Your flood insurance premium may be as low as $129/year if you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy.
Although many floods are caused by massive storms like hurricanes or nor’easters, many floods happen as a result of small, localized events, like afternoon thunderstorms. No matter where you live, it is important to remember that just a few inches of water in a home can cause thousands of dollars of damage.
Nearly 25% of all flood claims are made from low risk zones where flood insurance isn’t required by the mortgage lender. New development can change natural runoff paths, putting your property in harm’s way.