The National Flood Insurance Program’s Preferred Risk policy (PRP) offers lower-cost protection for homes and apartments in areas of low-to moderate- flood risk. These areas outside of known floodplains are shown as B, C, or X zones on a flood map.

Most single-family homes, townhomes, and apartments in these areas are eligible for the lower PRP rates, as long as the building does not have a significant history of flooding. Most multi-unit condominium buildings do not qualify, though insurance for them is available at standard rates.

Several combinations of building and contents protection are available. You can buy $20,000 building coverage and $8,000 contents coverage for as little as $112 per year. Higher coverage combinations of up to $250,000/ $100,000 are available. See chart. 

For as little as $39 per year, you can buy $8,000 of contents-only coverage. Higher limits up to $100,000 are available. (Coverage is not provided for contents located in basements only).

Some people assume that federal disaster assistance will bail them out if their property is flooded. But disaster assistance is available only if a flood is a federally declared disaster- most floods are not. And disaster assistance usually comes in the form of a loan, which must be repaid with interest. Your PRP claim reimburses you for covered losses in any flood, and never has to be repaid.

Contact the Murray Insurance & Financial to learn more about the Preferred Risk Policy, your flood risk, and how flood insurance can help protect your financial future. Or find out more at floodsmart.gov

Everyone lives in a flood zone.

• You don’t need to live near water to be flooded.
• Floods are caused by storms, melting snow, hurricanes, and water backup due to inadequate or overloaded drainage systems, dam or levee failure, etc.

Flood damage is not covered by most homeowners’ policies.

• You can protect your home, business, and belongings with flood insurance from the National Flood Insurance Program.
• You can insure your home with flood insurance for up to $250,000 for the building and $100,000 for its contents.

You can buy flood insurance no matter what your flood risk is

• It doesn’t matter whether your flood risk is high or low. You can buy flood insurance as long as your community participates in the National Flood Insurance Program.
• And, it’s a good idea to buy even in low risk areas: between 20 and 25 percent of all flood insurance claims come from low-risk areas.

The low-cost Preferred Risk Policy is ideal for homes and businesses in low- to moderate-risk areas.

• Homeowners can insure buildings and contents for as little as $112 per year.
• Business owners can insure building and contents for as little as $500 per year.
• Residential renters can insure contents for as little as $39 per year.

Flood insurance is affordable

• The average flood insurance policy costs a little more than $400 per year for about $100,000 of coverage.
• In comparison a $50,000 disaster home loan can cost you about $240 a month at 4 percent interest over 20 years.

Flood insurance is easy to get.

• You can buy NFIP flood insurance from the Jim Murray Insurance Agency today! Just contact us!
• You may even purchase your flood insurance policy with a credit card.

Contents coverage is separate, so renters can insure their belongings too.

• Up to $100,000 contents coverage is available for homeowners and renters.
• Whether you rent or own your home or business, make sure to contact us about contents coverage. It is not automatically included with the building coverage (except under the Preferred Risk Policy).

Up to a total of $1 million of flood insurance coverage is available for non-residential buildings and contents.

• Up to $500,000 of coverage is available for non-residential buildings.
• Up to $500,000 of coverage is available for the contents of non-residential buildings.

There is usually a 30-day waiting period before coverage goes into effect.

• Plan ahead so you're not caught without flood insurance when a flood threatens your home or business.

Federal disaster assistance is no the answer.

• Federal disaster assistance is only available is the President declares a disaster.
• Flood insurance pays even if a disaster is not declared. It's just good sense.

We want you to be covered in every part, and at every stage of your life. That's why we offer a complete like of insurance products. We'll work closely with you to tailor a policy or group of policies that fit your needs, your goals and your budget. In fact, you may be eligible for discounts when you combine other policies with your car insurance. We're also committed to making sure you understand your policy. We explain your coverage completely and simply. So you know exactly what you're getting and what it protects. It's another way we can help make your life less complicated. Contact us by email or by telephone at 281-499-0377.