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Lower Cost Options

The price of a flood insurance policy ranges depending on where a property is located. 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, where the risk of flooding is still very real, customers have lower cost flood insurance options available in the form of the NFIP's Preferred Risk Policies (PRP). 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 nearly 25% 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.

Homes and businesses may qualify for the low-cost Preferred Risk Policy, with premiums starting as low as $129 for a home and its contents and $643 for a commercial building and its contents.* Many consumers don't know that the new PRP policies are also available to business owners and renters. Customers have the option to purchase building coverage, contents coverage, or both.

Building policies start at $20,000 and go up to $250,000. Contents coverage starts at $8,000 and goes up to $100,000.

*$129 residential annual premium provides $20,000 building and $8,000 contents coverage. $643 commercial annual premium provides $50,000 building and $50,000 contents coverage.


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, 03-Mar-2015, 3:30 PM (EST)

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