SINGLE FAMILY DWELLING 5 SINGLE FAMILY DWELLING RCBAP LOW-RISE RCBAP SINGLE FAMILY SINGLE UNIT HOUSEHOLD RC DETERMINED BY THE NUMBER OF UNITS , I.E., SINGLE FAMILY, 2-4 FAMILY, OTHER RESIDENTIAL LOW-RISE HOUSEHOLD RC MULTI-UNIT BUILDING 2 TO 4 UNITS PER BUILDING REGARDLESS OF NUMBER OF FLOORS (NON-TOWNHOUSE) Building Occupancy1 Building Indicator1 Contents Indicator2 Type of Coverage UNIT OWNER 2-4 SINGLE UNIT HOUSEHOLD ASSOCIATION (ASSOCIATION-OWNED SINGLE UNIT ONLY) 2-4 SINGLE UNIT ASSOCIATION (ENTIRE BUILDING) 2-4 LOW-RISE PURCHASER OF POLICY CONDO 4 Rate Table3 Policy Form4 RC5 SINGLE FAMILY FOR BUILDING; 2-4 FAMILY FOR CONTENTS DWELLING HOUSEHOLD RC5 SINGLE FAMILY FOR BUILDING; 2-4 FAMILY FOR CONTENTS DWELLING HOUSEHOLD RC RCBAP LOW-RISE RCBAP Rate Table3 Policy Form4 SINGLE FAMILY FOR BUILDING; OTHER RESIDENTIAL FOR CONTENTS DWELLING SINGLE FAMILY FOR BUILDING; OTHER RESIDENTIAL FOR CONTENTS DWELLING RCBAP LOW-RISE RCBAP MULTI-UNIT BUILDING 5 OR MORE UNITS PER BUILDING LESS THAN THREE FLOORS PURCHASER OF POLICY UNIT OWNER May 1, 2010 1 Building Occupancy1 OTHER RESIDENTIAL Building 1 Indicator SINGLE UNIT Contents Indicator2 HOUSEHOLD Type of Coverage RC 5 5 ASSOCIATION (ASSOCIATION-OWNED SINGLE UNIT ONLY) OTHER RESIDENTIAL SINGLE UNIT HOUSEHOLD RC ASSOCIATION (ENTIRE BUILDING) OTHER RESIDENTIAL LOW-RISE HOUSEHOLD RC When there is a mixture of residential and commercial usage within a single building, please refer to the GR Section of the Flood Insurance Manual. In determining the contents indicator for “other than household contents,” please refer to the RATE Section of the Flood Insurance Manual. All building rates are based on the lowest floor of the building. 4 RCBAP must be used to insure residential condominium buildings owned by the association that are in a Regular Program community and in which at least 75% of the total floor area within the building is residential. Use General Property Form if ineligible under RCBAP. 5 Replacement Cost if the RC eligibility requirements are met (building only). 2 3 TABLE 2. CONDOMINIUM RATING CHART (Cont’d) HIGH-RISE RESIDENTIAL CONDOMINIUMS 6 MULTI-UNIT BUILDING 5 OR MORE UNITS PER BUILDING THREE OR MORE FLOORS PURCHASER OF POLICY Building Occupancy1 Building 1 Indicator Contents 2 Indicator Type of Coverage Rate Table3 Policy Form4 UNIT OWNER OTHER RESIDENTIAL SINGLE UNIT HOUSEHOLD RC5 SINGLE FAMILY FOR BUILDING; OTHER RESIDENTIAL FOR CONTENTS DWELLING ASSOCIATION (ASSOCIATION-OWNED SINGLE UNIT ONLY) OTHER RESIDENTIAL SINGLE UNIT HOUSEHOLD RC SINGLE FAMILY FOR BUILDING; OTHER RESIDENTIAL FOR CONTENTS DWELLING ASSOCIATION (ENTIRE BUILDING) OTHER RESIDENTIAL HIGH-RISE HOUSEHOLD RC RCBAP HIGH-RISE RCBAP Building 1 Indicator Contents 2 Indicator Type of Coverage Rate Table3 Policy Form4 5 NON-RESIDENTIAL CONDOMINIUMS PURCHASER OF POLICY Building Occupancy1 UNIT OWNER NON-RESIDENTIAL (BUILDING COVERAGE NOT AVAILABLE) BUSINESS ACV NON-RESIDENTIAL GENERAL PROPERTY ASSOCIATION NON-RESIDENTIAL LOW-RISE BUSINESS ACV NON-RESIDENTIAL GENERAL PROPERTY CONDO 5 SINGLE UNIT May 1, 2010 1 When there is a mixture of residential and commercial usage within a single building, please refer to the GR Section of the Flood Insurance Manual. In determining the contents indicator for “other than household contents,” please refer to the RATE Section of the Flood Insurance Manual. All building rates are based on the lowest floor of the building. 4 RCBAP must be used to insure residential condominium buildings owned by the association that are in a Regular Program community and in which at least 75% of the total floor area within the building is residential. Use General Property Form if ineligible under RCBAP. 5 Replacement Cost if the RC eligibility requirements are met (building only). 6 Enclosure, even if it is the lowest floor for rating, cannot be counted as a floor for the purpose of classifying the building as a high rise. 2 3 RESIDENTIAL CONDOMINIUM BUILDING ASSOCIATION POLICY II. POLICY FORM The policy form used for the residential condominium buildings owned by a condominium association is the Residential Condominium Building Association Policy (RCBAP). III. ELIGIBILITY REQUIREMENTS A. General Building Eligibility In order for a condominium building to be eligible under the RCBAP form, the building must be owned by a condominium association, which the NFIP defines as the entity made up of the unit owners responsible for the maintenance and operation of: 1. common elements owned in undivided shares by unit owners; and 2. other real property in which the unit owners have use rights; where membership in the entity is a required condition of unit ownership. The RCBAP is required for all buildings owned by a condominium association containing one or more residential units and in which at least 75 percent of the total floor area within the building is residential without regard to the number of units or number of floors. The RCBAP is available for high-rise and low-rise residential condominium buildings, including townhouse/rowhouse and detached single-family condominium buildings in the Regular Program only. (See pages CONDO 4 and 5.) If, during a policy term, the risk fails to meet the eligibility requirements, it will be ineligible for renewal as an RCBAP. The NFIP has grouped condominium buildings into two different types, low- and high-rise, because of the difference in the exposures to the risk that typically exists. Low-rise buildings generally have a greater percentage of the value of the building at risk than high-rise buildings, thus requiring higher premiums for the first dollars of coverage. The availability of the optional deductibles for the low-rise buildings, however, allows the association to buy back some of the risk, thereby reducing the overall cost of the coverage. For rating purposes: • High-rise buildings contain five or more units and at least three floors excluding enclosure, even if it is the lowest floor for rating. • Low-rise buildings have less than five units regardless of the number of floors, or five or more units with less than three floors, including the basement. • Townhouse/rowhouse buildings are always considered as low-rise buildings for rating purposes, no matter how many units or floors they have. See the Definitions section for a complete definition of high-rise and low-rise buildings. The individual unit owners continue to have an option to purchase an SFIP Dwelling Form. B. Condominium Building in the Course of Construction Only buildings having a condominium form of ownership are eligible for the RCBAP. If the named insured is listed as other than a condominium association, the agent must provide legal documentation to confirm that the insured is a condominium association. A homeowners association (HOA) may differ from a condominium form of