Does Your Business Insurance Cover Floods? Floods can strike unexpectedly, causing significant damage to your Florida Panhandle businesses. As a business owner, you might wonder, “Does my business insurance policy cover floods?” At Term Brokers Insurance, we’re here to clarify flood coverage for commercial properties and help you protect your business from costly losses.Understanding Business Insurance and Flood CoverageMost standard business insurance policies, such as Business Owners Policies (BOPs), do not include flood coverage. These
Michael McDonald
Business Insurance, Flood Insurance Blog, Homeowners Insurance, Hurricane Preparedness Tips, Insurance Tips
Why Protect Your Panhandle Home from Floods? Prepare for Florida Panhandle hurricane floods Worried about hurricane floods ruining your Florida Panhandle home? You’re not alone—Hurricane Michael (2018) caused $25 billion in damages, flooding Bay County, and Helene (2024) hit hard. FEMA says one inch of floodwater can cost $25,000, but mitigation saves thousands.As a family-owned agency in Fort Walton Beach, Term Brokers Insurance helps Panhandle families stay safe. Our guide shares 10 easy steps to
Michael McDonald
Business Insurance, Flood Insurance Blog, Homeowners Insurance, Hurricane Preparedness Tips, Insurance Tips
Living in Florida, you’re aware of the constant threat of floods. Part 1 of this series explained why – the state’s low elevation, proximity to water, and frequent severe weather make most areas susceptible to 100-year flood events. Part 2 covered key concepts like Base Flood Elevation (BFE), freeboard, and elevation certificates. Now, let’s explore the flood insurance options that are available to you. National Flood Insurance Program (NFIP): The Main Course Most Florida property
Michael McDonald
Flood Insurance Blog, Florida, Homeowners Insurance, Hurricane Preparedness Tips, Insurance Tips
Florida Flood Insurance RequirementsWe are seeing the effects of the passage of 2022 Senate Bill 2A.The most obvious is that many Citizens’ policyholders must purchase flood insurance. Effective March 1st, flood insurance is no longer an option for homes valued at $600,000 or higher! The value drops $100,000 annually through 2026; in 2027, it will apply to all Citizen policies. The most important exception is that flood protection is not required for condos if the