Basement
Plain-English definition and practical context.
Definition: Basement | (None)
pronunciation: BASS-muhnt
In flood insurance, a basement is defined as any area of a building, including any sunken room or sunken portion of a room, having its floor below ground level on all sides.
This definition matters because under NFIP policies, coverage for certain items located in basements can be limited compared to items located above the building’s lowest floor.
Sources & Authority
Sources for Basement
Official eCFR version of the SFIP definition of “Basement” used for NFIP flood policies.