Protect your business from destructive events.
Flood insurance personalized for your business.
At least 25 percent of businesses that close after destructive events such as floods never reopen. We’ll design a policy that will protect your business, as well as its physical contents and assets, from the damage costs that come from floodwater.
Is your business protected with flood insurance?
As with homeowners insurance policies, many business owners don’t realize that their commercial property insurance doesn’t necessarily cover flooding. Suffering a flood can wipe out a business because it’s not just a matter of replacing damaged equipment and repairing buildings, but also the sheer time it takes, during which the facilities can’t be used.
Why you should get covered for floods sooner rather than later.
In some cases, flood insurance policies don’t take effect until after a 30-day waiting period, so it’s not smart to wait until heavy rain is forecasted in your business’ location.
Consider the risks of flooding to your business.
Additionally, it’s important to note that with commercial properties, sudden excessive rainfall isn’t necessarily the biggest flood risk. You must also factor in drains getting clogged, which can turn a normal rainfall or snow storm into an unexpected catastrophic event.
Choosing the right flood insurance based on your business.
As a business owner, you’ll need to look at both commercial flood insurance offered through the federal National Flood Insurance Program (NFIP) and commercial flood insurance coverage from non-NFIP policies. The two big advantages of non-NFIP policies are that they can pay out full replacement costs (whereas NFIP payments account for depreciation), and they can include coverage for loss of business during the rebuilding phase (loss of business is not covered by NFIP).
Whether your business is located in an area of common flooding or not, commercial flood insurance is worth exploring. Contact our insurance experts, and we can help you get started.
Flood Insurance FAQ
Is flood insurance required by law?
Flood insurance generally isn’t required by law, but if your home is in a high-risk flood zone and you have a mortgage, your lender typically requires you to carry coverage. Outside a high-risk zone, coverage usually isn’t required, though as we’ve covered, that doesn’t mean the risk is zero.
What does a flood insurance policy actually cover?
A flood policy generally covers two separate things: your home’s structure and your personal belongings, each with its own coverage limit. Under the NFIP, building coverage caps at $250,000, and contents coverage at $100,000 for a typical home. Contents claims are typically settled based on actual cash value, which factors in depreciation. It’s worth talking to your agent about how that could affect a claim, especially if you need more than the coverage limit.
Is there a waiting period before my flood coverage starts?
Yes, most new flood policies have a 30-day waiting period before coverage takes effect. There are a couple of exceptions, though: if your lender requires flood insurance as part of a mortgage closing, coverage can typically start right away. It’s still smart not to wait until a storm is in the forecast to get covered. That’s part of why it’s smart to get flood coverage in place well ahead of storm season, rather than waiting until a storm is already in the forecast.
Can renters buy flood insurance?
Yes. If you rent your home, you can typically purchase a flood policy to cover your personal belongings, even though your landlord is usually responsible for insuring the building itself.
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As an independent agency, we are here to help you find the right Flood Insurance coverage.
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Flood Insurance Quote Request
As an independent agency, we are here to help you find the right coverage.
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It only takes a minute to get started.
- Fill out the form, we’ll be in touch.
- Review options with an agent.
- Get the coverage you need.
