All You Need To Know About Business Flood Insurance

Floods represent a significant risk to any business or home – whether you’re on the coast or in a land-locked city. The truth is that all 50 states have experienced recent floods, and the United States government estimates the average property damage due to flooding to be over $3.5 billion annually.

With an average commercial flood insurance claim totaling around $89,000 over the past five years, it’s unsurprising – yet alarming – that at least one in four businesses that close after a natural disaster never reopen.

What usually causes floods?

So, how do you protect yourself and your business from the threat of flood damage? Let’s start by looking at how floods typically get started:

  • Storm surges: Characteristically in hurricane-prone areas
  • Flash flooding: Caused by periods of intense rainfall
  • Mudslides: Derived from heavy rain on a hill or mountainside
  • Snowmelt: Occurs when the frozen ground is unable to absorb excess water
  • Ice jams: Forms when an ice chunk in flowing water blocks passageways to cause overflow
  • Urban development: New construction and/or ground paving that alters the topography by not allowing proper drainage

Doesn’t my current general policy cover flood damage?

Here’s the kicker: a general policy (like a business owners insurance policy) will typically not cover flood damage. This is one of the biggest misunderstandings about general policies and flood protection. If your business is located in a high-risk flood zone, you are legally required to purchase a separate flood insurance policy, provided you have a mortgage from a federally regulated or insured lender.

Most communities in the United States can obtain flood insurance coverage through the National Flood Insurance Program (NFIP), which covers all floods discussed above. To ensure fair pricing, every commercial flood insurance agent answers to this government agency. This means that while flood insurance is backed by the government, it is sold to consumers through private insurers – like Acentria Insurance!

Who should purchase flood insurance?

The NFIP uses two main standards, as well as several sub-categories, to both categorize a company’s risk for flooding and determine its premiums.

Moderate-to-low-risk buildings (Zones B, C and X): These buildings are either located outside the one percent annual chance floodplain or have less than one percent annual chance of sheet-flow flooding (where average depths are less than one foot). Buildings in these areas also might qualify if there is less than one percent chance of stream flooding (when the contributing drainage area is less than one square mile or is protected by levees).

High-risk buildings (Zones A and V): These buildings are located within a certain floodplain distance from a river, lake or stream. Zone V buildings sit within a minimum distance from the coast, exposing them to ocean-related natural disasters.

It’s important to note that although your building may be classified as low-risk, it doesn’t mean you’re safe from the dangers of flooding: the NFIP reports that low-risk communities represent 1/3 of all paid annual claims. Non-water-related events, such as new land development that changes runoff patterns, make lower-risk communities more suspensible to flood damage.

See a complete list of sub-categories and determine your own flood zone.

What does flood insurance cover?

There are two types of commercial building flood insurance coverage, and policyholders can opt to buy one or both.

Commercial Contents: Covers inventory, merchandise, machinery and any other contents inside your business up to $500,000

Commercial Building: Covers your company’s building and contents up to $500,000 each. Note: if your company does not own the building, the NFIP will cover up to 10 percent of flood-related improvements made to the space.

In addition to these two types of building flood insurance coverage, the NFIP also covers debris removal during the flood clean-up process. Businesses that take steps to protect against or prevent flood damages may be eligible for lower rates, too.

Learn more about how to protect your business against the risk of flood damages.

How much is flood insurance?

Insurers determine flood insurance premium costs based on several factors, such as:

  • Your building’s age, height and occupancy
  • Your company’s location within the building (first floor versus penthouse)
  • The location of the lowest floor in relation to the elevation requirement on the flood map (only applicable to newer buildings)
  • Your chosen deductible and amount of building and contents coverage

If you are located in a low-risk area, you are eligible for the Preferred Risk Policy, which would cover your building (as well as its contents) for a few hundred dollars a year. We advise lower-risk clients to capitalize on this cheaper rate – even if they think a flood is unlikely in their area – because the out-of-pocket premiums are minimal compared to the potential cost of flood damages.

Remember: while federal disaster assistance is available to flood victims, it is usually in the form of a loan that must be paid back with interest. For example, if you received a $50,000 federal loan at four percent interest, your monthly payment would be around $240.

Now, let’s see how your finances would look if you had purchased flood insurance coverage: a $100,000 flood insurance premium could cost your company less than $100 per month.

Ask yourself: which check would you rather write? And how much do you want to save?

