Flood Insurance And Your Commercial Property Insurance

July 21, 2020


If you operate a business, you know your building or property is the center of your operations. Commercial Flood Insurance protects one of your biggest investments–your business from damage caused by rising water. Floods often strike without warning‐destroying buildings, equipment, and inventory. Your business is your dream and your legacy, and you protect it with commercial property insurance so you can continue operations in the event of a fire or some other claim.

Have You Considered Flood Insurance?

According to the Federal Government, at least 25 percent of businesses that close after disasters, like a flood, never reopen. From 2010 to 2019, the average commercial flood claim was more than $82,000. Over 80% of all disasters involve flooding.

What Does Flood Insurance Cover?

  • Buildings
  • Contents
  • Equipment
  • Inventory

Standard Commercial Flood Insurance

Your standard flood insurance policy can be provided by the National Flood Insurance Program (NFIP), and your property must be insured for the maximum amount.

Excess Commercial Flood Insurance

Excess commercial flood insurance provides protection against damage caused by flooding. This coverage is over and above your standard flood Insurance policy (NFIP), extending your limits beyond the $1,000,000 available.

Final Thought

Having a formal disaster plan for your business is also very important. Having a plan can help your business weather the storm and resume operations. There are a number of resources for businesses to consider: