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You don't have to live near water to
become a flood victim. In fact, everyone lives in
a
flood zone. It's just a matter of how likely it is a
flood will hit your home. And
unfortunately, floods
are the most common natural disaster.
Floods can happen anytime,
anywhere. Between 25 and 30 percent of all claims paid by
the NFIP are for policies in low risk areas. Buildings in
areas with the greatest risk of flooding, called Special
Flood Hazard Areas (SFHAs), have a 26 percent chance of
being flooded during a 30-year mortgage.
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Most homeowner and
commercial insurance policies do not cover floods.
However, you can get flood insurance for your home or
business if your community participates in the National
Flood Insurance Program. There are over 18,000 communities
in the United States now participating in this program. To
find out how much your flood insurance policy would cost,
we must first determine your home's flood zone. Use the
online Flood
Zone Finder to determine the risk level for your
home or business. Then, complete the questionnaire and we
will send you an estimated cost of coverage.
The rates and premiums
provided in the estimated cost of coverage are based on
rules and rates provided by the National Flood Insurance
Program. The coverage afforded is in 3 separate policy
types, depending upon the occupancy of the building:
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The Dwelling Form -
Policy issued to insure a building and/or
residential contents on a single family or a 2-4
family dwelling.
Preferred
Risk Policy (PRP)
– The rates for a PRP are lower than other
dwelling rates. This is package Dwelling Form
policy offering nine coverage combinations for both
building and contents at a fixed premium. It is
available only to owners of 1-4 family residential
buildings located in B, C, and X Zones that meet
eligibility requirements based on an entire flood
loss history of the dwelling.
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The General Property Form
- Policy issued to insure a building and/or contents
on other residential or non-residential buildings.
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The Residential Condominium Building Association Form
(RCBAP)
- A policy designed to insure, under one master policy, the entire residential
condominium building, including all units within the building. It is available
only to residential condominium associations.
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