The Flood Video Blog https://www.floodinsuranceguru.com/floodvideoblog Our Daily Flood Video Education Blog en Tue, 25 Oct 2022 04:16:17 GMT 2022-10-25T04:16:17Z en Lowering Premiums on Builders Risk Flood Insurance https://www.floodinsuranceguru.com/floodvideoblog/lowering-premiums-on-builders-risk-flood-insurance <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/lowering-premiums-on-builders-risk-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/yDMrTwWMvbrvpwFJeZxsek.jpg" alt="Lowering Flood Insurance Premiums on Under Construction Properties" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 540px; min-width: 256px; display: block; margin: auto;"> <div class="hs-embed-content-wrapper"> </div> </div> <h1>Lowering Flood Insurance Premiums on Under-Construction Properties</h1> <p>&nbsp;</p> <p>&nbsp;</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/lowering-premiums-on-builders-risk-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/yDMrTwWMvbrvpwFJeZxsek.jpg" alt="Lowering Flood Insurance Premiums on Under Construction Properties" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 540px; min-width: 256px; display: block; margin: auto;"> <div class="hs-embed-content-wrapper"> </div> </div> <h1>Lowering Flood Insurance Premiums on Under-Construction Properties</h1> <p>&nbsp;</p> <p>&nbsp;</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Flowering-premiums-on-builders-risk-flood-insurance&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> under construction builders risk Tue, 25 Oct 2022 04:03:36 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/lowering-premiums-on-builders-risk-flood-insurance 2022-10-25T04:03:36Z 3 Things About Flood Insurance in Montgomery, Alabama https://www.floodinsuranceguru.com/floodvideoblog/3-things-about-flood-insurance-in-montgomery-alabama <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/3-things-about-flood-insurance-in-montgomery-alabama" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/Zzj81VnhWwVBDcPjdN2nSK.jpg" alt="3 Things About Flood Insurance in Montgomery, Alabama" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;"><a href="https://www.floodinsuranceguru.com/blog/alabama-flood-insurance-new-federal-flood-program-risk-rating-2.0">Alabama </a>has been getting more than a couple of flood incidents in recent times and this can really become a big concern to property owners. We've seen this happen in Birmingham City in the last two years.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/3-things-about-flood-insurance-in-montgomery-alabama" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/Zzj81VnhWwVBDcPjdN2nSK.jpg" alt="3 Things About Flood Insurance in Montgomery, Alabama" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;"><a href="https://www.floodinsuranceguru.com/blog/alabama-flood-insurance-new-federal-flood-program-risk-rating-2.0">Alabama </a>has been getting more than a couple of flood incidents in recent times and this can really become a big concern to property owners. We've seen this happen in Birmingham City in the last two years.</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2F3-things-about-flood-insurance-in-montgomery-alabama&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Real Estate Private Flood Insurance national flood insurance program investors property owners Southeastern Region Alabama Tue, 12 Jul 2022 21:10:22 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/3-things-about-flood-insurance-in-montgomery-alabama 2022-07-12T21:10:22Z What is Conditional Renewal? https://www.floodinsuranceguru.com/floodvideoblog/what-is-conditional-renewal <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-conditional-renewal" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/Y4B6iY1ko4uZLnKGPYGmW6.jpg" alt="What is Conditional Renewal?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;"><a href="https://floodinformation.floodinsuranceguru.com/knowledge/what-is-private-flood-insurance">Private flood insurance</a> has been going through noticeable changes. Some of these things are beneficial to policyholders, some may hurt premium rates. In this video,&nbsp; we talk about private flood insurance companies and discuss what conditional flood insurance renewal is.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-conditional-renewal" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/Y4B6iY1ko4uZLnKGPYGmW6.jpg" alt="What is Conditional Renewal?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;"><a href="https://floodinformation.floodinsuranceguru.com/knowledge/what-is-private-flood-insurance">Private flood insurance</a> has been going through noticeable changes. Some of these things are beneficial to policyholders, some may hurt premium rates. In this video,&nbsp; we talk about private flood insurance companies and discuss what conditional flood insurance renewal is.</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fwhat-is-conditional-renewal&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Private Flood Insurance Tue, 12 Jul 2022 20:44:19 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/what-is-conditional-renewal 2022-07-12T20:44:19Z The Truth About Private Flood Insurance: Admitted and Non Admitted Carriers https://www.floodinsuranceguru.com/floodvideoblog/the-truth-about-private-flood-insurance-admitted-and-non-admitted-carriers <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/the-truth-about-private-flood-insurance-admitted-and-non-admitted-carriers" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/YZKB7FKbXyk4sMSyzdRmru.jpg" alt="The Truth About Private Flood Insurance: Admitted and Non Admitted Carriers" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p>Private flood insurance can be complicated but it doesn't have to be.&nbsp;</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/the-truth-about-private-flood-insurance-admitted-and-non-admitted-carriers" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/YZKB7FKbXyk4sMSyzdRmru.jpg" alt="The Truth About Private Flood Insurance: Admitted and Non Admitted Carriers" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p>Private flood insurance can be complicated but it doesn't have to be.