Question:
Can I carry a preferred Risk Policy for as long as I am required to carry flood insurance?
Answer:
No. Once your property has been mapped into a high-risk area, you can only renew your Preferred Risk Policy during the two year eligibility extension. Afterward, if the flood insurance was maintained, you may qualify for a standard policy instead of a high-risk area policy.
Can I carry a preferred Risk Policy for as long as I am required to carry flood insurance?
Answer:
No. Once your property has been mapped into a high-risk area, you can only renew your Preferred Risk Policy during the two year eligibility extension. Afterward, if the flood insurance was maintained, you may qualify for a standard policy instead of a high-risk area policy.