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• A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP is available for property located in B, C, and X zones in Regular Program communities that meet eligibility requirements based on the property's flood loss history.

  Federal Emergency Management Agency (FEMA) - Cite This Source - This Definition
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  Cite Definition for Preferred Risk Policy (PRP)

  American Psychological Association (APA)

  Preferred Risk Policy (PRP). (n.d.). National Flood Insurance Glossary. Retrieved May 28, 2023, from website: http://www.expertglossary.com/definition/preferred-risk-policy-prp.

  Chicago Manual of Style (CMS)

  Preferred Risk Policy (PRP). National Flood Insurance Glossary. Federal Emergency Management Agency (FEMA). http://www.expertglossary.com/definition/preferred-risk-policy-prp (accessed: May 28, 2023).

  Modern Language Association (MLA)

  "Preferred Risk Policy (PRP)." National Flood Insurance Glossary. Federal Emergency Management Agency (FEMA). 28 May. 2023 http://www.expertglossary.com/definition/preferred-risk-policy-prp.

• Browse Related Terms: Actual cash value (ACV), Elevation Certificate, Federal Policy Fee, Grandfathering, Group Flood Insurance Policy (GFIP), Increased Cost of Compliance (ICC), policy, Post-FIRM Building, Pre-FIRM Building, Preferred Risk Policy (PRP), Probation Surcharge (Premium), Replacement Cost Value (RCV), Standard Flood Insurance Policy (SFIP), Submit-for-Rate, Waiting Period, Wave Height Adjustment, Write Your Own (WYO) Program

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