The NFIP General Property Form F-123 oers commercial policyholders coverage for:
  • Building Property up to $500,000
  • Personal Property up to $500,000
For businesses, personal property refers to the contents of the business and will include stock as defined in the policy. The NFIP encourages business owners to purchase both types of coverage. A lender might require that a certain amount of flood insurance coverage is purchased.
For “non-residential” (income generating) business and “other non-residential (non-income generating or not-for-profit) business, the building and contents are always actual cash value.
To learn more about structures covered under the NFIP Standard Flood Insurance Policy General Property Form (#F-123), visit: NFIP_GenPropForm_F123