If you are a tenant, it is wise to insure your contents. The policy premium is based on several
factors, including the flood risk of the building that you occupy.
Flood insurance isn't federally required in moderate- to low-risk areas, but it's still a good idea.
In fact, people in these areas file more than 20 percent of all National Flood Insurance Program (NFIP) flood insurance claims.
Most condo owners and renters in moderate- to low-risk areas can obtain coverage at a reduced rate.
Preferred Risk Policy
premiums, the lowest premiums available through the NFIP, offer building and contents coverage for one low price.
If you don't qualify for a Preferred Risk Policy, a standard-rated policy is still available.
If you rent in a high-risk area, a standard-rated policy offers contents coverage.
Premiums are calculated based on factors such as:
- Year of building construction.
- Building occupancy.
- Number of floors.
- Location of its contents.
- Flood risk (e.g., its flood zone).
Location of the lowest floor in relation to the
Base Flood Elevation on the flood map.
- Deductible and amount of coverage.
Learn your flood risk and find agents in your area by completing your One-Step Flood Risk Profile on this page.
Or enter your ZIP code to find an agent.
PRIMARY RESIDENCE DISCLAIMER
For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date. If the building will be lived in for less than 80 percent of the policy year, it is considered to be a non-primary residence.