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Title: Optional Wind Damage Insurance
Vote Smart's Synopsis:
Vote to adopt an amendment that would add an optional multiperil program to the national insurance program that includes coverage of wind damage.
- Prohibits duplicate coverage of the same property by the flood insurance and multiperil insurance plans available under the national flood insurance program.
- Limits the amount of coverage to $500,000 per dwelling unit in residential properties, with up to an additional $150,000 for contents within the residential property and increased living expenses, and up to $1 million for nonresidential properties, including churches, plus up to $750,000 for contents within the nonresidential property and loss of business.
- Prevents mulitperil coverage from being offered to any property declared by a zoning authority or other authorized public body to be in violation of state or local regulations intended to reduce damage caused by windstorms.