&nbsp;</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fthe-truth-about-private-flood-insurance-admitted-and-non-admitted-carriers&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> flood claims non admitted flood insurance admitted flood insurance flood insurance st louis mo Wed, 15 Jun 2022 05:02:18 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/the-truth-about-private-flood-insurance-admitted-and-non-admitted-carriers 2022-06-15T05:02:18Z Are Basements Covered By Flood Insurance? https://www.floodinsuranceguru.com/floodvideoblog/are-basements-covered-by-flood-insurance <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/are-basements-covered-by-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/VoadkMYGH6sPZZbW9hwd9V.jpg" alt="Are Basements Covered By Flood Insurance?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p>Time and time again we have seen property owners disappointed when they try to file a flood insurance claim for a basement.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/are-basements-covered-by-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/VoadkMYGH6sPZZbW9hwd9V.jpg" alt="Are Basements Covered By Flood Insurance?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p>Time and time again we have seen property owners disappointed when they try to file a flood insurance claim for a basement.</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fare-basements-covered-by-flood-insurance&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> flood insurance for basements Covering a basement against flooding Are basements covered by flood insurance Tue, 14 Jun 2022 05:31:34 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/are-basements-covered-by-flood-insurance 2022-06-14T05:31:34Z How Do I get Flood Insurance in Flood Zone AE? https://www.floodinsuranceguru.com/floodvideoblog/what-is-a-flood-zone-ae <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-a-flood-zone-ae" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/KWJu1jf3TKU-SD.jpg" alt="The Flood Insurance Guru | YouTube | What is Flood Zone AE?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;">In today's video, we'll talk about one of the zones where flooding can really hurt and understand what flood zone AE.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-a-flood-zone-ae" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/KWJu1jf3TKU-SD.jpg" alt="The Flood Insurance Guru | YouTube | What is Flood Zone AE?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;">In today's video, we'll talk about one of the zones where flooding can really hurt and understand what flood zone AE.</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fwhat-is-a-flood-zone-ae&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Insurance agents Flood Zones flood insurance flood zone ae flood zone determinations Loan Officers realtors investors property owners all states all regions Thu, 26 May 2022 02:52:19 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/what-is-a-flood-zone-ae 2022-05-26T02:52:19Z Alabama Property Disclosure Laws and Flood Insurance https://www.floodinsuranceguru.com/floodvideoblog/alabama-property-disclosure-laws-and-flood-insurance <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/alabama-property-disclosure-laws-and-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/CjXuPRHTYtvbnD3Nhpw7Sn.jpg" alt="Alabama Property Disclosure Laws and Flood Insurance" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 540px; min-width: 256px; display: block; margin: auto; max-height: 303px;"> <div class="hs-embed-content-wrapper"> </div> </div> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/alabama-property-disclosure-laws-and-flood-insurance" title="" class="hs-featured-image-link"> <img src="https://play.vidyard.com/CjXuPRHTYtvbnD3Nhpw7Sn.jpg" alt="Alabama Property Disclosure Laws and Flood Insurance" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 540px; min-width: 256px; display: block; margin: auto; max-height: 303px;"> <div class="hs-embed-content-wrapper"> </div> </div> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Falabama-property-disclosure-laws-and-flood-insurance&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Buyer Beware States Alabama Property Disclosure Laws Alabama Flooded Properties Tue, 12 Apr 2022 04:34:42 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/alabama-property-disclosure-laws-and-flood-insurance 2022-04-12T04:34:42Z Do You Need Excess Flood Insurance On Your Columbus Ohio Property? https://www.floodinsuranceguru.com/floodvideoblog/do-you-need-excess-flood-insurance-in-your-columbus-ohio-property <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/do-you-need-excess-flood-insurance-in-your-columbus-ohio-property" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Apr-07-2022-06-52-39-80-PM.png" alt="Do You Need Excess Flood Insurance in Your Columbus Ohio Property?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;">Ohio is facing an increased risk of flooding as we move deeper into the spring season. This means properties in the state's central areas like Columbus, Ohio.</p> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/do-you-need-excess-flood-insurance-in-your-columbus-ohio-property" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Apr-07-2022-06-52-39-80-PM.png" alt="Do You Need Excess Flood Insurance in Your Columbus Ohio Property?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p style="font-size: 20px;">Ohio is facing an increased risk of flooding as we move deeper into the spring season. This means properties in the state's central areas like Columbus, Ohio.