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All property insurance policies list as an exclusion “flood, surface water,
waves, tides, tidal waves, overflow of any body of water, mudslide or
mudflow, water under the ground surface pressing on or flowing or
seeping through foundations,walls, floors, paved surfaces, basements,
doors, windows or openings, water from hurricanes, storm drain backups
due to heavy rain, winter thaws and rivers and streams going over their
banks”. The coverage can be afforded by a separate flood insurance
policy backed by the National Flood Insurance Program (NFIP). The
premium for this policy is determined by the amount of insurance, the
year of construction, the flood zone and the lowest floor elevation.
A “flood “elevation certificate” is helpful for rating this coverage.
There is a 30 day application waiting period with an exception for
lender loan closings.
The maximum amounts of flood insurance available under the NFIP:
| Building Coverage |
Emergency Program |
Regular Program |
| Single-Family Dwelling |
$35,000 |
$250,000 |
| 2–4-Family Dwelling |
$35,000 |
$250,000 |
| Other Residential |
$100,000 |
$250,000 |
| Non-residential |
$100,000 |
$500,000 |
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| Contents Coverage |
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| Residential - Regular |
$10,000 |
$100,000 |
Residential - Preferred |
N/A |
$100,000 |
Non-residential - Regular |
$100,000 |
$500,000 |
| Non-residential - Preferred |
N/A |
$500,000 |
As always, we highly recommend that you sit down with one of our experienced
account executives to discuss your specific needs, after which we will provide a
detailed insurance strategy and quote for your business.
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The abbreviated outlines of
coverages used throughout
this website are not intended
to express any legal opinion
as to the nature of coverage.
They are only visuals to a
basic understanding of
coverages. Please read your
policy for specific details of
coverages.
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We are a United States company. We are licensed to sell Business Insurance in the following states: NC, SC, VA, GA, FL, PA, IN, MD
We are licensed to sell Personal Insurance in the following states: NC, SC, VA
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