ownership. Cooperative ownership buildings are not eligible. Timeshare buildings having condominium form of ownership in jurisdictions where title is vested in individual unit owners are eligible provided all other criteria are met. The NFIP rules allow the issuance of an SFIP to cover a building in the course of construction before the building is walled and roofed. These rules provide lenders an option to require flood insurance coverage at the time that the development loan is made to comply with the mandatory purchase requirement outlined in the Flood Disaster Protection Act of 1973, as amended. The policy is issued and rated based on the construction designs and intended use of the building. Residential condominium buildings that are being used as a hotel or motel, or are being rented (either short- or long-term), must be insured on the RCBAP. In order for a condominium building in the course of construction to be eligible under the RCBAP form, the building must be owned by a condominium association. CONDO 6 May 1, 2010 As noted on page GR 4, buildings in the course of construction that have yet to be walled and roofed are eligible for coverage except when construction has been halted for more than 90 days and/or if the lowest floor used for rating purposes is below the Base Flood Elevation (BFE). Materials or supplies intended for use in such construction, alteration, or repair are not insurable unless they are contained within an enclosed building on the premises or adjacent to the premises. • For condominium unit owners who have insured their personal property under the Dwelling Form or General Property Form, coverage extends to interior walls, floor, and ceiling (if not covered under the condominium association’s insurance) up to 10 percent of the personal property limit of liability. Use of this coverage is at the option of the insured and reduces the personal property limit of liability. C. Replacement Cost IV. COVERAGE A. Property Covered The entire building is covered under one policy, including both the common as well as individually owned building elements within the units, improvements within the units, and contents owned in common. Contents owned by individual unit owners should be insured under an individual unit owner's Dwelling Form. As stated above in “B. Coverage Limits,” the RCBAP’s building coverage is on a Replacement Cost valuation basis. Replacement Cost Value means the cost to replace property with the same kind of material and construction without deduction for depreciation. A condominium unit owner’s Dwelling Form policy provides Replacement Cost coverage on the building if eligibility requirements are met. D. B. Coinsurance Coverage Limits Building coverage purchased under the RCBAP will be on a Replacement Cost basis. The maximum amount of building coverage that can be purchased on a high-rise or low-rise condominium is the Replacement Cost Value of the building or the total number of units in the condominium building times $250,000, whichever is less. The maximum allowable contents coverage is the Actual Cash Value of the commonly owned contents up to a maximum of $100,000 per building. Basic Limit Amount: • The building basic limit amount of insurance for a detached building housing a single family unit owned by the condominium association is $60,000. • For residential townhouse/rowhouse and lowrise condominiums, the building basic limit amount of insurance is $60,000 multiplied by the number of units in the building. The RCBAP’s coinsurance penalty is applied to building coverage only. To the extent that the insured has not purchased insurance in an amount equal to the lesser of 80 percent or more of the full replacement cost of the building at the time of loss or the maximum amount of insurance under the NFIP, the insured will not be reimbursed fully for a loss. Building coverage purchased under individual Dwelling Forms cannot be added to RCBAP coverage in order to avoid the coinsurance penalty. The amount of loss in this case will be determined by using the following formula: Insurance Carried X Amount of Loss = Limit of Recovery Insurance Required Where the penalty applies, building loss under the RCBAP will be adjusted based on the Replacement Cost Coverage with a coinsurance penalty. Building loss under the Dwelling Form will be adjusted on an Actual Cash Value (ACV) basis if the Replacement Cost provision is not met. The cost of bringing the building into compliance with local codes (law and ordinance) is not included in the calculation of replacement cost. E. Assessment Coverage • For high-rise condominiums, the building basic amount of insurance is $175,000. The RCBAP does not provide assessment coverage. • The contents basic limit amount of insurance is $25,000. Assessment coverage is available only under the Dwelling Form subject to the conditions and exclusions found in Section III. Property Covered, CONDO 7 May 1, 2010 Coverage C, paragraph 3 – Condominium Loss Assessments. The Dwelling Form will respond, up to the building coverage limit, to assessments against unit owners for damages to common areas of any building owned by the condominium association, even if the building is not insured, provided that: (1) each of the unit owners comprising the membership of the association is assessed by reason of the same cause; and (2) the assessment arises out of a direct physical loss by or from flood to the condominium building at the time of the loss. Assessment coverage has a maximum combined total limit of $250,000 times the number of units. This combined total limit covers loss to the unit and any assessment by the association. VI. TENTATIVE RATES AND SCHEDULED BUILDINGS Assessment coverage cannot be used to meet the 80-percent coinsurance provision of the RCBAP, and does not apply to ICC coverage or to coverage for closed basin lakes. Unit owner’s Dwelling Policies may be cancelled mid-term for the reasons mentioned in the Cancellation/Nullification section of the manual. To cancel building coverage while retaining contents coverage on a unit owner's policy, submit a General Change Endorsement form. In the event of a cancellation: For more information on this topic, see “E. Loss Assessments” on page GR 13 and Section III. C.3. of the Dwelling Form, “Condominium Loss Assessments,” on page POL 8. V. DEDUCTIBLES AND FEES A. Deductibles For all policies rated other than those described above, e.g., those rated as Post-FIRM and those rated in Zones A99, B, C, D, or X, the Standard Deductible is $1,000. Optional deductible amounts are available under the RCBAP. Federal Policy Fee The Federal Policy Fees for the RCBAP are: 1 2-4 5-10 11-20 21 or unit units units units more - $ 40.00 $ 80.00 $ 200.00 $ 440.00 $ 840.00 VII. COMMISSIONS (DIRECT BUSINESS ONLY) The commission, 15 