A number of factors determine the premium rates for flood insurance coverage.
- Age of the building
- Amount of coverage purchased
- Building occupancy
- Design of the building
Factors for buildings in SFHAs include:
The only buildings in Zones B, C, and X which are eligible for preferred risk coverage at a pre-determined, reduced premium rate are single-family and 1 to 4 family dwellings. For these exceptions, there are certain loss limitations depending on the amount of insurance purchased.