</p> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fdo-you-need-excess-flood-insurance-in-your-columbus-ohio-property&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> NFIP Commercial Flood Insurance Insurance agents Private Flood Insurance FEMA national flood insurance program excess flood insurance Loan Officers cancellation reasons realtors investors property owners residential flood insurance Midwest Region Ohio Columbus Ohio Thu, 07 Apr 2022 18:58:53 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/do-you-need-excess-flood-insurance-in-your-columbus-ohio-property 2022-04-07T18:58:53Z Does Replacing Your Sump Pump Through Flood Claims Save You Money? https://www.floodinsuranceguru.com/floodvideoblog/does-replacing-your-sump-pump-through-flood-claims-save-you-money <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/does-replacing-your-sump-pump-through-flood-claims-save-you-money" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Mar-31-2022-05-53-09-16-PM.png" alt="Does Replacing Your Sump Pump Through Flood Claims Save You Money?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div> <p style="font-size: 20px;">The whole country is moving out of the winter season which means a lot of melting snow for most areas in the United States. This is where your sump pump can be very helpful in reducing damage to your home...</p> <p style="font-size: 20px;">But what if this gets flooded and needs to be replaced?</p> <p style="font-size: 20px;">In this article, we want to talk about how using flood insurance to replace a sump pump could cost you way more than a sump pump alone, how flood impacts a property, and how this impacts future premiums as well.</p> <h2 style="font-size: 36px; text-align: center;">What Sump Pumps Are</h2> <p style="font-size: 20px;">First, we want to cover what sump pumps are for us to be able to get everyone up to speed on the things we'll cover in this article.</p> <p style="font-size: 20px;">A sump is a low space <span style="font-weight: bold;">that collects any type of water that comes from the soil</span>. It's like when you're making coffee where the sump itself is the jar or mug and the soil around it acts like the coffee filter that allows the water to go through.</p> <p style="font-size: 20px;">This water generally is the excess water that goes into the ground during the heavy rain — sometimes it could be due to snowmelt — so instead of it oversaturating your basement causing flooding, the sump collects all of this.</p> <p style="font-size: 20px;">Now, what happens when there's too much water in that hole? That's where the sump pump comes in. The sump pump is a device that's connected to a lot of pipes that send all that collected water into the main water drainage in your area.&nbsp;</p> <p style="font-size: 20px;">So what if there was a flood and your sump pump got damaged?</p> <h2 style="font-size: 36px; text-align: center;">Why You Should NOT File a Flood Claim</h2> <p style="font-size: 20px;">The basic response to flood damage or flood loss is to file a flood insurance claim from your flood policy, right? It's the only thing you can do to really manage the costs of whatever repairs you'd need.</p> <p style="font-size: 20px;">However, it's a very different story when it comes to sump pumps.</p> <p style="font-size: 20px;"><em>— But Chris, filing a flood claim will get me coverage for the repairs and reinstallation of a new sump pump which can protect me long-term!</em></p> <p style="font-size: 20px;"><em></em></p> <p style="font-size: 20px;">That is true, but only to an extent that your property is <span style="font-weight: bold;">only protected from damage, but your wallet, not so much</span>. Think of it this way, the <span style="font-weight: bold;">current costs of installing a new sump pump range from $1,000 to $2,500</span>. This includes the device itself and the labor that goes into it.</p> <p style="font-size: 20px;">Generally, when it comes to flood insurance, <span style="font-weight: bold;">deductibles start at $1,000</span>. So when you file a flood claim, already, you might not be breaking even with what you're getting from your flood insurance.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">Once you file that flood claim for a small repair or loss and you're doing a private flood insurance policy, <span style="font-weight: bold;">the insurance company might non-renew your policy over this claim</span>. That's already bad as it is and the same goes for federal flood insurance.</p> <h2 style="font-size: 36px; text-align: center;">Risk Rating 2.0 &amp; Flood Claims</h2> <p style="font-size: 20px;">The <a href="https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-coverages-with-nfip">National Flood Insurance Program (NFIP)</a> has moved into what's called <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-nfip-risk-rating-2.0"><span style="font-weight: bold;"><em>Risk Rating 2.0</em></span></a>. Flood claims directly impact your premium rates here. This means that <span style="font-weight: bold;">homeowners will be assessed on the overall flood risk</span> that their property presents and, yes, this includes looking into your flood claims history.</p> <p style="font-size: 20px;">You see, the <a href="https://www.floodinsuranceguru.com/floodgurupodcast/nfip-risk-rating-2.0-claim-variable"><span style="font-weight: bold;">claims variable</span></a> is now a big thing with Risk Rating 2.0 since this is like a scoring system that depends on how many flood insurance claims you've made. Since these claims don't really expire and stay for the life of the property, <span style="font-weight: bold;">filing a flood claim to get your sump pump fixed can hurt you more long-term.</span></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">The Risk Rating 2.0 mostly caused an increase in premium rates across all states. Even if you're just paying for a $500 premium, after you file that <em>sump pump flood claim</em>, <span style="font-weight: bold;">you will see an increase twice, if not thrice that amount</span>.</p> <p style="font-size: 20px;">It may sound great to have your flood insurance cover the costs to repair your sump pump, but as a homeowner, you should look at the financial impacts this may cause you. Filing a claim for a sump pump alone can also hurt your chances of selling the home due to expensive flood insurance costs.