Residential Flood Coverage1,2,3$1000 Deductible
Note. Residential condominium associations are not eligible for the PRP. Individual residential condominium units in residential condominium buildings are eligible for the PRP. In addition, individual residential condominium unit owners in nonresidential condominium buildings are only eligible for contents coverage. The deductibles apply separately to building and contents. Building deductible, $1,000. Contents deductible, $1,000. To qualify for replacement cost claim settlement, a single-family dwelling must be the insured's principal residence and be insured to the maximum amount of insurance available under the program or no less than 80% of the replacement cost at the time of loss, whichever is less. Please refer to the Standard Flood Insurance Policy (SFIP) for further explanation and requirements.
Business Flood Coverage1,2,3$1000 Deductible
Note. All non-residential buildings, including non-residential condominium buildings, are eligible for the Preferred Risk Policy. In addition, individual residential condominium unit owners in non-residential condominium buildings are eligible for Contents-Only coverage. The deductibles apply separately to buildings and contents. Building deductible, $1,000. Contents deductible, $1,000.
Note: Replacement Cost coverage is not available for the building or contents. All claims will be settled using Actual Cash Value (depreciated value).
The NFIP's Preferred Risk Policy (PRP) covers commercial property in areas of moderate- to low-risk. This brochure provides information for building owners and tenants on premiums and coverage amounts.