Flood insurance can be a sweetheart of a deal for those in lower-risk areas

Floods are the most frequent–and the most costly–natural disasters in the United States, and most homeowners insurance policies do not cover flood damage.

Without flood insurance, homeowners and renters could pay out of pocket or take loans to repair or replace their home or damaged contents. But, the National Flood Insurance Program (NFIP) offers many Texans a sweetheart of a deal to help reduce the financial burden of these disasters through a Preferred Risk Policy.

The Preferred Risk policies are available to homeowners who live in areas with a low- to moderaterisk of flood. Preferred Risk Policies cost a few hundred dollars a year and carry coverage of $250,000 for the structure and $100,000 in contents.

Renters can cover contents up to $100,000, and non-residential property owners can insure a building and its contents for up to $500,000 each. A flood insurance policy generally takes effect 30 days after purchase.

Whether it is Valentine’s Day or any other day, Preferred Risk flood insurance policies can be a deal that homeowners’ and renters’ wallets love. Call 800-427-4661 for an insurance agent referral or visit www.FloodSmart.gov or www.fema.gov/national-flood-insurance-program for more information on NFIP and Preferred Risk.