Sec. 12. OPTIONAL HIGH-DEDUCTIBLE POLICIES FOR RESIDENTIAL PROPERTIES
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## SEC. 12 OPTIONAL HIGH-DEDUCTIBLE POLICIES FOR RESIDENTIAL PROPERTIES Section 1306 of the National Flood Insurance Act of 1968 (42 U.S.C. 4013) is amended by adding at the end the following new subsection: > > ### “(d) Optional High-Deductible Policies for Residential Properties > > > #### “(1) Availability > > In the case of residential properties, the Administrator shall make flood insurance coverage available, at the option of the insured, that provides for a loss-deductible for damage to the covered property in various amounts, up to and including $10,000. > > > #### “(2) Disclosure > > > ##### “(A) Form > > The Administrator shall provide the information described in subparagraph
(B)clearly and conspicuously on the application form for flood insurance coverage or on a separate form, segregated from all unrelated information and other required disclosures. > > > ##### “(B) Information > > The information described in this subparagraph is— > > > ###### “(i) > > information sufficient to inform the applicant of the availability of the coverage option required by paragraph
(1)to applicants for flood insurance coverage; and > > > ###### “(ii) > > a statement explaining the effect of a loss-deductible and that, in the event of an insured loss, the insured is responsible out-of-pocket for losses to the extent of the deductible selected.” > .
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Sec. 12
OPTIONAL HIGH-DEDUCTIBLE POLICIES FOR RESIDENTIAL PROPERTIES
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