Even though flood insurance isn't federally required, anyone can be financially vulnerable to floods. In fact, people outside of mapped high-risk flood areas file nearly 25% of all National Flood Insurance Program flood insurance claims and receive one-third of Federal Disaster Assistance for flooding. When it's available, disaster assistance is typically a loan you must repay with interest. Preferred Risk Policy premiums are the lowest premiums available through the NFIP, offering building and contents coverage for one low price. In fact, residential premiums in moderate- to low-risk areas start as low as $57 per year for Contents Only coverage.* *$57 annual premium provides $8,000 in contents coverage. Don't see your question? Go to the NFIP’s Answers to Questions.