</p> <p style="font-size: 20px;">This is why we only recommend filing a claim<span style="font-weight: bold;">if the flood damage to your property is more than $10,000. </span><span style="font-weight: normal;">In the end, you may be able to save a few hundred bucks with this flood claim, but each year, you will be paying more for your flood insurance premium.</span></p> <p style="font-size: 20px;">If you got questions on how to save flood insurance costs, when to file a flood claim, or anything related to floods and insurance, click below to go to our Flood Learning Center:</p> <p style="font-size: 20px;"><a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=32aec227-2248-46f8-b180-d78d2bf87a97&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="Flood Insurance Guru | Service | Knowledge Base" height="289" width="512" src="https://no-cache.hubspot.com/cta/default/4691183/32aec227-2248-46f8-b180-d78d2bf87a97.png" align="middle"></a></p> <p style="font-size: 20px;">You can also click below to call us:</p> <p style="font-size: 20px;"><a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=cd8e4e83-e506-4942-8ce1-18a7dc915e1d&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="The Flood Insurance Guru | 2054514294" height="331" width="360" src="https://no-cache.hubspot.com/cta/default/4691183/cd8e4e83-e506-4942-8ce1-18a7dc915e1d.png" align="middle"></a></p> <p style="font-size: 20px;"><span>Remember, we have an educational background in flood mitigation which lets us help you understand your flood risks, flood insurance, real estate selling and buying, and mitigating your property's value long-term.</span></p> </div> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/does-replacing-your-sump-pump-through-flood-claims-save-you-money" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Mar-31-2022-05-53-09-16-PM.png" alt="Does Replacing Your Sump Pump Through Flood Claims Save You Money?" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div> <p style="font-size: 20px;">The whole country is moving out of the winter season which means a lot of melting snow for most areas in the United States. This is where your sump pump can be very helpful in reducing damage to your home...</p> <p style="font-size: 20px;">But what if this gets flooded and needs to be replaced?</p> <p style="font-size: 20px;">In this article, we want to talk about how using flood insurance to replace a sump pump could cost you way more than a sump pump alone, how flood impacts a property, and how this impacts future premiums as well.</p> <h2 style="font-size: 36px; text-align: center;">What Sump Pumps Are</h2> <p style="font-size: 20px;">First, we want to cover what sump pumps are for us to be able to get everyone up to speed on the things we'll cover in this article.</p> <p style="font-size: 20px;">A sump is a low space <span style="font-weight: bold;">that collects any type of water that comes from the soil</span>. It's like when you're making coffee where the sump itself is the jar or mug and the soil around it acts like the coffee filter that allows the water to go through.</p> <p style="font-size: 20px;">This water generally is the excess water that goes into the ground during the heavy rain — sometimes it could be due to snowmelt — so instead of it oversaturating your basement causing flooding, the sump collects all of this.</p> <p style="font-size: 20px;">Now, what happens when there's too much water in that hole? That's where the sump pump comes in. The sump pump is a device that's connected to a lot of pipes that send all that collected water into the main water drainage in your area.&nbsp;</p> <p style="font-size: 20px;">So what if there was a flood and your sump pump got damaged?</p> <h2 style="font-size: 36px; text-align: center;">Why You Should NOT File a Flood Claim</h2> <p style="font-size: 20px;">The basic response to flood damage or flood loss is to file a flood insurance claim from your flood policy, right? It's the only thing you can do to really manage the costs of whatever repairs you'd need.</p> <p style="font-size: 20px;">However, it's a very different story when it comes to sump pumps.</p> <p style="font-size: 20px;"><em>— But Chris, filing a flood claim will get me coverage for the repairs and reinstallation of a new sump pump which can protect me long-term!</em></p> <p style="font-size: 20px;"><em></em></p> <p style="font-size: 20px;">That is true, but only to an extent that your property is <span style="font-weight: bold;">only protected from damage, but your wallet, not so much</span>. Think of it this way, the <span style="font-weight: bold;">current costs of installing a new sump pump range from $1,000 to $2,500</span>. This includes the device itself and the labor that goes into it.</p> <p style="font-size: 20px;">Generally, when it comes to flood insurance, <span style="font-weight: bold;">deductibles start at $1,000</span>. So when you file a flood claim, already, you might not be breaking even with what you're getting from your flood insurance.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;" src="http://play.vidyard.com/oEu1MteJHBmNeXpHkaT7j9.html?" width="640" height="360" frameborder="0" allowfullscreen></iframe> </div> </div> </div> <p style="font-size: 20px;">Once you file that flood claim for a small repair or loss and you're doing a private flood insurance policy, <span style="font-weight: bold;">the insurance company might non-renew your policy over this claim</span>. That's already bad as it is and the same goes for federal flood insurance.</p> <h2 style="font-size: 36px; text-align: center;">Risk Rating 2.0 &amp; Flood Claims</h2> <p style="font-size: 20px;">The <a href="https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-coverages-with-nfip">National Flood Insurance Program (NFIP)</a> has moved into what's called <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-nfip-risk-rating-2.0"><span style="font-weight: bold;"><em>Risk Rating 2.0</em></span></a>. Flood claims directly impact your premium rates here. This means that <span style="font-weight: bold;">homeowners will be assessed on the overall flood risk</span> that their property presents and, yes, this includes looking into your flood claims history.