percent, will be reduced to 5 percent on only that portion of the premium that exceeds the figure resulting from multiplying the total number of units times $2,000. VIII. CANCELLATION OR ENDORSEMENT OF UNIT OWNERS' DWELLING POLICIES • The commission on a unit owner's policy will be retained, in full, by the producer, • The Federal Policy Fee and Probation Surcharge will be refunded on a pro rata basis, and The loss deductible shall apply separately to each building and personal property covered loss including any appurtenant structure loss. The Standard Deductible is $2,000 for a residential condominium building, located in a Regular Program Community in Special Flood Hazard Areas, i.e., Zones A, AO, AH, A1-A30, AE, AR, AR dual zones (AR/AE, AR/AH, AR/AO, AR/A1-A30, AR/A), V, V1-V30, or VE, where the rates available for buildings built before the effective date of the initial Flood Insurance Rate Map (FIRM), PreFIRM rates, are used to compute the premium. B. Tentative Rates cannot be applied to the RCBAP. The Scheduled Building Policy is not available for the RCBAP. per policy per policy per policy per policy per policy • The premium refund will be calculated on a pro rata basis. An existing Dwelling Policy or RCBAP may be endorsed to increase amounts of coverage in accordance with Endorsement rules. They may not be endorsed mid-term to reduce coverage. IX. APPLICATION FORM The producer should complete the entire Flood Insurance Application according to the directions in the Application section of this manual and attach two new photographs of the building, one of which clearly shows the location of the lowest floor used for rating the risk. A. Type of Building For an RCBAP, the “Building” section of the Flood Insurance Application must indicate the total number of units in the building and whether the building is a high rise or low rise. High-rise (vertical) condominium buildings are defined as containing at least five units, and having at least three floors. Note that an enclosure below an elevated floor building, even if CONDO 8 May 1, 2010 it is the lowest floor for rating purposes, cannot be counted as a floor to classify the building as a high-rise condominium building. The building Basic Limit amount of insurance for high-rise condominium buildings is up to a maximum of $175,000. Low-rise condominium buildings are defined as having less than five units and/or less than three floors. In addition, low-rise also includes all townhouses/rowhouses regardless of the number of floors or units, and all detached single family buildings. The building Basic Limit amount of insurance for low-rise condominium buildings is $60,000 multiplied by the number of units in the building. The total amount of coverage desired on the entire building must not exceed $250,000 (Regular Program limit) times the total number of units (residential and non-residential) in the building. For a Dwelling Form used to insure a condominium unit, or for a Condominium Association Policy, see the Application section of this manual. B. 2. Since the Program type must be Regular, enter the amount of insurance for contents, Basic and Additional Limits. Enter full Basic Limits before any Additional Limits. Contents coverage is only for those contents items that are commonly owned. For the Basic Limits amount of insurance, up to a maximum of $25,000 may be filled in. For the Additional Limits, up to a total of $75,000 may be filled in. The total amount of insurance available for contents coverage cannot exceed $100,000. Replacement Cost Value For an RCBAP, use normal company practice to estimate the Replacement Cost Value (RCV) and enter the value in the “Building” section of the Application. Include the cost of the building foundation when determining the RCV. Attach the appropriate valuation to the Application. Acceptable documentation of a building's RCV is a recent property inspection report that states the building's value on an RCV basis. The cost of the building's foundation must be included in determining the RCV. The cost of bringing the building into compliance with local codes (law and ordinance) is not to be included in the calculation of the building's replacement cost. To maintain reasonable accuracy of the RCV for the building, the agent must update this information at least every 3 years. Contents D. Rates and Fees 1. To determine rates, see the RCBAP Rate Tables on the following pages. Enter the rate for building and for contents and compute the annual premium. If an optional deductible has been selected for building and/or contents, see page CONDO 22. 2. Enter the total premium for building and contents, adjusted for any premium change because of an optional deductible being selected. The total premium will be calculated as if the building were one unit. If only building insurance is to be purchased, inform the applicant of the availability of contents insurance for contents that are commonly owned. It is recommended that the applicant initial the contents coverage section if no contents insurance is requested. (This will make the applicant aware that the policy will not provide payment for contents losses.) 3. Add the total premium for building and contents and enter the Annual Subtotal. 4. Add the ICC premium. 5. Calculate the CRS discount, if applicable. 6. Subtract the CRS discount, if applicable. 1. 7. Add the $50.00 Probation Surcharge, if applicable. 8. Add the Federal Policy Fee to determine the Total Prepaid Amount. C. Coverage Ensure that the “Coverage and Rating” section of the Application accurately reflects the desired amount of building and contents coverage. Building Enter the amount of insurance for building, Basic and Additional Limits. Enter full Basic Limits before entering any Additional Limits. CONDO 9 May 1, 2010 TABLE 3A. RCBAP HIGH-RISE CONDOMINIUM RATES ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) BUILDING BUILDING TYPE No Basement/Enclosure With Basement With Enclosure Elevated on Crawlspace Non-Elevated with Subgrade Crawlspace REGULAR PROGRAM PRE-FIRM1 REGULAR PROGRAM POST-FIRM A, A1-A30, AE, AO, AH, D .85/.21 .90/.28 .90/.21 .85/.21 V, VE 1.08/ .51 1.15/1.08 1.15/ .53 1.08/ .51 A99, B, C, X 1.06/.05 1.29/.07 1.12/.05 1.06/.05 A99, B, C, X 1.06/.05 1.29/.07 1.12/.05 1.06/.05 D 1.16/.24 SUBMIT FOR RATE 1.16/.24 .85/.21 1.08/ .51 1.06/.05 1.06/.05 1.16/.24 CONTENTS CONTENTS LOCATION REGULAR PROGRAM PRE-FIRM1 REGULAR PROGRAM POST-FIRM A, A1-A30, AE, AO, AH, D V, VE Basement/Subgrade Crawlspace and above .96/ .86 1.23/2.14 1.53/.56 1.53/.56 Enclosure/Crawlspace and above .96/1.03 1.23/2.53 1.53/.65 1.53/.65 .96/1.03 1.23/2.53 1.20/.59 1.20/.59 1.11/.70 .96/ .71 1.23/2.23 1.20./.34 1.20/.34 1.11/.48 .47/.32 .35/.12 .35/.12 .35/.12 Lowest floor onlyabove ground level Lowest floor above ground level and higher floors Above ground level more than 1 full floor .35/.13 A99, B, C, X A99, B, C, X D SUBMIT FOR RATE BUILDING—A1-A30, AE · POST-FIRM ELEVATION +4 +3 +2 +1 0 -12 -2 3 OR MORE FLOORS 3 OR MORE FLOORS NO BASEMENT/ENCLOSURE/CRAWLSPACE3 WITH BSMNT/ENCL/CRAWLSPACE3 .33/.03 .33/.03 .35/.03 .34/.03 .40/.03 .36/.03 .72/.04 .53/.04 1.28/.05 1.15/.05 5.26/.15 2.98/.12 S U B M I T F O R R AT E CONTENTS—A1-A30, AE · POST-FIRM ELEVATION +4 +3 +2 +1 0 -12 -2 LOWEST FLOOR LOWEST FLOOR ABOVE GROUND LEVEL AND HIGHER ONLY- ABOVE GROUND LEVEL (NO BSMNT/ENCL/ (NO BSMNT/ENCLOSURE/ CRAWLSPACE3) CRAWLSPACE3) .