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Lower Cost Options

The price of a flood insurance policy varies depending on a property's risk. In high flood risk areas, where coverage is often mandatory, policies cost more. However, most of the country falls within the moderate-to-low risk areas for flooding.

A Preferred Risk Policy provides both building and contents coverage for properties in moderate- to low-risk areas for one low-price. Even though flood insurance isn't federally required, anyone can be financially vulnerable to floods. In fact, people outside of mapped high-risk flood areas file over 20-percent of all National Flood Insurance Program flood insurance claims and receive one-third of Federal Disaster Assistance for flooding. When it's available, disaster assistance is typically a loan you must repay with interest.

The PRP covers a buildings and its contents. But a contents-only version is available to renters and business owners who lease their buildings.

Policies cover up to $250,000 for buildings and $100,000 for contents.

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.

How Can I get Covered?

  • Rate your risk
  • Estimate your premiums
  • Find an agent
 

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Last Updated: Tuesday, 21-Jul-2015, 2:00 PM (EDT)

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