Fuller Insurance Agency

What are the chances of risk for you?

The National Flood Insurance Program defines "flood" in the following manner: "A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:

• Overflow of inland or tidal waters; or
• Unusual and repaid accumulation or runoff of surface waters from any source; or
• Mud flow; or
• Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."

Flooding can happen anywhere and, given the description, is not restricted to those who operate a business in close proximity to a body of water. We have all seen the devastation caused by mudslides, taking hillsides and mountain sides barreling into business structures. Rapid accumulation of water can occur easily with inadequate or overloaded drainage systems or in areas of new construction where, even with best intentions, the land levels have been altered in such a way to tamper with the land's ability to drain properly by causing diversion of runoff paths.

Your business policy no doubt provides excellent coverage, but NOT FOR FLOOD. Floods and flash floods occur in all 50 states; just an inch of water can cause extensive damage to your property and government aid only becomes available if the President makes an official disaster declaration (note that only half of all flooding qualifies).

Frequently Asked Questions About Flood Insurance

What are the maximum coverage limits of a Standard Flood Policy?

Habitual / Apartment Buildings Over 4-Units

• Structure $250,000
• Contents $100,000

Business / Non-Residential

• Structure $500,000
• Contents $500,000

What if the maximum coverage provided by a Standard Flood policy is not enough to rebuild my home or business?

Excess Flood Insurance coverage can be purchased and can increase your coverage for your Business Structure can be increased up to an additional $500,000 - covering up to $1,000,000 and more.

Contents coverage for your business can also be increased up to $100,000 above the maximum contents coverage provided by a standard policy (for a total of $200,000 up to $600,000 for a business structure).

Can I wait for a flood warning before I buy a flood insurance policy?

Waiting until there is a flood warning to purchase flood insurance coverage is not a good idea, especially since most new flood policies have a 30-day waiting period. However, there is usually no waiting period for flood insurance when it's in connection with making, increasing, renewing or extending a loan.

What can a flood policy include?

• Flood debris cleanup
• Structural damage (walls, stairway, ceilings, floors).
• Household appliances damaged by floodwater (i.e., air conditioners, Refrigerators, washers/dryers, circuit breaker boxes).
• Wall-to-wall carpeting, tile, other floor surfaces. If selected, contents such as furniture, collectibles, clothing, jewelry.

What building occupancies can be insured?

• Dwelling Form -- insures residential structures and/or contents of individual residential condominium units.
• General Property Form -- insures residential buildings, four or more families and non-residential (i.e.: churches, schools, businesses).
• Residential Condominium Building Association Form -- insures associations under condominium form of ownership.

Don't think that flooding can never happen to YOU.

This is invaluable protection and, depending on your "flood zone" (we all live in one, whether in a hazard or non-hazard determination) one of the most affordable insurance policies around. Note: There is a 30 day waiting period on most new flood policies (exception those required to obtain on new/refinanced loans) so don't get caught without!

We at Fuller Insurance Agency are here to assist you in obtaining coverage to protect your business and your assets.

Remember, it's our business to protect your business!