If you are a tenant, it is wise to insure your contents. The policy premium is based on several factors including the flood risk of the building that you occupy.

Moderate-to-Low Risk
Most renters in moderate-to-low risk areas are eligible for coverage at a preferred rate. Preferred Risk Policy premiums are the lowest premiums available through the NFIP, offering building and contents coverage for one low price. In fact, residential premiums start as low as $39 per year for Contents Only coverage.

If you don’t qualify for a Preferred Risk Policy, a standard rated policy is still available. Even though flood insurance isn’t federally required, nearly 25% of all NFIP flood claims occur in moderate-to-low risk areas.

High-Risk
If you live in a high-risk area, a standard rated policy is the only option for you. It offers separate building and contents coverage.

Flood insurance premiums are calculated based on factors such as:

• Year of building construction
• Building occupancy
• Number of floors
• The location of its contents
• Its flood risk (i.e. its flood zone)
• The location of the lowest floor in relation to the elevation requirement on the flood map (in newer buildings only)
• The deductible you choose and the amount of coverage

Learn your risk, estimate your premium and find an agent, by taking Your Risk Profile.