Residents urged to buy preferred risk flood insurance

WKOW-TV, Madison

...NFIP's Preferred Risk rates are quite a bargain, starting at $119 a year for buildings without basements. A home can be covered for up to $250,000 for the dwelling and $100,000 for contents. Replacement cost coverage is available for single-family, primary residences. Renters and business owners also are eligible for Preferred Risk Flood Insurance.

The Federal Emergency Management Agency (FEMA), which administers the Preferred Risk Policy under NFIP, reminds residents that flood insurance is important because floods can occur where they are least expected.

Approximately 25 percent of all claims paid by the NFIP are for policies in
low- or moderate-risk communities.