Preferred Risk Policy

Did You Know?


If you live in an area with low or moderate flood risk, you are 5 times more likely to experience flood than a fire in your home over the next 30 years. NFIP Preferred Risk Policy (PRP) offers lower-cost protection for homes and apartments in areas of low to moderate flood risk at an average cost of approximately $395 per year.

Additionally, flood maps are changing and the National Flood Insurance Program (NFIP) wants to ease the transition for property owners who have been newly mapped into a high-risk flood zone and are dealing with the mandatory flood insurance purchase requirements. If your property was newly mapped into a high-risk flood zone on or after October 1, 2008, you may be eligible for the lower-cost PRP for up to two years after the latter of the two following dates:
  • The effective date of the map revision
  • January 1, 2011

Eligibility


  • Property owners of buildings that have been newly mapped into high-risk flood zones (e.g., labeled with A, AE, AO, AH or V, or VE on the flood maps) due to a map revision on or after October 1, 2008, and before January 1, 2011, are eligible to receive a PRP for two policy years effective between January 1, 2011 and December 31, 2012. On the third year, they may then be eligible for additional savings through grandfathering.

What to Do


Talk to your agent. Previous and current flood zone documentation for your property will be needed to validate your PRP extension eligibility. Historic maps and current effective maps are available through FEMA's Map Service website. If you have questions or would like more information, you can call the NFIP Help Center at 1-800-427-4661 for assistance.

Resources


FEMA PRP Factsheet
FEMA PRP Premium Table
FEMA PRP Eligibility Extension FAQs
FEMA PRP Manual
Flood Hazard Mapping Updates