TeachMeFinance.com - explain Preferred Risk Policy (PRP)
Preferred Risk Policy (PRP) The term 'Preferred Risk Policy (PRP)' as it applies to the area of flooding can be defined as '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'.
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