Flood Insurance

Most homeowners insurance policies don't cover flood damage. So, you may need a separate flood insurance policy to protect against losses from flooding.

The Preferred Risk Policy is designed for homewoners in low to moderate flood hazard areas who ackowledge the need for flood coverage, and want to help protect their home and contents in the event of a flood. In order to qualify for a Preferred Risk Policy, you must meet certain conditions including:

You own a one- to four-family dwelling;
You're located in a low to moderate flood hazard area; and
There has been no more than one paid flood claim over $1,000 since the date of construction.

5 Reasons Flood Protection can't wait:

1. Every home is at risk, with floods and flash floods recorded in all 50 states regardless of terrain or climate.

2. Almost 25 percent of all flood insurance claims come from areas designated as "minimal flood risk."

3. Flood damage is not covered under most homewoners insurance policies.

4. Federal disaster assistance often comes in the form of a loan with interest, and it's only available if the President formally declares a disaster.

5. Even after flood insurance is purchsed, there may be a 30-day waiting period before coverage begins.