You don't have to live in a high-risk flood zone to be affected by a flood. Floods and flash floods can occur anywhere, even in the desert. Just an inch of water can cause damage to your property. In fact, in the U.S., flood-related losses cost people more than a billion dollars a year. Flooding can be defined as any water entering a structure from the outside, regardless of it's source (rain, burst water main, etc.).
Commercial Flood Insurance helps protect your business from the damage costs that come from floodwater. A commercial flood insurance policy will not only protect the location of your business but also the physical contents and assets. A commercial flood insurance policy is designed to protect your business if your floors, walls, ceilings, equipment and fixtures as well as furniture, inventory and business property sustain floodwater damage.
If your business property insurance doesn’t cover flood damage – and most don’t – you should consider adding a commercial flood insurance policy. Start with a commercial flood insurance quote. Even if you live in an area that doesn’t flood, you’ll need a policy if:
Flood insurance is written as a supplement to the property insurance you maintain for your business. It is provided through the National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency (FEMA) and may be written by carriers that support the Write Your Own system.
You can buy one or both.
Typically, the government requires a 30-day waiting period on new flood insurance policies. So it’s important to buy a commercial flood policy well before a potential flood event is headed your way.