</p> <p style="font-size: 20px;">You see, the <a href="https://www.floodinsuranceguru.com/floodgurupodcast/nfip-risk-rating-2.0-claim-variable"><span style="font-weight: bold;">claims variable</span></a> is now a big thing with Risk Rating 2.0 since this is like a scoring system that depends on how many flood insurance claims you've made. Since these claims don't really expire and stay for the life of the property, <span style="font-weight: bold;">filing a flood claim to get your sump pump fixed can hurt you more long-term.</span></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;" src="http://play.vidyard.com/bDhWjyai2ZD3pti6n18oDu.html?" width="640" height="360" frameborder="0" allowfullscreen></iframe> </div> </div> </div> <p style="font-size: 20px;">The Risk Rating 2.0 mostly caused an increase in premium rates across all states. Even if you're just paying for a $500 premium, after you file that <em>sump pump flood claim</em>, <span style="font-weight: bold;">you will see an increase twice, if not thrice that amount</span>.</p> <p style="font-size: 20px;">It may sound great to have your flood insurance cover the costs to repair your sump pump, but as a homeowner, you should look at the financial impacts this may cause you. Filing a claim for a sump pump alone can also hurt your chances of selling the home due to expensive flood insurance costs.</p> <p style="font-size: 20px;">This is why we only recommend filing a claim<span style="font-weight: bold;">if the flood damage to your property is more than $10,000. </span><span style="font-weight: normal;">In the end, you may be able to save a few hundred bucks with this flood claim, but each year, you will be paying more for your flood insurance premium.</span></p> <p style="font-size: 20px;">If you got questions on how to save flood insurance costs, when to file a flood claim, or anything related to floods and insurance, click below to go to our Flood Learning Center:</p> <p style="font-size: 20px;"><a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=32aec227-2248-46f8-b180-d78d2bf87a97&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="Flood Insurance Guru | Service | Knowledge Base" height="289" width="512" src="https://no-cache.hubspot.com/cta/default/4691183/32aec227-2248-46f8-b180-d78d2bf87a97.png" align="middle"></a></p> <p style="font-size: 20px;">You can also click below to call us:</p> <p style="font-size: 20px;"><a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=cd8e4e83-e506-4942-8ce1-18a7dc915e1d&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="The Flood Insurance Guru | 2054514294" height="331" width="360" src="https://no-cache.hubspot.com/cta/default/4691183/cd8e4e83-e506-4942-8ce1-18a7dc915e1d.png" align="middle"></a></p> <p style="font-size: 20px;"><span>Remember, we have an educational background in flood mitigation which lets us help you understand your flood risks, flood insurance, real estate selling and buying, and mitigating your property's value long-term.</span></p> </div> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fdoes-replacing-your-sump-pump-through-flood-claims-save-you-money&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> NFIP Commercial Flood Insurance Insurance agents Private Flood Insurance FEMA flood insurance claims national flood insurance program flood claims Loan Officers realtors investors property owners sump pump residential flood insurance all states all regions sump pumps Wed, 06 Apr 2022 13:00:00 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/does-replacing-your-sump-pump-through-flood-claims-save-you-money 2022-04-06T13:00:00Z Flood Insurance for Birmingham Alabama Business Owners https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-for-birmingham-alabama-business-owners <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-for-birmingham-alabama-business-owners" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Apr-05-2022-07-52-38-08-PM.png" alt="Flood Insurance for Birmingham Alabama Business Owners" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div> <p style="font-size: 20px;">Birmingham is both literally and figuratively flooded with a lot of problems since the start of the year. One of the biggest culprits is the heavy rainfall that leads to flash flooding across the city and other parts of the state.</p> <p style="font-size: 20px;">We've been talking about how flood insurance helps residents recover from the flood damage caused by these events, but today, we want to focus on the impacts this has on restaurants and other local businesses in Birmingham, Alabama, and how flood insurance helps these business owners bounce back from the damages brought about by the recent flooding in the city.</p> <h2 style="font-size: 36px; text-align: center;">Birmingham Floods of '22</h2> <p style="font-size: 20px;">Just this year, Birmingham has faced a lot of flooding due to snowmelt, heavy precipitation, or a mix of both. This further adds to the data found that the flooding that Alabama's been getting significantly increased in the last 3 to 5 years compared to the last 10 to 15 years.</p> <p style="font-size: 20px;">Last month, Birmingham experienced a couple of devastating floodings after heavy rainfall that came from storms. This caused a lot of major problems like road closures, people getting stranded in their vehicles, and overall increased flood risks. We were able to cover this in <a href="https://www.floodinsuranceguru.com/blog/flood-insurance-for-alabama-storms-are-you-covered-for-this" style="font-weight: bold;">our recent blog on the Alabama floods</a><span style="font-weight: bold;">.</span></p> <p style="font-size: 20px;">This was also impacting local businesses who now have to face <span style="font-weight: bold;">unwanted temporary closing</span> because they need to still fix whatever damage these floods brought. This was one of the experiences for the people at <a href="https://www.cbs42.com/news/local/birmingham-analyzes-unusual-flood-event-businesses-clean-up/">Pies and Pints in Downtown Birmingham.