Commercial flood insurance helps keep your Florida business afloat.

Don’t let your business sink. Safeguard your investment with commercial flood insurance.

Commercial property insurance helps protect your business against property damage due to a variety of incidents. However, it typically does not cover damages caused by floods. For that, you’ll need commercial flood insurance. 

Flood insurance can help cover damages when your property and its contents are damaged by floods. For businesses located in areas at risk of floods, this coverage can offer invaluable protection and help your business get back on track following a flood.

  What Does Commercial Flood Insurance Cover?

Commercial flood insurance can help cover repair costs when your business building and its contents are damaged by floodwater. This type of insurance typically covers: 

• Electrical systems 
• Plumbing systems 
• Building appliances 
• Walls, windows, and staircases 
• Personal property 
• Carpeting 
• Valuables 
• Fuel tanks 
• Garages 
• And more 

These policies  can help businesses avoid significant financial damages when they need to repair their building following a flood. 

  What is the National Flood Insurance Program (NFIP)? 

The NFIP is managed by the Federal Emergency Management Agency (FEMA) and provides flood insurance through insurance companies to individuals and business owners across the United States. To purchase flood insurance through the NFIP, your business must be located in one of the 23,000 participating NFIP communities. 

If your business is in a high-risk flood zone, it’s important to purchase flood insurance as soon as possible, as there is a 30-day waiting period before coverage begins. If your business is damaged before this period is over, damages won’t be covered. 

Commercial Flood Insurance FAQs 

Still have questions? Here’s what you need to know about commercial flood insurance in Florida. 

How much does commercial flood insurance cost? 

Commercial flood insurance costs can vary greatly depending on factors such as: 

• Business location 
• Flood history 
• Local terrain 
• Proximity to water sources 
• And more 

Your insurance agent will help you understand what factors determine your rates. 

Who needs commercial flood insurance? 

As commercial property policies typically do not include coverage against floods, any business in a high-risk flood zone should strongly consider purchasing flood insurance. Additionally, businesses in high-risk flood zones with government-backed mortgages are required to have flood insurance. 

What is the maximum coverage for commercial flood insurance? 

The maximum coverage for commercial flood insurance is $500,000. This includes both business and personal property. Be sure to review your policy to familiarize yourself with your coverage limits, premiums, and deductibles.