Flood insurance is not automatically included under a business insurance policy. This coverage is administered by the National Flood Insurance Program (NFIP) and needs to be purchased as separate, additional coverage.
What is Covered Under Flood Insurance?
Flood insurance covers two broad areas of loss. The first is to the physical building or structure, which includes damage to the foundation, walls, HVAC, wiring and more. The second form of coverage insures the contents including furniture, equipment, inventory and other items within the structure.
How is a Flood Defined?
The NFIP defines a flood as: “A general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow.” While flooding more frequently occurs along rivers, lakes and streams, it also occurs in coastal areas. But as we've seen across the U.S., it also can occur as the result of a large amount of rain or snow, even to properties not in a flood zone.
How Selective Can Help
Selective is the third largest writer of flood insurance under the federal National Flood Insurance Program. This gives us experience in underwriting business flood insurance in all 50 states and for a variety of business types. We can help you secure affordable coverage for the unique elements of your company.
Get flood insurance for your unique business by contacting a flood agent.
For more information on the types of business insurance solutions Selective Insurance offers, visit Insurance Coverages for Your Business.