</a></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">With this unprecedented flooding and the risks that this type of natural disaster can present, you might be wondering <a href="https://www.floodinsuranceguru.com/blog/march-2022-why-birmingham-alabama-keeps-flooding">why does Alabama keep on flooding?</a> More importantly, as a business owner, you want to know your game plan against flood loss for your investment and source of income.</p> <h2 style="font-size: 36px; text-align: center;">Commercial Flood Insurance for Birmingham</h2> <p style="font-size: 20px;"><span style="font-weight: bold;">Flood insurance is vital protection</span> for business owners in Birmingham Alabama. Unfortunately, many business owners are not aware of the flood insurance options that are available to them for commercial insurance coverages or what the risk of flooding is.</p> <p style="font-size: 20px;">This hurts not only your budget for your business but also the earnings you might get. So, here's where flood insurance comes in when it comes to saving you money and avoiding unnecessary losses.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">There are a few different flood insurance options available to business owners in Birmingham Alabama.</p> <p style="font-size: 20px;">The first option is a standard National Flood Insurance Program (NFIP) policy or a private flood insurance policy, both of which cover damages from flooding that occurs inside of your home or business. But how are they different?</p> <h2 style="font-size: 30px; text-align: center;">The NFIP Way</h2> <p style="font-size: 20px;">Federal flood insurance has recently overhauled the services they're providing to home and business owners across the state. This comes in the form of <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-nfip-risk-rating-2.0">the Risk Rating 2.0 program</a> which changes the overall way of <a href="http://fema.gov">Federal Emergency Management Agency's (FEMA)</a> approach to calculating flood insurance premium rates.</p> <p style="font-size: 20px;">One of the biggest things that came out of this new program — which started impacting <em>new business</em> or newly-acquired insurances in October 2021 and now will take effect across renewing policies — is that flood zones no longer matter.</p> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 1280px; max-height: 720px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">Now, we've talked about <a href="https://www.floodinsuranceguru.com/blog/flood-insurance-for-alabama-storms-are-you-covered-for-this"><span style="font-weight: bold;">why flood zones no longer matter</span></a> in Birmingham City and Alabama in general in our previous blog, but what Risk Rating 2.0 points out is that <span style="font-weight: bold;">flood zones will no longer affect your rates.</span></p> <p style="font-size: 20px;">This is because you will be rated based on the flood risks that your business is facing. A bit of a hard pill to swallow, but coastal or riverside restaurants in the community will find an increase in their premiums with Risk Rating 2.0. This is generally because one of the risk factors is your business' distance to water, so you might want to prepare for that as well.</p> <p style="font-size: 20px;">A standard National Flood Insurance Program (NFIP) policy provides <span style="font-weight: bold;">coverage for commercial properties of up to $500,000 on building coverage and $100,000 max on contents</span> (the things inside the insured building).</p> <p style="font-size: 20px;">You should keep in mind that it's best to maximize the 80% rule when buying an NFIP policy.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">FEMA and the NFIP have <span style="font-weight: bold;">a strict 30-day waiting period</span> for each policy to take effect on a property. This is a <em>good-to-know</em> since you want to really be ahead of time if you want to buy federal flood insurance.</p> <p style="font-size: 20px;">Now, what if this doesn't work for you and your business? That's totally understandable considering that a lot of money comes in and goes out when maintaining a business.</p> <p style="font-size: 20px;">You might want to look into the private flood market for your needs especially if you have a big business.</p> <h2 style="font-size: 30px; text-align: center;">The Private Flood Way</h2> <p style="font-size: 20px;">Now, one of the key similarities between the NFIP and private flood insurance is that both can provide you with enough coverage for both the premises of your business and everything inside of it. However, this comes with one important catch: <span style="text-decoration: underline;"><span style="font-weight: bold;">Private Flood doesn't have any coverage limits.</span></span></p> <p style="font-size: 20px;">This simply means that you can actually get <span style="font-weight: bold;">more than $500,000 in building coverage when buying a private flood policy</span> and the same goes for content coverage. Still, you should best practice the 80% rule when it comes to these coverages.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <p style="font-size: 20px;">Private flood also <span style="font-weight: bold;">has more flexible coverage terms</span>, this simply means that maybe you don't need $500,000 on building coverage because you're still in the start-up business, then you may choose to have that policy written for the substantial amount you need.</p> <p style="font-size: 20px;">You can also easily get excess flood insurance through what's called <strong>loss of use.&nbsp;</strong><a href="https://www.floodinsuranceguru.com/floodvideoblog/whats-loss-of-use-in-flood-insurance">Click here to read our blog on the loss of use coverage in flood insurance.