OK, I’m in: How Do I Get Started?

All Acentria Insurance agents are well-versed in flood insurance coverage and can craft a customized policy to fit your business needs.

Reach out to learn how you can start – or extend – your flood insurance coverage to keep your business safe and running, no matter what happens.


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Rob Wagner

Executive Vice President | Director of Sales, Southeast Region

With over 15 years of insurance industry experience, Rob focuses on growing organic growth throughout the entire Southeast region for both Acentria Insurance and Foundation Risk Partners. Working alongside both executive leadership and territory sales leaders, Rob is instrumental in producer training, increasing retention and expanding our organizational footprint.

As a self-proclaimed Army Brat, he was born in Fort Benning, GA, but has moved 27 times and resided in 40 different houses… all before college! His father proudly served our country for 28 years! As a graduate of Florida State University with a degree in Business Management, Rob also holds an MBA from Stetson University. A producer at heart, he specializes in large property, senior living, management liability and workers’ compensation. He enjoys meeting new team members and finds his personal success in seeing producers succeed.

In his free time, he enjoys spending time with his wife of 22 years and their two daughters. Together they enjoy boating, offshore fishing and exercising.

Mike Freeman

Mergers & Acquisitions

Leading the Acentria Mergers & Acquisitions team, Mike works with those agency principals and leaders who are interested in furthering a potential partnership with Acentria Insurance.  With over 35 years of finance and insurance experience, Mike and his team showcase the various benefits of partnering with Acentria. He works with principals through the initial phases to evaluate agency operations, books of business as well as planning and implementing fully comprehensive migration and implementation plans. He served 25 years in the banking industry in various executive-level positions transitioning to insurance in 2011 as Chief Financial Officer for Acentria Insurance. In 2017, Acentria Insurance partnered with Foundation Risk Partners where his major focus became leading Acentria Insurance’s mergers and acquisitions team.  

Mike is a graduate of Auburn University. He is dedicated to serving his community having held numerous leadership positions including Chairman for the American Heart Association; Chairman Mental Health Association; Chairman Destin Chamber of Commerce and Board Member for United Way Okaloosa-Walton Counties. Mike is a 27-year resident of Destin, FL and enjoys spending time with his wife of 35 years, Yvonne and their two adult children and their families.

Jenny Cirioni

Vice President, Operations
Northeast, Florida

Todd Lawrence

Executive Vice President
Southeast Florida

Rob Wagner

Executive Vice President
Southwest Florida Region

Alan Florez

Executive Vice President, National Sales

Alan leads new business growth strategies and expansion, guides the development of resources and training for Sales Producers and their partnerships with Carriers. With over 15 years of industry experience, Alan also leads the Acentria Public Risk divisions working with municipalities and government entities for their coverage needs. He was appointed to the Halifax Health Board of Commissioners December 2020 and also serves as an Executive Committee member for our parent company, Foundation Risk Partners.

Previously, Alan served as Governor Jeb Bush’s Deputy Director of Legislative Affairs and Special Assistant. He is a former member of the University of Central Florida Board of Trustees and currently volunteers his time with the Florida Council of 100, Futures Foundation of Volusia County Schools and the Community Foundation of Flagler and Volusia. Alan holds a bachelor’s degree in Political Science from the University of Central Florida.

Anne Kraus

Senior Vice President
Commercial Lines Operations

Teresa Fillmon

Vice President
Small Business Unit

Alex Doberstein

Vice President
Benefits Resource Leader

Eric Austin

Operations Lead
Port St. Lucie & West Palm Beach

Luke Wolkers

Executive Vice President
Employee Benefits

Chris Tolland

Executive Vice President
Northeast Florida Sales

Brian Stanton

Executive Vice President
Southeast Florida

Nathan Marks

Executive Vice President
Northwest Florida

Jason Cruse

Executive Vice President
Central Florida Sales

Jackie Shaw

Senior Vice President
Agency Operations

Jessica Parkhurst

Senior Vice President
Marketing & Branding

Doreen Castro

Senior Vice President
Personal Lines Operations

Kendall McEachern


Kendall was a fundamental part of Acentria Insurance. As a co-founder, he brought more than 30 years of industry expertise to Acentria, helping transform the organization into a leading insurance provider. Beloved by team members, carrier partners and clients, he oversaw more than 400,000 insured multi-family units with property values greater than $22 billion, and over four million square feet of commercial office space and real estate buildings. Kendall has received numerous industry awards to include being recognized as a National Top Producer and Agent of the Year by both Insurance Business America and Insurance Journal. Away from the office, he served as chairman for the American Heart Association, actively participated in his church and golfing, watching sports and spending time with his family. Kendall passed away in January of 2021, leaving a lasting legacy on Acentria’s culture, success, industry-wide reputation – and on all of us fortunate to have worked alongside him.

