How Your Church Can Benefit Form Flood Insurance

freec tMost churches in the N.W. do not carry flood insurance, but they should. While damage caused by some type of natural events are covered under a commercial insurance policy; such as heavy rain, wind and even lightening, flood is excluded.

Benefits of Flood Insurance

  • Provides needed protection in the event of a flood.
  • Helps your business resume operations.
  • Allows you to rebuild at your location.
  • Covers the building, contents and inventory.

Here Are Some Things You Should Be Aware Of Regarding Flood Insurance

  • Once a flood starts you cannot obtain coverage.
  • There is no guarantee the Federal Government will respond to flooding.
  • You may live miles away from water and still have a flood risk. Anyone can buy flood insurance as long as your community participates in NFIP.
  • A sewer backup is not defined as a flood.
  • Changing your deductibles can also have a significant effect on your premium.
  • People are eligible to buy flood insurance after a flood, as long as the community participates in NFIP.
  • There is a 30 days waiting period from the date of purchase before your policy goes into effect.
  • Commercial flood insurance provides up to $500,000 of coverage for your building and up to $500,000 for its contents.

Almost all commercial flood insurance is purchased through the National Flood Insurance Program, which is subsidized to an extent by the federal government.

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