</a></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> </div> </div> </div> <h2 style="font-size: 36px; text-align: center;">Business Is Good</h2> <p style="font-size: 20px;">It is important for business owners in Birmingham to have flood insurance and understand how flood insurance claims can impact you. <span style="font-weight: bold;">The right policy can help protect your business</span> from costly damages in the event of a flood and also help you easily bounce back.</p> <p style="font-size: 20px;">For more information on flood insurance options for businesses and flooding concerns, click below to go to our Flood Learning Center where we answer your flood insurance questions.</p> <a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=32aec227-2248-46f8-b180-d78d2bf87a97&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="Flood Insurance Guru | Service | Knowledge Base" height="289" width="512" src="https://no-cache.hubspot.com/cta/default/4691183/32aec227-2248-46f8-b180-d78d2bf87a97.png" align="middle"></a> </div> <div class="hs-featured-image-wrapper"> <a href="https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-for-birmingham-alabama-business-owners" title="" class="hs-featured-image-link"> <img src="https://www.floodinsuranceguru.com/hubfs/image-png-Apr-05-2022-07-52-38-08-PM.png" alt="Flood Insurance for Birmingham Alabama Business Owners" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <div> <p style="font-size: 20px;">Birmingham is both literally and figuratively flooded with a lot of problems since the start of the year. One of the biggest culprits is the heavy rainfall that leads to flash flooding across the city and other parts of the state.</p> <p style="font-size: 20px;">We've been talking about how flood insurance helps residents recover from the flood damage caused by these events, but today, we want to focus on the impacts this has on restaurants and other local businesses in Birmingham, Alabama, and how flood insurance helps these business owners bounce back from the damages brought about by the recent flooding in the city.</p> <h2 style="font-size: 36px; text-align: center;">Birmingham Floods of '22</h2> <p style="font-size: 20px;">Just this year, Birmingham has faced a lot of flooding due to snowmelt, heavy precipitation, or a mix of both. This further adds to the data found that the flooding that Alabama's been getting significantly increased in the last 3 to 5 years compared to the last 10 to 15 years.</p> <p style="font-size: 20px;">Last month, Birmingham experienced a couple of devastating floodings after heavy rainfall that came from storms. This caused a lot of major problems like road closures, people getting stranded in their vehicles, and overall increased flood risks. We were able to cover this in <a href="https://www.floodinsuranceguru.com/blog/flood-insurance-for-alabama-storms-are-you-covered-for-this" style="font-weight: bold;">our recent blog on the Alabama floods</a><span style="font-weight: bold;">.</span></p> <p style="font-size: 20px;">This was also impacting local businesses who now have to face <span style="font-weight: bold;">unwanted temporary closing</span> because they need to still fix whatever damage these floods brought. This was one of the experiences for the people at <a href="https://www.cbs42.com/news/local/birmingham-analyzes-unusual-flood-event-businesses-clean-up/">Pies and Pints in Downtown Birmingham.</a></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe width="1280" height="720" src="https://www.youtube.com/embed/zXS-c9R9Pes" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <p style="font-size: 20px;">With this unprecedented flooding and the risks that this type of natural disaster can present, you might be wondering <a href="https://www.floodinsuranceguru.com/blog/march-2022-why-birmingham-alabama-keeps-flooding">why does Alabama keep on flooding?</a> More importantly, as a business owner, you want to know your game plan against flood loss for your investment and source of income.</p> <h2 style="font-size: 36px; text-align: center;">Commercial Flood Insurance for Birmingham</h2> <p style="font-size: 20px;"><span style="font-weight: bold;">Flood insurance is vital protection</span> for business owners in Birmingham Alabama. Unfortunately, many business owners are not aware of the flood insurance options that are available to them for commercial insurance coverages or what the risk of flooding is.</p> <p style="font-size: 20px;">This hurts not only your budget for your business but also the earnings you might get. So, here's where flood insurance comes in when it comes to saving you money and avoiding unnecessary losses.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" src="http://play.vidyard.com/KVD1fR3hWNahFXpBfrhHL5.html?" width="640" height="360" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <p style="font-size: 20px;">There are a few different flood insurance options available to business owners in Birmingham Alabama.</p> <p style="font-size: 20px;">The first option is a standard National Flood Insurance Program (NFIP) policy or a private flood insurance policy, both of which cover damages from flooding that occurs inside of your home or business. But how are they different?</p> <h2 style="font-size: 30px; text-align: center;">The NFIP Way</h2> <p style="font-size: 20px;">Federal flood insurance has recently overhauled the services they're providing to home and business owners across the state. This comes in the form of <a href="https://www.floodinsuranceguru.com/floodvideoblog/what-is-nfip-risk-rating-2.0">the Risk Rating 2.0 program</a> which changes the overall way of <a href="http://fema.gov">Federal Emergency Management Agency's (FEMA)</a> approach to calculating flood insurance premium rates.</p> <p style="font-size: 20px;">One of the biggest things that came out of this new program — which started impacting <em>new business</em> or newly-acquired insurances in October 2021 and now will take effect across renewing policies — is that flood zones no longer matter.