loader

Does Your Business Need Flood Insurance?

Aug 29, 2019

Business Insurance

Does Your Business Need Flood Insurance?

Commercial Flood Insurance and Your Business  

An unexpected flood can severely damage your business's assets. Unless you have around $90,000 to repair the flood-damaged property, your business could benefit from obtaining a flood insurance policy. To help you determine if your business could benefit from flood coverage, read on.Flood is an excluded period under most standard commercial insurance policies. As a result, you won't receive any compensation if a flood damages your business. For this reason, many business owners choose to obtain a separate flood insurance policy to protect their property.For most businesses, flood insurance is optional. Business owners can evaluate their flood risks and then buy insurance if they choose. If a business is located in a flood zone, however, it is usually mandatory for the business owner to purchase flood insurance coverage. Most businesses who want flood insurance are able to obtain a policy through the  National Flood Insurance Program  (NFIP).There will be some businesses that have a higher risk of a flood than others. This susceptibility could be for any number of reasons, such as their location in a flood zone. However, even if your business is outside of the flood zone, it's likely that you could still benefit from having a flood insurance policy in place.The damage that a flood may cause can be severe enough to put your company partially or completely out of business for a while. Having flood insurance coverage means that you receive help to repair damage and replace the contents in the most time-efficient way, minimizing the period of time that you are out of business.When you're looking for the right  business insurance, we can help.  Contact  the experts at  Humble & Davenport Insurance today.  Our dedicated team serves Renton and the surrounding areas in Washington €” Contact us to get started!
Everything About Commercial Trucking Insurance that You Must Know
Everything About Commercial Trucking Insurance that You Must Know
The Top 5 Coverage Options for Contractors
The Top 5 Coverage Options for Contractors
Understanding the Cost of Commercial Auto Insurance
Understanding the Cost of Commercial Auto Insurance
The Ins and Outs of Home-Based Business Insurance
The Ins and Outs of Home-Based Business Insurance
Liability Car Insurance: What You Need to Know About Costs and Coverage
Liability Car Insurance: What You Need to Know About Costs and Coverage
TAP TO CALL