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Commercial Insurance Tips

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Understanding Commercial Flood Insurance

Florida is no stranger to floods.  With flash floods and adverse weather, you need to make sure your business is protected with the right type of commercial flood insurance.  Many business owners are not aware of the fact that their commercial property and contents insurance specifically excludes flood damage.  This means that any damage that is caused by a flash flood or the run off of water will be denied by your standard business insurance.  Understand how to find commercial property insurance that will cover floods and make sure you are protected under all circumstances.

Finding a Flood Insurance Program

Several different insurance agencies in Florida offer a flood insurance program designed for commercial property and contents.  This specialized insurance plan is offered throughout the state and each area is categorized as a flood “zone”.  If your property is in an area that is more prone to flooding, you will be in a higher premium zone.  The policy may not pay for all of the damages sustained but it will reduce your risks and the amount you will have to pay out-of-pocket substantially.

What is Covered?

There are two different types of commercial flood insurance.  One plan will cover the building and the other will cover the contents in the building.  Contents are usually defined as anything that is not permanently fixed to the structure.  Here is a breakdown of what is covered for deeper understanding:


*  The building listed and the foundation of the building

*  Plumbing


*  Furnaces and water heaters

*  Built-in appliances

*  Permanent flooring

*  Cabinets, counter tops, and fixtures

*  Windows

*  Detached buildings up to 10 percent of building cover

*  Removal of debris caused by flood


*  Business property like furniture and computer equipment

*  Window treatments

*  Portable appliances

*  Area rugs

*  Some valuable items up to the limits listed

*  Merchandise onsite

*  Merchandise in storage up to a limit

What is Not Covered?

Some items are not covered under your flood insurance policy.  It is important to understand what exactly is excluded so you can prepare if you have to file a claim.  Here are some things that are not covered:

*  Mildew and mold damage that was preventable

*  Money and precious metals

*  Trees and plants around the insured property

*  Property expenses to temporarily relocate

*  Business interruption or loss of use

*  Vehicles and their parts

You should understand the basics before you ever rule out the importance of carrying commercial flood insurance.  Do not wait until hurricane reports hit the web because insurance companies will put a moratorium on insurance until the risk no longer exists.  If you prepare ahead of time and you hear of a hurricane or the chances of a flash flood, you do not have to worry about whether or not your business will be damaged.  Meet with an experienced commercial agent selling flood insurance and build a policy that suits all of your needs.

For current rates and ways to save money on insurance, Tampa Bay area business owners in need of adding commercial flood insurance to their commercial insurance policy should call Mid Florida Insurance Professionals at (813)962-3082 for a quick quote and excellent rates on all commercial insurance plans.