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Commercial Coverage

Commercial Coverage: Policy Rates

Rates effective October 1, 2013.

Find Your Rates

Below, you'll find a sampling of policy premiums for different amounts of coverage.

If you have any additional questions or are ready to purchase flood insurance, you can contact an agent.

Moderate-to Low-Risk Areas
NON-RESIDENTIAL: Preferred Risk Policy (ZONES B, C, X)
(PRE-/POST-FIRM)
A non-residential policy, based on preferred premiums, provides qualified structures in moderate-to low-risk areas with two types of coverage: Building & Contents and Contents Only.

Building & Contents1Contents Only1,4,6
CoverageAnnual Premium2,3CoverageAnnual Premium2
 Without Basement or Enclosure5With Basement or Enclosure4 Contents Above Ground (more than one floor)All Other Locations (basement only not eligible)
$50,000/$50,000$643$1,016$50,000$185$394
$100,000/$100,000$1,016$1,731$100,000$270$586
$150,000/$150,000$1,326$2,321$150,000$355$778
$200,000/$200,000$1,637$2,756$200,000$439$970
$250,000/$250,000$1,886$3,129$250,000$524$1,163
$300,000/$300,000$2,134$3,502$300,000$609$1,355
$350,000/$350,000$2,321$3,875$350,000$694$1,547
$400,000/$400,000$2,507$4,185$400,000$778$1,739
$450,000/$450,000$2,694$4,497$450,000$863$1,931
$500,000/$500,000$2,880$4,807$500,000$948$2,123

1 Add the $50.00 Probation Surcharge, if applicable.
2 Premium includes Federal Policy Fee of $22.00.
3 Premium includes ICC premium fee of $5.00.
4 Contents-only policies are not available for contents located in basement only.
5 Use this section of the table for buildings with crawlspaces or subgrade crawlspaces.
6Contents-only policies are not available for contents located in basement only.

Note: All non-residential buildings, including non-residential condominium buildings, are eligible for the Preferred Risk Policy. Individual non-residential condominium units are only eligible for Contents Only coverage. In addition, individual residential condominium unit owners in non-residential condominium buildings are only eligible for Contents Only coverage. The deductibles apply separately to buildings and contents. Buildings deductible, $1,000. Contents deductible, $1,000.

Note: Replacement Cost Coverage is not available for the buildings or contents. All claims will be settled using Actual Cash Value (depreciated value). Business interruption is NOT an available coverage through the National Flood Insurance Program (NFIP).

The NFIP's Preferred Risk Policy (PRP) covers commercial property in areas of moderate- to low-risk. This brochure provides information for building owners and tenants on premiums and coverage amounts. PRP for Businesses [PDF 622K] Text only version [6K]. Beginning October 1, 2013, these rates will increase 20 percent each year until they reach standard X Zone rates.


NON-RESIDENTIAL: Standard-Rated Policy (ZONES B, C, X)
(PRE-/POST-FIRM)
A policy based on standard rates, is available for properties that are not eligible for the Preferred Risk Policy. Standard-rated policies for buildings in moderate-to low-risk areas offer three types of coverage: Building & Contents, Building Only, and Contents Only.

Building & ContentsBuilding OnlyContents Only
CoverageAnnual Premium1CoverageAnnual Premium1CoverageAnnual Premium2
$100,000/$50,000$1,666$100,000$1,026$50,000$685
$200,000/$100,000$3,108$200,000$1,827$100,000$1,325
$300,000/$200,000$4,310$300,000$2,100$200,000$2,254
$400,000/$300,000$5,161$400,000$2,373$300,000$2,832
$500,000/$400,000$6,010$500,000$2,645$400,000$3,409
$500,000/$500,000$6,588$500,000$2,645$500,000$3,987

Includes a Reserve Fund Assessment of 5%

1 Includes a Federal Policy Fee of $44 and ICC Premium.
2 Includes a Federal Policy Fee of $44 only.
3 Higher deductible limits are available, up to $50,000 for Non-Residential properties.

Premiums are based on a non-residential building, 1 floor, no basement or enclosure, with contents located on first floor above ground only, $1,000 building deductible and $1,000 contents deductible. Note: If your community participates in the CRS, your premium may be even lower.

The CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements. As a result, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from the community actions. Learn more about CRS and see if your community participates.

Note: Replacement Cost Coverage is not available for non-residential buildings or contents. All claims will be settled using Actual Cash Value (depreciated cost). Business interruption is NOT an available coverage in the National Flood Insurance Program.


High-Risk Areas

Rates in high-risk areas (A and V Zones) are calculated based on a variety of factors, including elevation and building construction. Policies can be purchased for contents only, building only, or both contents and building coverage. Talk to a licensed insurance agent to determine the premium for your specific property.

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PRIMARY RESIDENCE DISCLAIMER


For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date. If the building will be lived in for less than 80 percent of the policy year, it is considered to be a non-primary residence.

How Can I get Covered?

  • Rate your risk
  • Estimate your premiums
  • Find an agent
 

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