Flood insurance is the surest way to protect your property from rising water. Just an inch of flood water can cause more than $25,000 dollars in damage. Floods are destructive, economically devastating and all too common, so we recommend flood insurance coverage for ALL your property exposures, including your personal and commercial property. Personal Property such as Homes & Condos, Rental Properties, Vacation Homes and/or Commercial Property and contents are eligible for coverage. If you do maintain a flood insurance policy, we strongly recommend reviewing your policy for adequate policy limits on your building and contents exposures.
Please remember that a waiting period of 30 days applies to all new and lapsed National Flood Insurance Program (NFIP) flood insurance policies as well as any requested changes to your existing flood policy. The current maximum flood insurance policy limits available through the NFIP are as follows:
- $500,000 for commercial buildings and $500,000 for commercial contents
- $250,000 for residential dwellings and $100,000 for personal contents
- $500,000 building and $100,000 contents on commercial residential property with 5 or more units
Also note:
- Excess flood coverage may be available through private insurance.
- For commercial flood insurance policies, only 10% of your NFIP limits will apply to your tenant betterments and improvements but may be available through private flood markets.
- If you own/operate multiple buildings at the same location, each building must be insured separately for building and/or contents.
- All Losses under the NFIP commercial flood policy are settled on Actual Cash Value basis (replacement cost less depreciation).
Like floods, earthquakes are another hazard usually excluded from your standard property policy. Unlike the federal flood program, earthquake coverage is written through private insurance carriers. If you are in an area prone to earthquakes, we recommend adding coverage to your policy.
Please contact us to quote or review your flood insurance today!
Pre-Season Preparation
☐Review your insurance policies for any flood coverage/ flood endorsements,
☐If no current coverage, get a quote now!
☐Confirm contents, building/ tenant improvements covered under flood-related events
☐Know your store’s FEMA flood zone designation
☐Photograph and digitally store/ backup updated inventory records, customer records, and other key data
☐Elevate safes, displays, and equipment where possible
☐Install sump pumps, backflow valves, and water alarms
☐Establish a written rapid flood response plan for staff
☐Verify contact info for vendors, insurance, and emergency services
⏳ When Flooding is Forecasted
☐Move inventory to high ground or secure off-site location (check with agent for off-premises coverage)
☐Power down and elevate critical electronics
☐Deploy flood barriers (sandbags, door dams, etc.)
☐Protect documents and signage
☐Notify staff of store closure or adjusted hours
☐Communicate updates on your website and social media
☐Secure stock in waterproof containers
🚨 After the Flood
☐Take photos/videos of all damage before cleaning up
☐Contact your insurance provider immediately
☐Secure your property from further damage
☐Do not discard any damaged inventory until inspected
☐Check inventory records for losses or discrepancies
☐Keep customers informed on delays or reopening plans
Give us a call today at 504-262-8240 or send us an email to: info@clockworkins.com.
Clockwork Insurance is here to assist with your flood insurance needs.
