Regardless of scale or sector, your business represents a major investment in your time and money. So, you want to protect it from all threats inside and out.
One of the most damaging things that can happen to any structure is flooding. Yet most commercial insurance policies do not specifically have flood coverage written directly into the policy unless the property is in a known flood zone.
Unfortunately, increasing severe weather and water infrastructure failures are on the rise across the United States. This leaves some business and commercial properties at high exposure risk to flooding, and the enormous out-of-pocket expenses that can arise from even the smallest flooding event.
NFIP is provided and administered by insurance providers on behalf of the federal government. Though NFIP is not the only option in the flood insurance marketplace. Some private insurers offer coverage plans for floods against loss caused by floods. Having the right company on your side like Healy Brokerage will go a long way toward assessing the type of flood insurance.
It’s also important to note that FEMA typically requires a 30-day waiting period for new business flood insurance policies. With that in mind, it’s a good idea to have your commercial flood policy in place long before a possible flood event is headed in your direction.