Flood Insurance

Property insurance does NOT provide coverage for the peril of flood, wave wash or rising water. Flood insured damages during the 2004 and 2005 Hurricane Seasons totaled nearly $20 Billion dollars. You must purchase a separate flood insurance policy to protect your property in the event of flood damage.

Florida is surrounded by water and flood insurance premiums can be as affordable as $100 per year in a preferred risk area. Floods are one of the most common hazards in the United States. Last year 40% of flood losses occurred in non flood designated areas.

Property owners may be eligible for the “preferred risk” flood program. The location may not have two loss payments or disaster relief payments of more than $1000, or three or more loss payments or disaster relief payments, regardless of the amount made for losses on this property.

Property located in a designated flood zone must have an elevation certificate to obtain a quote. In some cases the insurance for flood in a designated “flood zone” can be lower than the cost for insurance in a “non designated flood zone”. The premium is determined by the information on the elevation certificate. The cost to obtain an elevation certificate is usually in the price range of $350 and up.

We will order a flood determination to help you understand the coverage limits and deductible options available so you make the right choices for business needs.

The maximum flood insurance available through FEMA for a commercial business is $500,000 covering building and $500,000 covering contents. The maximum available for Homeowners through Fema is $250,000 covering Building and $100,000 covering contents. There are many excess and surplus lines flood insurance carriers that offer higher limits covering additional property values.

If you want additional information on Flood Insurance please go to the FEMA web site here.