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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.

In moderate- to low-risk areas, residents and business owners of qualified buildings have a lower cost flood insurance option available in the form of the NFIP's Preferred Risk Policy (PRP). Even though flood insurance isn't federally required in these moderate- to low-risk areas, the risk of flooding is still very real. In fact, people outside of mapped high-risk flood areas file nearly 25 percent of all NFIP claims and receive one-third of all 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.


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: Monday, 18-May-2015, 4:28 PM (EDT)

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