Do I need to buy flood coverage for my commercial property?

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Commercial flood insurance protects your business from the damage that results from a flood. 

Property insurance protects your commercial buildings from common disasters such as  a fire, windstorm, hail, and more. Flood damage is specifically excluded from most commercial insurance policies. 

40% of businesses won't reopen after a natural disaster. Flooding happens to be the most common natural disaster, as it's usually coupled with other severe weather events. Planning for a disaster is essential, and could make or break whether your business reopens. 

The National Flood Insurance Program (NFIP) offers a maximum coverage of $500,000 each for both your commercial building and commercial property. With the NFIP, there's a 30 day waiting period before coverage begins. That's why it's important to be prepared long before a weather event or flash flood are on the horizon. 

It's important to note that policies written with the NFIP do not include business interruption coverage or coverage for property physically outside of the commercial building. An NFIP policy only insures your building and your business personal property. 

There may be alternative private flood markets for businesses that qualify. These policies can offer higher limits than $500,000, and often include coverage for business interruption that offers financial assistance while your business is closed due to a flood. 

In the aftermath of a destructive flood, the peace of mind knowing that you're covered is priceless. Let us help you protect your investments from troubled waters!