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .52/.12 .38/.12 1.24/.12 .69/.12 3.74/.75 2.11/.58 S U B M I T F O R R AT E BASEMENT/ ENCLOSURE/ CRAWLSPACE3 AND ABOVE .38/.12 .38/.12 .38/.12 .38/.12 .41/.12 .60/.14 ABOVE GROUND LEVEL MORE THAN ONE FULL FLOOR .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 1 Start of construction or substantial improvement on or before 12/31/74, or before the effective date of the initial Flood Insurance Rate Map (FIRM). If FIRM Zone is unknown, use rates for Zones A, AE, AO, AH, D. 2 Use Submit-for-Rate guidelines if either the enclosure below the lowest elevated floor of an elevated building or the crawlspace (under-floor space) that has its interior floor within 2 feet below grade on all sides, which is used for rating, is 1 or more feet below BFE. 3 Includes subgrade crawlspace. CONDO 10 May 1, 2010 TABLE 3B. RCBAP HIGH-RISE CONDOMINIUM RATES ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) AO, AH POST-FIRM NO BASEMENT/ENCLOSURE/CRAWLSPACE/SUBGRADE CRAWLSPACE BUILDINGS1 BUILDING 2 CONTENTS WITH CERTIFICATION OF COMPLIANCE .44/.04 .38/.13 WITHOUT CERTIFICATION OF COMPLIANCE 3 OR WITHOUT ELEVATION CERTIFICATE .99/.08 1.18/.24 POST-FIRM UNNUMBERED A-ZONE - WITHOUT BASEMENT/ENCLOSURE/CRAWLSPACE/SUBGRADE CRAWLSPACE1,7 ELEVATION DIFFERENCE TO NEAREST FOOT BUILDING CONTENTS 4 TYPE OF ELEVATION CERTIFICATE +5 OR MORE .80/.05 .61/.12 +2 TO +4 +1 0 OR BELOW +2 OR MORE 1.40/.06 2.29/.14 *** .69/.04 .86/.17 1.52/.56 *** .50/.12 NO ESTIMATED 5 BASE FLOOD ELEVATION 1.23/.06 5.14/.17 *** 6.53/1.26 .84/.16 2.44/.73 *** 3.33/.99 WITH ESTIMATED 6 BASE FLOOD ELEVATION 0 TO +1 -1 -2 OR BELOW NO ELEVATION CERTIFICATE NO ELEVATION CERTIFICATE 1 Zones A, AO, or AH buildings with basement/enclosure/crawlspace/subgrade crawlspace--Submit for Rating. 2 “With Certification of Compliance” rates are to be used when the Elevation Certificate shows that the lowest floor elevation is equal to or greater than the community’s elevation requirement. 3 “Without Certification of Compliance” rates are to be used only on Post-FIRM structures without an Elevation Certificate or when the Elevation Certificate shows that the lowest floor elevation of a PostFIRM structure is less than the community’s elevation requirement. 4 For elevation rated policies, when contents are located one floor or more above lowest floor used for rating, use .35/.12. 5 NO ESTIMATED BASE FLOOD ELEVATION: Elevation difference is the measured distance between the lowest floor of the building and the highest adjacent grade next to the building. 6 WITH ESTIMATED BASE FLOOD ELEVATION: Elevation difference is the measured distance between the lowest floor of the building and the estimated BFE provided by the community or registered professional engineer, surveyor, or architect. 7 Pre-FIRM buildings with basement/enclosure/crawlspace/subgrade crawlspace may use this table if the rates are more favorable to the insured. ***SUBMIT FOR RATING. CONDO 11 October 1, 2009 TABLE 3C. RCBAP HIGH-RISE CONDOMINIUM RATES ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) AR AND AR DUAL ZONES BUILDING PRE-FIRM 1,2 AND POST-FIRM3 NOT ELEVATION-RATED BUILDING TYPE RATES No Basement/Enclosure With Basement With Enclosure Elevated on Crawlspace Non-Elevated with Subgrade Crawlspace 1.06/.05 1.29/.07 1.12/.05 1.06/.05 1.06/.05 CONTENTS PRE-FIRM 1,2 AND POST-FIRM3 NOT ELEVATION-RATED CONTENTS LOCATION Basement/Subgrade Crawlspace and above Enclosure/Crawlspace and above Lowest floor onlyabove ground level Lowest floor above ground level and higher floors Above ground level more than 1 full floor RATES 1.53/.56 1.53/.65 1.20/.59 1.20/.34 .35/.12 BUILDING PRE-FIRM AND POST-FIRM ELEVATION-RATED ELEVATION +4 +3 +2 +1 0 -1 3 OR MORE FLOORS NO BASEMENT/ENCLOSURE/CRAWLSPACE5 .33/.03 .35/.03 .40/.03 .72/.04 1.06/.05 4 3 OR MORE FLOORS WITH BASEMENT/ENCLOSURE/ CRAWLSPACE5 .33/.03 .34/.03 .36/.03 .53/.04 1.15/.05 See Footnote CONTENTS PRE-FIRM AND POST-FIRM ELEVATION-RATED ELEVATION +4 +3 +2 +1 0 4 -1 LOWEST FLOOR ONLY ABOVE GROUND LEVEL (NO BSMNT/ENCL/CRAWLSPACE5) .38/.12 .38/.12 .38/.12 .52/.12 1.24/.12 LOWEST FLOOR ABOVE GROUND LEVEL AND HIGHER (NO BSMNT/ENCL/CRAWLSPACE5) .38/.12 .38/.12 .38/.12 .38/.12 .69/.12 BASEMENT/ ENCLOSURE/ CRAWLSPACE5 AND ABOVE .38/.12 .38/.12 .38/.12 .38/.12 .41/.12 ABOVE GROUND LEVEL - MORE THAN ONE FULL FLOOR .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 See Footnote 1 Start of construction or substantial improvement on or before 12/31/74, or before the effective date of the initial Flood Insurance Rate Map (FIRM). 2 Base deductible is $2,000. 3 Base deductible is $1,000. 4 Use Pre-FIRM Not Elevation-Rated AR and AR Dual Zones Rate Table above. 5 Includes subgrade crawlspace. CONDO 12 October 1, 2009 TABLE 3D. RCBAP HIGH-RISE CONDOMINIUM RATES ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) REGULAR PROGRAM – 1975-19811 POST-FIRM CONSTRUCTION2 FIRM ZONES V1-V30, VE – BUILDING RATES BUILDING TYPE ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE 3 OR MORE FLOORS NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 2.76/.14 8.08/.58 *** 03 -14 -2 3 OR MORE FLOORS WITH BASEMENT/ENCLOSURE/ CRAWLSPACE5 2.63/.14 4.24/.43 *** 1975-1981 POST-FIRM CONSTRUCTION FIRM ZONES V1-V30, VE – CONTENTS RATES CONTENTS LOCATION ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE 03 -14 -2 LOWEST FLOOR ONLY−ABOVE GROUND LEVEL (NO BASEMENT/ ENCLOSURE/ CRAWLSPACE5) 4.09/.57 9.01/4.37 LOWEST FLOOR ABOVE GROUND LEVEL AND HIGHER FLOORS (NO BASEMENT/ENCLOSURE/ CRAWLSPACE5) 2.68/.63 5.32/3.37 BASEMENT/ ENCLOSURE/ CRAWLSPACE5 AND ABOVE 1.50/.70 1.77/.70 ABOVE GROUND LEVEL−MORE THAN ONE FULL FLOOR *** *** *** *** .56/.26 .56/.26 1 Policies for 1975 through 1981 Post-FIRM and Pre-FIRM buildings in Zones VE and V1-V30 will be allowed to use the Post-’81 V Zone rate table if the rates are more favorable to the insured. See instructions on page RATE 23 for V Zone Optional Rating. 2 For 1981 Post-FIRM construction rating, refer to pages CONDO 19-20. 