Did you know that your business insurance does not cover flood damage? Insurance against flood must be obtained separately. A flood insurance policy also reimburses you for the work that you did to sandbag your building, move furniture and remove debris.
The Federal Emergency Management Agency’s (FEMA) maps are important when it comes to flood insurance because if they show that your building sits in a 100-year flood plain, you must buy federal flood insurance in order to get a mortgage. If your building is outside a high-risk zone, or if you no longer have a mortgage, flood insurance is optional.