How do I get a preferred risk premium on flood insurance?

I live in a low risk (Zone X, not within a 500-year floodplain) condo.

I log on to, and there are two schedules for Zone X:
– “Preferred” risk
– “Moderate to Low” risk

Preferred risk premiums are about 1/3 the price of moderate to low risk premiums. According to the website, most people in moderate to low risk areas qualify for preferred risk.

However, when I got a quote, I did not get preferred risk, so flood insurance costs over $ 1000/year for my $ 125000 condo. This seems like a ripoff since my odds of flood are nearly zero.

I suspect that my agent is trying to inflate the bill, but I have no idea what qualifies a property for preferred risk. Does anyone have a clue what determines if a property qualifies for preferred risk vs. moderate/low risk?

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