Preferred Risk Policy

Flood maps are changing as the assessment of flood risks changes due to community development, aging flood control structures, natural changes to topography, and better technology. 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 the mandatory flood insurance purchase requirements that go along with map changes. 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 Preferred Risk Policy for up to 2 years after the latter of the 2 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 2 policy years effective between January 1, 2011 and December 31, 2012. So, policies issued as standard-rated policies or converted to standard-rated policies following a map change on or after October 1, 2008, could be converted to the lower-cost PRP for 2 years beginning on the first renewal effective on or after January 1, 2011. On the third year, they may then be eligible for additional savings through grandfathering.
  • Property owners of buildings that are newly mapped into a high-risk flood zone due to a map revision on or after January 1, 2011, are eligible to receive a lower-cost PRP for 2 policy years from the map revision date. 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.