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Commercial Coverage

Commercial Coverage: Questions for Your Agent

Find Out What You Need to Know

Before your insurance agent provides you with a quote, he or she may ask you for an Elevation Certificate - a certificate that verifies the elevation of your house compared to the ground - especially if your property is in a high-risk area. Buildings that are Post-FIRM, require the use of an elevation certificate for rating. Property owners always reserve the right to purchase an elevation certificate, which may potentially reduce their flood insurance premium. Please contact a licensed insurance agent for further information.

It's also valuable to talk with your real estate agent about market and home conditions. By doing so, you'll be able to make better decisions for your business.

Be proactive when it comes to purchasing insurance. Ask your insurance agent the following questions:

  • What flood zone is my business in? What is my property's flood risk?
  • Is flood insurance mandatory for my property? Will the lender require it?
  • Do I qualify for a Preferred Risk Policy?
  • Does my community participate in the NFIP Community Rating System (CRS)?
  • Does my community's CRS rating mean that I qualify for a CRS rating discount?
  • What will and won't be covered in case of flood damage?
  • How will my premium costs be affected if I get Building Only, Contents Only, or Building & Contents?
  • How will my premium costs be affected if I choose a higher deductible?
  • Are there additional expenses or fees I should be aware of?
  • What is Replacement Cost Value and Actual Cash Value?
  • If I have a claim, whom do I call?
  • How will my policy be renewed?

Use the Agent Locator >>

Learn your risk, and find an agent, by taking Your Risk Profile.


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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Last Updated: Sunday, 13-Apr-2014, 4:36 PM (EDT)

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