Commercial Flood Policy Feature Checklist
What to confirm in a commercial flood policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current flood policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Building Coverage | Covers the structure, systems, and permanent fixtures — NFIP caps it at $500,000. | Standard | |
| Contents / Business Property | Covers inventory, furniture, and equipment — a separate NFIP limit of $500,000. | Standard | |
| Separate Flood Policy | Standard property and business owner policies exclude flood — confirm you have one. | Standard | |
| Excess Flood Above NFIP | Adds limits when building or contents are worth more than $500,000. | Often limited | |
| Flood Business Income | NFIP does not pay lost income — only private or excess flood may add it. | Often limited | |
| Basement & Below-Grade Property | Contents and many systems below ground level are excluded or limited. | Often limited | |
| Outdoor Property & Vehicles | Lots, landscaping, and outdoor stock are not covered by NFIP. | Often limited | |
| Increased Cost of Compliance | Helps pay to elevate or flood-proof after a loss — up to $30,000 within NFIP. | If needed | |
| Sewer & Drain Backup | Only covered when caused by flooding — otherwise needs a property endorsement. | If needed | |
| Waiting Period Timing | Most new flood policies start 30 days after purchase — buy before storm season. | If needed | |
| Lender Requirement | Confirm the limit and deductible meet your lender's requirement. | If needed |
The gap most often missed in this coverage
The gap most often missed in commercial flood coverage is everything the NFIP policy leaves out. It caps building and contents at $500,000 each, does not pay lost business income, and excludes outdoor property and most basement contents — while almost one-third of flood claims come from outside high-risk zones. New policies also usually wait 30 days, and the program has lapsed nine times since 2010. Confirm your values, consider excess or private flood with business income, and buy before you need it.
Send us the checklist and we'll review your commercial flood coverage line by line, then market it across multiple carriers that compete for your account.
Related: Commercial Flood Insurance · Commercial Flood Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a commercial flood policy include?
Standard features to confirm in a commercial flood policy include Building Coverage, Contents / Business Property, Separate Flood Policy. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my commercial flood coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.