Preferred Risk Vs. Standard Risk Flood Insurance – FAQs

We field a lot of great questions about flood insurance related to the differences between Preferred Risk and Standard Flood policies so we figured it be helpful to compile them all into one blog post. Here are the most frequently asked questions we get about Preferred Risk and Standard Flood Insurance:

Q: Can I Qualify for Both a Preferred and Standard Risk Flood Insurance Policy?
A: No. You can only qualify for one type of flood insurance policy, either Preferred Risk or Standard Risk.

Q: Is Preferred Risk or Standard Risk Flood Insurance Better?
A: While you can’t decide which policy you will qualify for, preferred risk flood insurance is the better option for the homeowner assuming they can qualify for it.

Q: What are the Qualifications to Preferred Risk Flood Insurance?
A: In order to qualify for a Preferred Risk Flood Insurance Policy, your building must be located in the moderate-risk B, C, and X Zones in the National Flood Insurance Program (NFIP) Regular Program communities.

Q: What Is The Difference In Coverage for Preferred Risk and Standard Risk Flood Insurance?
A: There is no difference in coverage provided for your building. The difference lies in the price you need to pay. Since preferred risk buildings are in an area less likely to experience a flood loss, property owners pay less money for the same amount of coverage.

Q: I Don’t Qualify For Preferred Risk Flood Insurance, Should I Skip Coverage Altogether?
A: If you don’t qualify for Preferred Risk Flood Insurance, it’s even more likely that you’ll need to have it. So we’d never recommend anyone who doesn’t qualify for a preferred risk policy forgo flood insurance coverage altogether.

Q: How Can I Tell What Type of Policy I Qualify For?
A: The easiest way to tell what type of flood insurance policy you qualify for is to contact a licensed insurance agency that specializes in flood insurance. The flood plain maps change frequently and it’s important to work with an agency who knows your current location well so you don’t wind up purchasing a more expensive type of policy than you really need.

Q: What Should I Do If I Have More Questions About Preferred and Standard Risk Flood Insurance?
A: Contact We’ll get you the best rates to keep your home or other property safe no matter where you’re located. You can call us directly at 1-800-747-5311 or click here to send us an online inquiry.