Flood insurance information for businesses

Commercial or business insurance typically doesn't cover flood damage. However, through the National Flood Insurance Program (www.floodsmart.gov) you can buy coverage from an insurance agent and company.

Coverage limits

  • $500,000 for the structure
  • $500,000 for the contents

Where to find more coverage

  • Talk to your insurance agent or broker. You may need to buy it through surplus lines (www.surpluslines.org). This is a segment of insurance we don't regulate, so make sure you know what the policy does and doesn't cover.
  • If your agent or broker doesn't handle surplus lines coverage, you can get a list of brokerage firms (www.surpluslines.org) from the Surplus Lines Association of Washington.
  • Look for a company with a higher rating, such as A- or better. You can check the company's rating through a rating service, such as:

A.M. Best Co (www.ambest.com)
908-439-2200

Moody’s Investor Service, Inc. (www.moodys.com)
212-553-0377

Standard & Poors (www.standardpoors.com)
800-523-4534

Duff & Phelps (www.duffandphelps.com)
866-282-8258

When your policy takes effect

  • National Flood Insurance Program policies go into effect 30 days after the policy is written, unless the policy is required to qualify for a mortgage.
  • Surplus lines policies typically don't have a waiting period.

Updated 03/27/2014

See also

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