Final answer:
The maximum amount of coverage payable for a flood that destroys a single family residence can vary depending on the insurance policy and the coverage limits chosen by the homeowner. In general, flood insurance policies offered by the National Flood Insurance Program (NFIP) have a maximum coverage limit of $250,000 for the dwelling and $100,000 for personal property.
Step-by-step explanation:
The maximum amount of coverage payable for a flood that destroys a single family residence can vary depending on the insurance policy and the coverage limits chosen by the homeowner. In general, flood insurance policies offered by the National Flood Insurance Program (NFIP) have a maximum coverage limit of $250,000 for the dwelling and $100,000 for personal property.
It's important to note that flood insurance is typically purchased separately from standard homeowners insurance and is not automatically included in most policies. Homeowners in flood-prone areas or areas with a high risk of flooding are encouraged to obtain flood insurance to protect their property.
For example, if a flood destroys a single family residence covered by an NFIP policy, the maximum amount payable for the dwelling would be $250,000, and the maximum amount payable for personal property would be $100,000.