The amount of any claim paid for losses or costs under the insurance program may not include any amount for any portion of such losses or costs covered by amounts provided under any other source of insurance or financial assistance. (c) Effect of flood insurance coverage (1) Reduction of federal assistance If a facility or residence located in a special flood hazard area identified for more than 1 year by the Administrator pursuant to the National Flood Insurance Act of 1968 is damaged or destroyed by flooding in a disaster and such facility or residence is not covered on the date of such flooding by flood insurance, the amount of a claim for coverage under this subtitle which would otherwise be paid under the insurance program under this subtitle for costs of repair, restoration, reconstruction, and replacement of such facility or residence and associated expenses shall be reduced in accordance with paragraph (2). (2) Amount of reduction The amount of the reduction in a claim for a facility or residence pursuant to paragraph (1) shall be the lesser of— (A) the value of such facility or residence on the date of the flood damage or destruction