Under the National Flood Insurance Program, replacement cost coverage is available for which of the following?

Replacement cost coverage under the National Flood Insurance Program (NFIP) is specifically available for single-family dwellings, provided that certain conditions are met. This coverage allows policyholders to receive compensation for the full value of their damaged property, up to the insured value, rather than just the actual cash value, which deducts depreciation.

To qualify for replacement cost coverage, the dwelling must be the principal residence of the owner and insured for at least 80% of its replacement cost. This is designed to encourage policyholders to maintain and rebuild their homes to their pre-loss condition.

While other types of properties, such as multi-family dwellings or commercial properties, may also be covered under the NFIP, they do not qualify for the same replacement cost provisions typically offered to single-family homes. Instead, these other property types would receive compensation based on actual cash value, which takes into account depreciation.

Thus, the distinction lies in how coverage is structured under the NFIP for various property types, with single-family dwellings enjoying the benefit of replacement cost coverage specifically tailored to support homeowners in recovering from flood losses.