The NFIP guidelines now require building policies purchased by tenants to include the Building Owner as a named insured.  Wright Flood has added new questions and help text to prevent duplicate coverage and identify tenant policies through the online flood quoting tools at www.wrightflood.com.     

Only one policy can be issued for building coverage at a given property address. Building coverage can be purchased by a tenant, such as when required by a lease agreement; however, this policy must include the building owner as the named insured.

 

To insure their contents on a leased building, a tenant should purchase a separate flood insurance policy for contents only in the name of the tenant only. 

 
Check out the Snapshots on this page to view how the added questions to the flood application can help you avoid an error of duplicate policies. If you need additional information, please contact your team at the Flood Processing Center at 800-820-3242, or via Live Chat online.