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To contact us: |
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Flood relief Specialists |
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The Source of Solutions for Flood Insurance Nationwide |
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Preferred Risk Policy |
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Definition: A Preferred Risk Policy (PRP) is an optional Flood Insurance Policy that is available to Structure Owners that have a low to moderate risk of flooding determined by FEMA by means of a LOMA (Letter of Map Amendment). The PRP offers the same amount of coverage with the lowest annual premium.
FRS highly encourages Structure Owners to consider carrying a PRP for several reasons.
· Homeowner’s Insurance does not cover Flood Damage.
· A PRP is a small price to pay for protection from what could be a big, expensive problem.
· A PRP offers the same quality coverage as a standard Flood Insurance Policy with a premium starting at as low as $119.00 per year.
· 25% of Flood Insurance Claims come from areas outside of high-risk Flood Zones.
· A PRP that is without a lapse in coverage Grandfathering rules would apply.
· A PRP is not Mandated, it is optional.
As a final point, a PRP results in “Peace of Mind” allowing the structure owner to find relief in knowing their vested interest is insured with the maximum coverage at a minimal cost.
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