Mary Lawless

President & Chief Operating Officer

As President and Chief Operating Officer, Mary brings over three decades of industry expertise to Acentria Insurance. With a strong focus on Mergers & Acquisitions, Mary is passionate about partnering with new agencies and leaders to continue the overall upward growth of Acentria. She works in conjunction with the CEO to lead and deliver specialized sales products, services and industry leading capabilities while implementing business and sales strategies to the Acentria sales team and carrier partners. Mary has direct oversight of all operational leaders throughout the entire organizational footprint and is responsible for operational financials and budgets.

She empowers her team members and because of it, is well respected by her peers and those she leads. Since her time with Acentria, Mary’s leadership has contributed to the agency’s exponential growth from 15 to well over 50 locations, increasing employment to over 700 team members, across the southeastern United States. Due to her leadership and contributions to the insurance industry, she has been nationally recognized as one of Insurance Business America magazine’s Elite Women and serves as a valuable member on the Executive Committee for Foundation Risk Partners, Acentria’s parent company. Prior to joining Acentria Insurance, Mary led operations for another national broker. Throughout her tenure, she has held a variety of management positions in Personal Lines, Select Business and Employee Benefits. Mary specializes in agency operations, partnerships and acquisitions and is truly passionate about developing team members to become great leaders.

When not shaping the future industry leaders at Acentria Insurance, Mary enjoys traveling and spending time with her husband, Pat and their family and friends.

Mitch Weinstein

Partner & Co-Founder

As partner of Acentria Insurance, Mitch plays an integral role in mergers & acquisitions. He focuses on seeking out strategic like-minded partners and agencies, across the southeastern United States, to partner and join the Acentria family.

Mitch has over 42 years of business leadership experience that ranges from law enforcement to the finance, healthcare and insurance industries. He was instrumental in developing the nation’s first “at-risk” managed care network for physical and occupational therapy serving the worker’s compensation industry. This network paved the way for a new managed care system, based on incentives.

Mitch is passionate about giving back to the youth of his community. He is an active supporter of the Boys & Girls Clubs of Polk County and believes in helping all young people reach their full potential. He is also the founder of Fallen First Reserve which is a non-profit organization dedicated to financially assisting those family members of First Responders killed in the line of duty and military members killed in action. Mitch also serves on the board for Fund the First.

Kevin Mason

Chief Executive Officer & Co-Founder

As Chief Executive Office of Acentria Insurance, Kevin focuses on developing insurance solutions that strengthen Acentria’s presence in the market and its commitment to client-relationships and exceptional service. With over 35 years of industry experience, he specializes in the overall growth of Acentria is passionate about bringing new talent to the organization both organically and through mergers and acquisitions. Through his leadership and the support of the Executive Leadership team, Acentria Insurance instills a positive corporate culture which has led the agency in being recognized as a leader within our industry as a Top 100 Workplace, Employer of Choice, Best Agency to Work For and several other national and regional accolades.

Before co-founding Acentria Insurance, Kevin served as Branch Manager for another national broker. Kevin holds the prestigious title as an Agent of the Year and five-time National Top Producer. He is also a key member of the Foundation Risk Partners Executive Committee, which is the parent company of Acentria Insurance, while also serving as the National Director for Carrier Relations. In addition, Kevin oversees the Sales Leadership Council, which encompasses sales leaders across the entire FRP footprint in an effort to develop and refine shared resources while offering producer training and development programs.

Kevin received a Bachelor’s Degree in Management from the University of West Florida. He is very active in his community and served over a decade on the Board of Directors of Destin Charity Wine Auction Foundation and remains as a trustee, which funds over 14 children’s charities along the Florida Panhandle. He is also a member of the Destin Chamber of Commerce, Community Association Institute and Florida Association of Insurance Agents. In his spare time, Kevin enjoys golfing, tennis, boating and spending time with his wife Laura, and their children.