3 These rates are to be used if the lowest floor of the building is at or above the BFE. 4 Use Submit-for-Rate guidelines if the enclosure below the lowest floor of an elevated building, which is used for rating, is 1 or more feet below BFE. 5 Includes subgrade crawlspace. ***SUBMIT FOR RATING. REGULAR PROGRAM 1975-1981 POST-FIRM CONSTRUCTION UNNUMBERED V ZONE – ELEVATED BUILDINGS SUBMIT FOR RATING CONDO 13 May 1, 2010 TABLE 4A. RCBAP LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) REGULAR PROGRAM – PRE-FIRM CONSTRUCTION RATES1 F I R M Z O N E S: BUILDING TYPE A, A1-A30, AE, AO, AH, D V, VE A99, B, C, X BUILDING CONTENTS BUILDING CONTENTS BUILDING CONTENTS NO BASEMENT/ENCLOSURE .70/.54 .96/1.03 .93/1.45 1.23/2.69 .74/.21 1.20/.37 WITH BASEMENT .75/.67 .96/.86 1.00/2.52 1.23/2.53 .81/.30 1.36/.46 WITH ENCLOSURE .75/.79 .96/.89 1.00/2.74 1.23/2.75 .81/.34 1.36/.54 ELEVATED ON CRAWLSPACE .70/.54 .96/1.03 .93/1.45 1.23/2.69 .74/.21 1.20/.37 NON-ELEVATED WITH .70/.54 .96/1.03 .93/1.45 1.23/2.69 .74/.21 1.20/.37 SUBGRADE CRAWLSPACE REGULAR PROGRAM – POST-FIRM CONSTRUCTION RATES A99, B, C, X F I R M Z O N E S: BUILDING TYPE D BUILDING CONTENTS BUILDING CONTENTS NO BASEMENT/ENCLOSURE .74/.21 1.20/.37 1.03/.39 1.11/.70 WITH BASEMENT .81/.30 1.36/.46 *** *** WITH ENCLOSURE .81/.34 1.36/.54 *** *** ELEVATED ON CRAWLSPACE .74/.21 1.20/.37 1.03/.39 1.11/.70 NON-ELEVATED WITH .74/.21 1.20/.37 1.03/.39 1.11/.70 SUBGRADE CRAWLSPACE F I R M Z O N E S: AO, AH (NO BASEMENT/ENCLOSURE/CRAWLSPACE BUILDINGS ONLY2) BUILDING CONTENTS WITH CERTIFICATION OF COMPLIANCE3 .21/.08 .38/.13 WITHOUT CERTIFICATION OF COMPLIANCE OR WITHOUT ELEVATION CERTIFICATE4 .86/.21 1.18/.24 1 Start of construction or substantial improvement on or before 12/31/74, or before the effective date of the initial Flood Insurance Rate Map (FIRM). If FIRM Zone is unknown, use rates for Zones A, AE, AO, AH, D. 2 Zones AO, AH BUILDINGS WITH BASEMENT/ENCLOSURE/CRAWLSPACE/SUBGRADE CRAWLSPACE: Submit for Rating. 3 “With Certification of Compliance” rates are to be used when the Elevation Certificate shows that the lowest floor elevation is equal to or greater than the community’s elevation requirement. 4 “Without Certification of Compliance” rates are to be used only on Post-FIRM structures without an Elevation Certificate or when the Elevation Certificate shows that the lowest floor elevation of a Post-FIRM structure is less than the community’s elevation requirement. ***SUBMIT FOR RATING CONDO 14 May 1, 2010 TABLE 4B. RCBAP LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) REGULAR PROGRAM -- POST-FIRM CONSTRUCTION FIRM ZONES A1-A30, AE -- BUILDING RATES BUILDING TYPE ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE1 +4 +3 +2 +1 0 -1 2 -2 ONE FLOOR NO BASEMENT/ENCLOSURE/ CRAWLSPACE3 .18/.08 .18/.08 .27/.08 .49/.08 1.08/.09 2.88/.84 MORE THAN ONE FLOOR NO BASEMENT/ENCLOSURE CRAWLSPACE3 .18/.08 .18/.08 .18/.08 .28/.08 .71/.09 2.15/.77 MORE THAN ONE FLOOR WITH BASEMENT/ENCLOSURE/ CRAWLSPACE3 .18/.08 .18/.08 .18/.08 .23/.08 .55/.09 1.25/.52 *** *** *** FIRM ZONES A1-A30, AE -- CONTENTS RATES CONTENTS LOCATION ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE1 +4 +3 +2 +1 0 2 -1 -2 LOWEST FLOOR ONLY ABOVE GROUND LEVEL (NO BASEMENT/ ENCLOSURE/CRAWLSPACE3) .38/.12 .38/.12 .38/.12 .52/.12 1.24/.12 3.74/.75 *** LOWEST FLOOR ABOVE GROUND LEVEL AND HIGHER FLOORS (NO BASEMENT/ ENCLOSURE/CRAWLSPACE3) .38/.12 .38/.12 .38/.12 .38/.12 .69/.12 2.11/.58 *** BASEMENT/ENCLOSURE/ CRAWLSPACE3 AND ABOVE ABOVE GROUND LEVELMORE THAN ONE FULL FLOOR .38/.12 .38/.12 .38/.12 .38/.12 .41/.12 .60/.14 *** .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 1 If LF is -1 because of attached garage, submit application for special consideration; rate may be lower. Use Submit-for-Rate guidelines if either the enclosure below the lowest floor of an elevated building or the crawlspace (under-floor space) that has its interior floor within 2 feet below grade on all sides, which is used for rating, is 1 or more feet below BFE. 3 Includes subgrade crawlspace. ***SUBMIT FOR RATING. 2 CONDO 15 October 1, 2009 TABLE 4C. RCBAP LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) UNNUMBERED ZONE A - WITHOUT BASEMENT/ENCLOSURE/CRAWLSPACE1,6 ELEVATION DIFFERENCE TO NEAREST FOOT +5 OR MORE +2 TO +4 +1 0 OR BELOW +2 OR MORE 0 TO +1 -1 -2 OR BELOW NO ELEVATION CERTIFICATE5 BUILDING .32/.11 .89/.13 1.84/.66 *** .31/.08 .70/.11 2.63/.83 *** 3.34/1.44 2 CONTENTS .61/.12 .86/.17 1.52/.56 *** .50/.12 .84/.16 2.44/.73 *** 3.33/.99 TYPE OF ELEVATION CERTIFICATE NO ESTIMATED BASE FLOOD ELEVATION3 WITH ESTIMATED BASE FLOOD ELEVATION4 NO ELEVATION CERTIFICATE 1 Zone A building with basement/enclosure/crawlspace/subgrade crawlspace – Submit for Rating. For elevation rated policies, when contents are located one floor or more above lowest floor used for rating, use .35/.12. 3 NO ESTIMATED BASE FLOOD ELEVATION: Elevation difference is the measured distance between the lowest floor of the building and the highest adjacent grade next to the building. 4 WITH ESTIMATED BASE FLOOD ELEVATION: Elevation difference is the measured distance between the lowest floor of the building and the estimated BFE provided by the community or registered professional engineer, surveyor, or architect. 5 For building without basement, enclosure, crawlspace or subgrade crawlspace, Elevation Certificate is optional. 6 Pre-FIRM buildings with basement/enclosure/crawlspace/subgrade crawlspace may use this table if the rates are more favorable to the insured. 2 ***SUBMIT FOR RATING. CONDO 16 October 1, 2009 TABLE 4D. RCBAP LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) AR AND AR DUAL ZONES REGULAR PROGRAM – PRE-FIRM1,2 AND POST-FIRM3 NOT ELEVATION-RATED RATES BUILDING TYPE BUILDING CONTENTS NO BASEMENT/ENCLOSURE .74/.21 1.20/.37 WITH BASEMENT .81/.30 1.36/.46 WITH ENCLOSURE .81/.34 1.36/.54 ELEVATED ON CRAWLSPACE .74/.21 1.20/.37 NON-ELEVATED WITH SUBGRADE CRAWLSPACE .74/.21 1.20/.37 REGULAR PROGRAM –– PRE-FIRM AND POST-FIRM ELEVATION-RATED RATES BUILDING RATES ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE +4 +3 +2 +1 0 -1 ONE FLOOR NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 .18/.08 .18/.08 .27/.08 .49/.08 .74/.21 BUILDING TYPE MORE THAN ONE FLOOR NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 .18/.08 .18/.08 .18/.08 .28/.08 .71/.09 4 MORE THAN ONE FLOOR WITH BASEMENT/ENCLOSURE/ CRAWLSPACE5 .18/.08 .18/.08 .18/.08 .23/.08 .55/.09 See Footnote CONTENTS RATES ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE +4 +3 +2 +1 0 -1 4 LOWEST FLOOR ONLY ABOVE GROUND LEVEL (NO BASEMENT/ ENCLOSURE/CRAWLSPACE5) .38/.12 .38/.12 .38/.12 .52/.12 1.24/.12 CONTENTS LOCATION LOWEST FLOOR ABOVE GROUND LEVEL AND HIGHER FLOORS BASEMENT/ENCLOSURE/ (NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 CRAWLSPACE5) AND ABOVE .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .38/.12 .69/.12 .41/.12 ABOVE GROUND LEVELMORE THAN ONE FULL FLOOR .35/.12 .35/.12 .35/.12 .35/.12 .35/.12 See Footnote 1 Start of construction or substantial improvement on or before 12/31/74, or before the effective date of the initial Flood Insurance Rate Map (FIRM). 2 Base deductible is $2,000. 3 Base deductible is $1,000. 4 Use Pre-FIRM Not Elevation-Rated AR and AR Dual Zones Rate Table above. 5 Includes subgrade crawlspace. CONDO 17 October 1, 2009 TABLE 4E. RCBAP LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE (Basic/Additional) REGULAR PROGRAM – 1975-19811 POST-FIRM CONSTRUCTION2 FIRM ZONES V1-V30, VE – BUILDING RATES ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE ONE FLOOR NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 BUILDING TYPE MORE THAN ONE FLOOR NO BASEMENT/ENCLOSURE/ CRAWLSPACE5 MORE THAN ONE FLOOR WITH BASEMENT/ENCLOSURE/ CRAWLSPACE5 2.47/.46 5.42/2.83 *** 1.98/.46 4.96/2.83 *** 1.71/.46 3.54/2.57 *** 03 -14 -2 REGULAR PROGRAM – 1975-19811 POST-FIRM CONSTRUCTION FIRM ZONES V1-V30, VE – CONTENTS RATES ELEVATION OF LOWEST FLOOR ABOVE OR BELOW BFE LOWEST FLOOR ONLY ABOVE GROUND LEVEL (NO BASEMENT/ENCLOSURE/ CRAWLSPACE5) 03 -14 -2 4.09/.57 9.01/4.37 *** CONTENTS LOCATION LOWEST FLOOR ABOVE GROUND BASEMENT/ENCLOSURE/ LEVEL AND HIGHER FLOORS (NO CRAWLSPACE5 BASEMENT/ENCLOSURE/ CRAWLSPACE5) AND ABOVE 2.68/.63 5.32/3.37 *** ABOVE GROUND LEVEL - MORE THAN ONE FULL FLOOR 1.50/.70 1.77/.70 *** .56/.26 .56/.26 .56/.26 1 Policies for 1975 through 1981 Post-FIRM and Pre-FIRM buildings in Zones VE and V1-V30 will be allowed to use the Post- ’81 V Zone rate table if the rates are more favorable to the insured. See instructions on page RATE 23 for V Zone Optional Rating. 2 For 1981 Post-FIRM construction rating, refer to pages CONDO 19 and 20. 3 These rates are to be used if the lowest floor of the building is at or above the BFE. 4 Use Submit-for-Rate guidelines if the enclosure below the lowest floor of an elevated building, which is used for rating, is 1 or more feet below BFE. 5 Includes subgrade crawlspace. ***SUBMIT FOR RATING. REGULAR PROGRAM – 1975-1981 POST-FIRM CONSTRUCTION UNNUMBERED V ZONE – ELEVATED BUILDINGS SUBMIT FOR RATING CONDO 18 May 1, 2010 TABLE 5A. RCBAP HIGH-RISE AND LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE 1981 POST-FIRM V1-V30, VE ZONE RATES1 Elevated Buildings Free of Obstruction2 Below the Beam Supporting the Building’s Lowest Floor Elevation of the bottom of the floor beam of the lowest floor above or below Base Flood Elevation adjusted for wave height at building 3 site Building Rate +4 or more .65 .53 +3 .79 .54 +2 1.03 .73 +1 1.58 1.25 0 2.02 1.87 -1 2.68 2.59 -2 3.52 3.53 -3 4.54 4.78 *** *** - 4 or lower Contents Rate Rates above are only for elevated buildings. Use Specific Rating Guidelines for non-elevated buildings. 1 2 3 Policies for 1975 through 1981 Post-FIRM and Pre-FIRM buildings in Zones VE and V1-V30 will be allowed to use the Post-’81 V Zone rate table if the rates are more favorable to the insured. See instructions on page RATE 23 for V Zone Optional Rating. Free of Obstruction The space below the lowest elevated floor must be completely free of obstructions or any attachment to the building, or may have: (1) Insect screening, provided that no additional supports are required for the screening; or (2) Wooden or plastic lattice with at least 40 percent of its area open and made of material no thicker than ½ inch; or (3) Wooden or plastic slats or shutters with at least 40 percent of their area open and made of material no thicker than 1 inch. Any of these systems must be designed and installed to collapse under stress without jeopardizing the structural support of the building, so that the impact on the building of abnormally high tides or wind-driven water is minimized. Any machinery or equipment below the lowest elevated floor must be at or above the BFE. See page RATE 20 for more details. Wave height adjustment is not required in those cases where the Flood Insurance Rate Map indicates that the map includes wave height. — ***SUBMIT FOR RATING CONDO 19 May 1, 2010 TABLE 5B. RCBAP HIGH-RISE AND LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE 1981 POST-FIRM V1-V30, VE ZONE RATES1,2 Elevated Buildings With Obstruction3 Below the Beam Supporting the Building’s Lowest Floor Elevation of the bottom of the floor beam of the lowest floor above or below Base Flood Elevation adjusted for wave height at building 4 site Building Rate Contents Rate +4 or more 1.16 .67 +3 1.29 .68 +2 1.53 .86 +1 2.06 1.38 0 2.51 2.00 5 3.11 2.72 5 3.95 3.66 4.97 4.91 *** *** -1 -2 5 -3 - 4 or lower 5 1 Policies for 1975 through 1981 Post-FIRM and Pre-FIRM buildings in Zones VE and V1-V30 will be allowed to use the Post-’81 V Zone rate table if the rates are more favorable to the insured. See instructions on page RATE 23 for V Zone Optional Rating. 2 Rates provided are only for elevated buildings, except those elevated on solid perimeter foundation walls. For buildings elevated on solid perimeter foundation walls, and for non-elevated buildings, use the Specific Rating Guidelines document. 3 With Obstruction—The space below has an area of less than 300 square feet with breakaway solid walls or contains equipment below the BFE. If the space below has an area of 300 square feet or more, or if any portion of the space below the elevated floor is enclosed with non-breakaway walls, submit for rating. If the enclosure is at or above the BFE, use the “Free of Obstruction” rate table on the preceding page. The elevation of the bottom enclosure floor is the lowest floor for rating (LFE). See page RATE 20 for details. 4 Wave height adjustment is not required in those cases where the Flood Insurance Rate Map indicates that the map includes wave height. 5 For buildings with obstruction, use Submit-for-Rate guidelines if the enclosure below the lowest elevated floor of an elevated, which is used for rating, is 1 or more feet below BFE. ***SUBMIT FOR RATING. TABLE 5C. RCBAP HIGH-RISE AND LOW-RISE BUILDING RATES (Including Townhouse/Rowhouse) ANNUAL RATES PER $100 OF COVERAGE 1981 POST-FIRM V ZONE RATES SUBMIT FOR RATING CONDO 20 May 1, 2010 TABLE 6. RCBAP HIGH-RISE AND LOW-RISE CONDOMINIUM RATES (Including Townhouse/Rowhouse) INCREASED COST OF COMPLIANCE (ICC) COVERAGE All Except Submit for Rate Policies1 Premiums for $30,000 ICC Coverage FIRM2 Post-FIRM Pre-FIRM 1 2 ZONE A, AE, A1-A30, AO, AH AR, AR DUAL ZONES Post-’81 V1-V30, VE ‘75-’81 V1-V30, VE A99, B, C, X, D A, AE, A1-A30, AO, AH AR, AR DUAL ZONES V, VE, V1-V30 A99, B, C, X, D PREMIUM $ 6 $ 6 $ 20 $ 35 $ 6 $ 75 $ 6 $ 75 $ 6 Use the ICC premium table contained in the Specific Rating Guidelines. Elevation-rated Pre-FIRM buildings should use Post-FIRM ICC premiums. CONDO 21 May 1, 2008 TABLE 7. RCBAP DEDUCTIBLE FACTORS – ALL ZONES Category One – Low-Rise Condominium Building-and-Contents Policies DEDUCTIBLE FACTOR DEDUCTIBLE OPTIONS