Flood insurance is not covered by your home insurance and over 20% of floods happen in low to moderate flood risk areas. Any property in a FEMA designated flood zone will be required to carry flood insurance by their lender or mortgage company.
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968. The program allows homeowner, business owners and renters to buy federally backed flood insurance.
This simple difference between the two policies are, preferred policies are only available to properties NOT located in the Special Flood Hazard Area (SFHA). The SFHA is what people commonly refer to as the flood zone. Preferred Risk policies offer special rates for the lower risk properties but cover the same perils.
Let us do the work for you! We will quote all the flood markets to find the best program for you and your property.