How Commercial Flood Insurance May Save Your Business

You wouldn't think that something like commercial flood insurance would be very important if you live 100 miles from the nearest water. However, if you are not carrying some sort of commercial flood insurance for your business, you could be paying for it in other ways. Floods can happen anytime, anywhere. No matter where you live in the country, you can be susceptible to a flood of some kind. Most businesses are insured against a lot of different things - fire, theft, injury, snow damage, wind damage, even ice damage. Unfortunately, in the even of a flood your insurance policies will not be able to help you.

Flood Insurance Important to Continued Business
What would happen if your warehouse, offices, or storefront were flooded and most of your building was damaged? Would you be able to pick up and move on? Would it put you out of business? The sad reality is that many businesses would be terribly affected in the event of a flood or lost merchandise.

National Flood Insurance Program
The National Flood Insurance Program was created because law makers knew that something had to be done to protect citizens in the event of flood. But also to be able to protect them from overzealous insurance companies looking to make money by offering sky high premiums. Today, the cost of flood insurance is very affordable for any type of business to even an individual operation.

Different Commercial Flood Insurance Coverages
Commercial flood insurance exists to keep you in business. Some businesses have to start all over again and wait until they can expand again.

Building Replacement
Building replacement covers anything that has to do with the building. If it was affected by the flood waters, you will be compensated for the damage.

Reimbursement for Loss of Merchandise
If your warehouse if flooded, and everything in the building is counted as a loss, without flood insurance you are going to have to take that loss. However, with the flood insurance you are covered for the total cost of all the merchandise. This coverage is extended to both service providers and store front businesses.

Clean up Services
When a flood recedes, there is debris that must be cleaned up. The clean up process can be very costly. Commercial flood insurance policies typically include the cost in the policy.

Commercial flood insurance is a very sound investment in your businesses future in the event of an unforeseen catastrophe like a flood.

blog comments powered by Disqus