Building/Contents $1,000/$1,000 $2,000/$2,000 $3,000/$3,000 $4,000/$4,000 $5,000/$5,000 $10,000/$10,000 $25,000/$25,000 Single Family Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.100 .925 1.000 .850 .925 .775 .850 .750 .810 .635 .675 .535 .570 2-4 Units Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.050 .960 1.000 .930 .965 .900 .930 .880 .910 .735 .765 .635 .665 5 or More Units Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.050 .975 1.000 .950 .975 .925 .950 .915 .930 .840 .860 .740 .760 Category Two – Low-Rise Condominium Building-Only Policies DEDUCTIBLE OPTIONS $1,000 $2,000 $3,000 $4,000 $5,000 $10,000 $25,000 DEDUCTIBLE FACTOR Single Family Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.100 .925 1.000 .865 .935 .815 .880 .765 .830 .630 .685 .530 .580 2-4 Units Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.075 .950 1.000 .910 .960 .870 .920 .835 .880 .650 .690 .550 .585 5 or More Units Post-FIRM Pre-FIRM $1,000 Ded. $2,000 Ded. 1.000 1.050 .970 1.000 .940 .970 .920 .950 .900 .930 .830 .860 .730 .760 Category Three – High-Rise Condominium Policies, Building-and-Contents and Building-Only The deductible factors are multipliers, and total deductible amounts are subject to a maximum dollar discount per annual premium. BUILDING-ONLY BUILDING/CONTENTS DEDUCTIBLE OPTIONS $1,000/$1,000 $2,000/$2,000 $3,000/$3,000 $4,000/$4,000 $5,000/$5,000 $10,000/$10,000 $25,000/$25,000 DEDUCTIBLE FACTOR PostPreFIRM FIRM $1,000 $2,000 Deductible Deductible 1.000 1.050 .980 1.000 .960 .980 .940 .960 .920 .940 .840 .860 .740 .760 MAXIMUM DISCOUNT N/A $ 56 $ 111 $ 166 $ 221 $ 476 $1,001 CONDO 22 DEDUCTIBLE OPTIONS $1,000 $2,000 $3,000 $4,000 $5,000 $10,000 $25,000 DEDUCTIBLE FACTOR PostPreFIRM FIRM $1,000 $2,000 Deductible Deductible 1.000 1.050 .970 1.000 .940 .970 .920 .950 .900 .930 .830 .860 .730 .760 MAXIMUM DISCOUNT October 1, 2009 N/A $ 55 $ 110 $ 165 $ 220 $ 475 $1,000 X. CONDOMINIUM RATING EXAMPLES TABLE OF CONTENTS EXAMPLE PAGE Example 1 Pre-FIRM, Low-rise, with Enclosure, Coinsurance Penalty, Zone A ................ CONDO 24 Example 2 Pre-FIRM, Low-rise, No Basement/Enclosure, Zone AE ................................. CONDO 25 Example 3 Post-FIRM, Low-rise, Coinsurance Penalty, Zone AE ..................................... CONDO 26 Example 4 Post-FIRM, Low-rise, Standard Deductible, Zone AE ...................................... CONDO 27 Example 5 Pre-FIRM, High-rise, Standard Deductible, Coinsurance Penalty, Zone A ...... CONDO 28 Example 6 Pre-FIRM, High-rise, Basement, Maximum Discount, Zone AE ....................... CONDO 29 Example 7 Post-FIRM, High-rise, Standard Deductible, Zone AE ..................................... CONDO 30 Example 8 Pre-FIRM, High-rise, Enclosure, Maximum Discount, Coinsurance Penalty, Zone AE .............................................................................................. CONDO 31 CONDO 23 October 1, 2009 CONDOMINIUM RATING EXAMPLE 1 Pre-FIRM, Low-rise, with Enclosure, Coinsurance Penalty, Zone A • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .75/.79 $140,000 $100,000 Low-rise A Other Residential 6 Pre-FIRM 3 Floors Including Enclosure $2,000/$2,000 1.000 $600,000 N/A $480,000 $75 ($30,000 Coverage) N/A N/A Contents: .96/.89 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS DEDUCTIBLE TOTAL PREMIUM AMOUNT OF INSURANCE RATE ANNUAL PREMIUM 140,000 .75 1,050 0 .79 0 140,000 1,050 25,000 .96 240 75,000 .89 668 100,000 908 RATE TYPE: (ONE BUILDING PER POLICYBLANKET COVERAGE NOT PERMITTED) MANUAL ALTERNATIVE PROVISIONAL RATING SUBMIT FOR RATING PAYMENT OPTION: V-ZONE RISK RATING FORM LEASED FEDERAL PROPERTY PREM. REDUCTION/ INCREASE BASIC AND ADDITIONAL TOTAL AMOUNT OF INSURANCE ANNUAL SUBTOTAL 1,958 ICC PREMIUM 75 2,033 CREDIT CARD SUBTOTAL OTHER: CRS PREMIUM DISCOUNT SUBTOTAL MORTGAGE PORTFOLIO PROTECTION PROGRAM THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLEDGE. I UNDERSTAND THAT ANY FALSE STATEMENTS MAY BE PUNISHABLE BY FINE OR IMPRISONMENT UNDER APPLICABLE FEDERAL LAW. PROBATION SURCHARGE SIGNATURE OF INSURANCE AGENT/BROKER TOTAL PREPAID AMOUNT DATE(MM/DD/YY) Premium Calculation: 1. Multiply Rate x $100 of Coverage: 2. Apply Deductible Factor: 3. Premium Reduction: 4. Subtotal: 5. Add ICC Premium: 6. Subtract CRS Discount: 7. Subtotal: 8. Probation Surcharge: 9. Add Federal Policy Fee: 10. Total Prepaid Amount: %  2,033  200 FEDERAL POLICY FEE 2,233 Building: $1,050 / Contents: $908 Building: 1.000 x $1,050 = $1,050 / Contents: 1.000 x $908 = $908 Building: $0 / Contents: 0 1,958 $75 N/A 2,033 N/A $200 $2,233 CLAIMS ADJUSTMENT WITH COINSURANCE PROVISION Claim Payment is determined as follows: (Insurance Carried) (Insurance Required) 140,000 x 480,000 (Amount of Loss) 100,000 = (Limit of Recovery) 29,167 - Less Deductible (Coinsurance Penalty applies because minimum insurance amount of $480,000 was not met.) CONDO 24 May 1, 2010 CONDOMINIUM RATING EXAMPLE 2 PRE-FIRM, LOW-RISE, NO BASEMENT/ENCLOSURE, ZONE AE • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .70/.54 $480,000 $50, 000 Low-rise AE Other Residential 6 Pre-FIRM 1 Floor, No Basement $2,000/$2,000 1.000 $600,000 N/A $480,000 $75 ($30,000 Coverage) N/A N/A Contents: .96/1.03 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS DEDUCTIBLE TOTAL PREMIUM AMOUNT OF INSURANCE RATE ANNUAL PREMIUM 360,000 .70 2,520 120,000 .54 648 480,000 3,168 25,000 .96 240 25,000 1.03 258 50,000 498 RATE TYPE: (ONE BUILDING PER POLICYBLANKET COVERAGE NOT PERMITTED) MANUAL ALTERNATIVE PROVISIONAL RATING SUBMIT FOR RATING V-ZONE RISK RATING FORM LEASED FEDERAL PROPERTY PAYMENT OPTION: CREDIT CARD OTHER: PREM. REDUCTION/ INCREASE BASIC AND ADDITIONAL TOTAL AMOUNT OF INSURANCE ANNUAL SUBTOTAL 3,666 ICC PREMIUM 75 3,741 SUBTOTAL CRS PREMIUM DISCOUNT THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLEDGE. I UNDERSTAND THAT ANY FALSE STATEMENTS MAY BE PUNISHABLE BY FINE OR IMPRISONMENT UNDER APPLICABLE FEDERAL LAW. PROBATION SURCHARGE SIGNATURE OF INSURANCE AGENT/BROKER TOTAL PREPAID AMOUNT Premium Calculation: 1. Multiply Rate x $100 of Coverage: 2. Apply Deductible Factor: 3. Premium Reduction: 4. Subtotal: 5. Add ICC Premium: 6. Subtract CRS Discount: 7. Subtotal: 8. Probation Surcharge: 9. Add Federal Policy Fee: 10. Total Prepaid Amount: % SUBTOTAL MORTGAGE PORTFOLIO PROTECTION PROGRAM DATE (MM/DD/YY)  3,741  200 FEDERAL POLICY FEE 3,941 Building: $3,168 / Contents: $540 Building: 1.00 x $3,168 = $3,168 / Contents: 1.00 x $540 = $540 Building: $0 / Contents: $0 $3,666 $75 N/A $3,741 N/A $200 $3,941 CLAIMS ADJUSTMENT WITH COINSURANCE PROVISION Coinsurance Penalty does not apply since minimum insurance amount of 80% was met. CONDO 25 May 1, 2010 CONDOMINIUM RATING EXAMPLE 3 POST-FIRM, LOW-RISE, COINSURANCE PENALTY, ZONE AE • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .28/.08 $750,000 $100,000 Low-rise AE Other Residential 14 Post-FIRM 2 Floors, No Basement/Enclosure $1,000/$1,000 1.000 $1,120,000 +1 $896,000 $6 ($30,000 Coverage) N/A N/A Contents: .38/.12 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS AMOUNT OF INSURANCE RATE ANNUAL PREMIUM 750,000 .28 2,100 0 .08 0 25,000 .38 95 75,000 .12 90 PREM. REDUCTION/ INCREASE BASIC AND ADDITIONAL TOTAL AMOUNT OF INSURANCE 0 750,000 0 100,000 DEDUCTIBLE TOTAL PREMIUM 2,100 185 SUBTOTAL 2,285 6 2,291  2,291 THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLEDGE. I UNDERSTAND THAT ANY FALSE STATEMENTS MAY BE PUNISHABLE BY FINE OR IMPRISONMENT UNDER APPLICABLE FEDERAL LAW. PROBATION SURCHARGE  SIGNATURE OF INSURANCE AGENT/BROKER TOTAL PREPAID AMOUNT RATE TYPE: (ONE BUILDING PER POLICYBLANKET COVERAGE NOT PERMITTED) MANUAL ALTERNATIVE PROVISIONAL RATING SUBMIT FOR RATING V-ZONE RISK RATING FORM LEASED FEDERAL PROPERTY PAYMENT OPTION: CREDIT CARD OTHER: MORTGAGE PORTFOLIO PROTECTION PROGRAM Premium Calculation: 1. Multiply Rate x $100 of Coverage: 2. Apply Deductible Factor: 3. Premium Reduction/Increase: 4. Subtotal: 5. Add ICC Premium: 6. Subtract CRS Discount: 7. Subtotal: 8. Probation Surcharge: 9. Add Federal Policy Fee: 10. Total Prepaid Amount: DATE (MM/DD/YY) ANNUAL SUBTOTAL ICC PREMIUM SUBTOTAL CRS PREMIUM DISCOUNT % 440 FEDERAL POLICY FEE 2,731 Building: $2,100 / Contents: $185 Building: 1.000 x $2,100 = $2,100 / Contents: 1.000 x $185 = $185 Building: $0 / Contents: $0 $2,285 $6 N/A $2,291 N/A $440 $2,731 CLAIMS ADJUSTMENT WITH COINSURANCE PROVISION Claim Payment is determined as follows: (Insurance Carried) (Insurance Required) 750,000 x (Amount of Loss) 300,000 = (Limit of Recovery) 251,116 - Less Deductible 896,000 (Coinsurance Penalty applies because minimum insurance amount of $896,000 was not met.) CONDO 26 May 1, 2010 CONDOMINIUM RATING EXAMPLE 4 POST-FIRM, LOW-RISE, STANDARD DEDUCTIBLE, ZONE AE • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .18/.08 $600,000 $15,000 Low-rise AE Other Residential 6 Post-FIRM 3 Floors, Townhouse, No Basement/Enclosure $1,000/$1,000 1.000 $600,000 +2 $480,000 $6 ($30,000 Coverage) N/A N/A Contents: .38/.12 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS DEDUCTIBLE TOTAL PREMIUM AMOUNT OF INSURANCE RATE ANNUAL PREMIUM 360,000 .18 648 240,000 .08 192 0 600,000 840 15,000 .38 57 0 .12 0 0 15,000 57 RATE TYPE: (ONE BUILDING PER POLICYBLANKET COVERAGE NOT PERMITTED) MANUAL ALTERNATIVE PROVISIONAL RATING SUBMIT FOR RATING V-ZONE RISK RATING FORM LEASED FEDERAL PROPERTY PAYMENT OPTION: CREDIT CARD OTHER: PREM. REDUCTION/ INCREASE BASIC AND ADDITIONAL TOTAL AMOUNT OF INSURANCE ANNUAL SUBTOTAL 897 ICC PREMIUM 6 903 SUBTOTAL CRS PREMIUM DISCOUNT THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLEDGE. I UNDERSTAND THAT ANY FALSE STATEMENTS MAY BE PUNISHABLE BY FINE OR IMPRISONMENT UNDER APPLICABLE FEDERAL LAW. PROBATION SURCHARGE SIGNATURE OF INSURANCE AGENT/BROKER TOTAL PREPAID AMOUNT Premium Calculation: 1. Multiply Rate x $100 of Coverage: 2. Apply Deductible Factor: 3. Premium Reduction/Increase: 4. Subtotal: 5. Add ICC Premium: 6. Subtract CRS Discount: 7. Subtotal: 8. Probation Surcharge: 9. Add Federal Policy Fee: 10. Total Prepaid Amount: % SUBTOTAL MORTGAGE PORTFOLIO PROTECTION PROGRAM DATE (MM/DD/YY)  903  200 FEDERAL POLICY FEE 1,103 Building: $840 / Contents: $57 Building: 1.000 x $840 = $840 / Contents: 1.000 x $57 = $57 Building: $0 / Contents: $0 $897 $6 N/A $903 N/A $200 $1,103 CLAIMS ADJUSTMENT WITH COINSURANCE PROVISION Coinsurance Penalty does not apply since the minimum insurance amount of 80% was met. CONDO 27 May 1, 2010 CONDOMINIUM RATING EXAMPLE 5 PRE-FIRM, HIGH-RISE, STANDARD DEDUCTIBLE, COINSURANCE PENALTY, ZONE A • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .85/.21 $1,110,000 $100,000 High-rise A Other Residential 50 Pre-FIRM 3 or More Floors, No Basement/Enclosure $2,000/$2,000 1.000 $1,500,000 N/A $1,200,000 $75 ($30,000 Coverage) 5 25% Contents: .96/.71 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS DEDUCTIBLE RATE ANNUAL PREMIUM 175,000 .85 1,488 935,000 .21 1,964 0 1,110,000 25,000 .96 240 75,000 .71 533 0 100,000 RATE TYPE: (ONE BUILDING PER POLICYBLANKET COVERAGE NOT PERMITTED) MANUAL SUBMIT FOR RATING ALTERNATIVE V-ZONE RISK RATING FORM PROVISIONAL RATING LEASED FEDERAL PROPERTY PAYMENT OPTION: PREM. REDUCTION/ INCREASE BASIC AND ADDITIONAL TOTAL AMOUNT OF INSURANCE AMOUNT OF INSURANCE ICC PREMIUM SUBTOTAL OTHER: CRS PREMIUM DISCOUNT SUBTOTAL MORTGAGE PORTFOLIO PROTECTION PROGRAM THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLEDGE. I UNDERSTAND THAT ANY FALSE STATEMENTS MAY BE PUNISHABLE BY FINE OR IMPRISONMENT UNDER APPLICABLE FEDERAL LAW. PROBATION SURCHARGE SIGNATURE OF INSURANCE AGENT/BROKER TOTAL PREPAID AMOUNT Premium Calculation: 1. Multiply Rate x $100 of Coverage: 2. Apply Deductible Factor: 3. Premium Reduction/Increase: 4. Subtotal: 5. Add ICC Premium: 6. Subtract CRS Discount: 7. Subtotal: 8. Probation Surcharge: 9. Add Federal Policy Fee: 10. Total Prepaid Amount: DATE (MM/DD/YY) FEDERAL POLICY FEE 3,452 773 4,225 ANNUAL SUBTOTAL CREDIT CARD TOTAL PREMIUM 25% 75 4,300 -1,075 3,225  840 4,065 Building: $3,452 / Contents: $773 Building: 1.000 x $3,452 = $3,452 / Contents: 1.000 x $773 = $773 Building: $0 / Contents: $0 $4,225 $75 - $1,075 (25%) $3,225 N/A $840 $4,065 CLAIMS ADJUSTMENT WITH COINSURANCE PROVISION Claim Payment is determined as follows: (Insurance Carried) 1,110,000 x (Amount of Loss) 200,000 = (Limit of Recovery) 185,000 - Less Deductible (Insurance Required) 1,200,000 (Coinsurance Penalty applies because minimum insurance amount of $1,200,000 was not met.) CONDO 28 May 1, 2010 CONDOMINIUM RATING EXAMPLE 6 PRE-FIRM, HIGH-RISE, BASEMENT, MAXIMUM DISCOUNT, ZONE AE • • • • • • • • • • • • • • • • Regular Program Building Coverage: Contents Coverage: Condominium Type: Flood Zone: Occupancy: # of Units: Date of Construction: Building Type: Deductible: Deductible Factor: Replacement Cost: Elevation Difference: 80% Coinsurance Amount: ICC Premium: CRS Rating: CRS Discount: Determined Rates: Building: .90/.28 $3,000,000 $100,000 High-rise AE Other Residential 50 Pre-FIRM 3 or More Floors, including Basement $5,000/$5,000 .940 (Maximum Total Discount of $221 applies) $3,750,000 N/A $3,000,000 $75 ($30,000 Coverage) 8 10% Contents: .96/.86 ADDITIONAL LIMITS (REGULAR PROGRAM ONLY) AMOUNT OF ANNUAL RATE INSURANCE PREMIUM BASIC LIMITS COVERAGE BUILDING CONTENTS DEDUCTIBLE RATE ANNUAL PREMIUM 175,000 .90 1,575 2,825,000 .28 7,910 -221 3,000,000 9,264 25,000 .96 240 75,000 .86 645 0 100,000 885 MANUAL ALTERNATIVE PROVISIONAL RATING SUBMIT FOR RATING V-ZONE RISK RATING FORM LEASED FEDERAL PROPERTY PAYMENT OPTION: SUBTOTAL CRS PREMIUM DISCOUNT SUBTOTAL THE ABOVE STATEMENTS ARE CORRECT TO THE BEST OF MY KNOWLED