In response to recent flooding in the UK, the government has put new laws into place that could affect your insurance and more. Find out what you need to know about these new rules in this blog article!
Overview of the new flood damage restoration regulations
The new flood damage restoration regulations went into effect on January 1, 2018. The regulations are designed to make it easier for businesses and homeowners to get flood damage repairs done and reimbursed.
Here are some key points to know about the new flood damage restoration regulations:
1. Businesses with less than $500,000 in annual gross revenue are not required to comply with the new flood damage restoration regulations.
2. Homeowners with less than $50,000 in annual gross household income are not required to comply with the new flood damage restoration regulations.
3. Homeowners who have received a federal disaster declaration relating to their home’s flooding are exempt from the new flood damage restoration regulations.
4. Homeowners who have completed a state-approved flood insurance program are exempt from the new flood damage restoration regulations.
5. Businesses and homeowners can still be fined for not complying with the new flood damage restoration regulations, but there is a lot less paperwork involved.
If you or your business is affected by flooding and needs help recovering from the disaster,contact our team today at (844) 439-7441
How this will affect businesses
The new flood damage restoration regulations will have a major impact on businesses in the industry. The main changes are as follows:
-All businesses must be registered with the Federal Emergency Management Agency (FEMA).
-Businesses must have insurance that covers flood damage.
-Businesses must have a written disaster recovery plan.
-Businesses must have an incident response plan.
-Businesses must have an evacuation plan.
Recommendations for those affected by the regulations
If you have been affected by the new flood damage restoration regulations, there are some recommendations that you should follow. First and foremost, make sure that you have a contractor who is licensed and insured. Second, be sure to get estimates from multiple contractors so that you can get an idea of how much the work will cost. Finally, make sure to document everything that happens during the restoration process so that you have a record of what was done and where it was done.
