Flood Insurance-NFIP-Commercial

10/10/2018 (Permalink)

The National Flood Insurance Program (NFIP) provides flood insurance.  The NFIP doesn’t sell insurance.  Flood insurance  should be purchased from an insurance agent.

SERVPRO of Wilson County is interested in helping businesses in our community become more educated on flood insurance. According to FEMA, 40% of small businesses do not reopen after experiencing a devastating flood.

Things to know in Wilson County including Lebanon and Mt Juliet. Check to see if you might be required to have flood insurance.

• All agencies in Wilson County charge the same for flood insurance providing the same rating criteria is used
• Standard commercial insurance doesn’t pay for flood damage
• The NFIP sets the rates
• Rates depend on:
  • whether you live in a flood plain
  • flood risk in your area
  • building’s age
  • building’s construction
• Building property insurance covers the building
• Personal property insurance covers the building’s contents
• NFIP suggests you need both types
• Policies go into effect 30 days after purchase
• The NFIP help center number is 1-800-427-4661

SERVPRO of Wilson County recommends the following:

Check whether or not your area participates in the NFIP

• Check whether or not your area is part of the Community Rating System. The NFIP might have a discount
• Talk to your insurance agent when you need to make changes

Make sure your business is protected from the devastation that comes with unwanted flooding in your office.

Links:

https://www.usa.gov/property-insurance

www.fema.gov