Frequently Asked Questions - Preferred Risk Flood

Q: If my home is flooded, won't federal disaster assistance pay for my damages?
A: No. Federal disaster assistance offers loans to help cover flood damage, not
  compensation for your losses

Q: Why do some properties qualify for preferred policies while others don't?
A: If your property is located in a Special Hazard Area (A or V), your mortgage lender
  requires you to have flood insurance, you are not eligible for the Preferred Risk Policy.

Q: When will the policy take effect?
A: It takes 30 days after the purchase for a preferred risk policy to take effect, so it is
  important to purchase before the floodwaters start to rise.

Q: Is the coverage guaranteed?
A: Yes, the National Flood Insurance Program is a FEMA sponsored program backed by
  the Congress and the Fereral Government.

Q: If I live in a low-risk area for flood, do I really need flood insurance?
A: Yes, it is a good idea to buy flood insurance even in low to moderate risk zones. Almost
  25 percent of all flood insurance claims occur in areas with minimal flood risk.

Q: What types of things are covered by a flood policy?
A: Flood debris cleanup, structural damage (walls, stairways, ceiling, floors), household
  applicances damaged by flood water (refrigerators, air conditioners, heatpumps, circuit
  breaker boxes, washers, dryers), wall to wall carpeting, and other floor surfaces.

Are You Eligible?

A Preferred Risk Flood Policy (PRP) is designed for homeowners and businesses located in Flood zones "B", "C", or "X".

Residential - "Home"
Building and Contents Deductible: $1,000

  Building Contents Premium
  $ 20,000 $ 8,000 $129
  $ 30,000 $ 12,000 $160
  $ 50,000 $ 20,000 $211
  $ 75,000 $ 30,000 $247
  $100,000 $ 40,000 $274
  $125,000 $ 50,000 $294
  $150,000 $ 60,000 $313
  $200,000 $ 80,000 $343
  $250,000 $100,000 $365

You are not eligible for this preferred risk policy
if your lender / Mortgage Company requires you to
carry Flood Insurance ("A" or "V" zones) or if you have
incurred two or more flood losses.

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