</p> <div class="hs-embed-wrapper" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; max-width: 1280px; max-height: 720px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe width="1280" height="720" src="https://www.youtube.com/embed/-rYI_f8chK4" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <p style="font-size: 20px;">Now, we've talked about <a href="https://www.floodinsuranceguru.com/blog/flood-insurance-for-alabama-storms-are-you-covered-for-this"><span style="font-weight: bold;">why flood zones no longer matter</span></a> in Birmingham City and Alabama in general in our previous blog, but what Risk Rating 2.0 points out is that <span style="font-weight: bold;">flood zones will no longer affect your rates.</span></p> <p style="font-size: 20px;">This is because you will be rated based on the flood risks that your business is facing. A bit of a hard pill to swallow, but coastal or riverside restaurants in the community will find an increase in their premiums with Risk Rating 2.0. This is generally because one of the risk factors is your business' distance to water, so you might want to prepare for that as well.</p> <p style="font-size: 20px;">A standard National Flood Insurance Program (NFIP) policy provides <span style="font-weight: bold;">coverage for commercial properties of up to $500,000 on building coverage and $100,000 max on contents</span> (the things inside the insured building).</p> <p style="font-size: 20px;">You should keep in mind that it's best to maximize the 80% rule when buying an NFIP policy.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" src="http://play.vidyard.com/2HsRFbnBscxJtGGfuNFpoT.html?" width="640" height="360" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <p style="font-size: 20px;">FEMA and the NFIP have <span style="font-weight: bold;">a strict 30-day waiting period</span> for each policy to take effect on a property. This is a <em>good-to-know</em> since you want to really be ahead of time if you want to buy federal flood insurance.</p> <p style="font-size: 20px;">Now, what if this doesn't work for you and your business? That's totally understandable considering that a lot of money comes in and goes out when maintaining a business.</p> <p style="font-size: 20px;">You might want to look into the private flood market for your needs especially if you have a big business.</p> <h2 style="font-size: 30px; text-align: center;">The Private Flood Way</h2> <p style="font-size: 20px;">Now, one of the key similarities between the NFIP and private flood insurance is that both can provide you with enough coverage for both the premises of your business and everything inside of it. However, this comes with one important catch: <span style="text-decoration: underline;"><span style="font-weight: bold;">Private Flood doesn't have any coverage limits.</span></span></p> <p style="font-size: 20px;">This simply means that you can actually get <span style="font-weight: bold;">more than $500,000 in building coverage when buying a private flood policy</span> and the same goes for content coverage. Still, you should best practice the 80% rule when it comes to these coverages.</p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" src="http://play.vidyard.com/Pk6f3Jz5m2idxEkMyJW3Lq.html?" width="640" height="360" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <p style="font-size: 20px;">Private flood also <span style="font-weight: bold;">has more flexible coverage terms</span>, this simply means that maybe you don't need $500,000 on building coverage because you're still in the start-up business, then you may choose to have that policy written for the substantial amount you need.</p> <p style="font-size: 20px;">You can also easily get excess flood insurance through what's called <strong>loss of use.&nbsp;</strong><a href="https://www.floodinsuranceguru.com/floodvideoblog/whats-loss-of-use-in-flood-insurance">Click here to read our blog on the loss of use coverage in flood insurance.</a></p> <div class="hs-embed-wrapper hs-fullwidth-embed" style="position: relative; overflow: hidden; width: 100%; height: auto; padding: 0px; min-width: 256px; display: block; margin: 0px auto 30px;"> <div class="hs-embed-content-wrapper"> <div style="position: relative; overflow: hidden; max-width: 100%; padding-bottom: 56.25%; margin: 0px;"> <iframe class="vidyard_iframe" src="http://play.vidyard.com/pBGMQ43cnXtn2rfTWFSd2b.html?" width="640" height="360" frameborder="0" allowfullscreen style="position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: none;"></iframe> </div> </div> </div> <h2 style="font-size: 36px; text-align: center;">Business Is Good</h2> <p style="font-size: 20px;">It is important for business owners in Birmingham to have flood insurance and understand how flood insurance claims can impact you. <span style="font-weight: bold;">The right policy can help protect your business</span> from costly damages in the event of a flood and also help you easily bounce back.</p> <p style="font-size: 20px;">For more information on flood insurance options for businesses and flooding concerns, click below to go to our Flood Learning Center where we answer your flood insurance questions.</p> <a class="cta_button" href="https://www.floodinsuranceguru.com/cs/ci/?pg=32aec227-2248-46f8-b180-d78d2bf87a97&amp;pid=4691183&amp;ecid=&amp;hseid=&amp;hsic="><img class="hs-cta-img " style="border-width: 0px; /*hs-extra-styles*/; margin: 0 auto; display: block; margin-top: 20px; margin-bottom: 20px" alt="Flood Insurance Guru | Service | Knowledge Base" height="289" width="512" src="https://no-cache.hubspot.com/cta/default/4691183/32aec227-2248-46f8-b180-d78d2bf87a97.png" align="middle"></a> </div> <img src="https://track.hubspot.com/__ptq.gif?a=4691183&amp;k=14&amp;r=https%3A%2F%2Fwww.floodinsuranceguru.com%2Ffloodvideoblog%2Fflood-insurance-for-birmingham-alabama-business-owners&amp;bu=https%253A%252F%252Fwww.floodinsuranceguru.com%252Ffloodvideoblog&amp;bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; "> Birmingham Alabama Commercial Flood Insurance Insurance agents Loan Officers realtors investors property owners Southeastern Region Alabama Tue, 05 Apr 2022 19:54:53 GMT flood@communityfirstagency.com (Chris Greene) https://www.floodinsuranceguru.com/floodvideoblog/flood-insurance-for-birmingham-alabama-business-owners 2022-04-05T19:54:53Z