You don’t have to own waterfront property to need flood insurance
Flood insurance…when you know the facts, it’s not a luxury, it’s a necessity.
LOW COST FLOOD INSURANCE FOR YOUR BUSINESS
Did you know that you can buy low cost flood insurance for your business or commercial building
even if you live in an area that is a low to moderate flood risk?
It’s called a Preferred Risk Policy (PRP) for businesses. If your business is located in an area that has been designated a low to moderate risk area for floods, your insurance premium is surprisingly affordable. But if you experience a flood, your policy cost will seem
tiny compared with the costs associated with cleanup, repair and replacement.
You may be eligible for a Preferred Risk Policy for business owners from Travelers if your commercial building or business is in a low or moderate flood hazard zone designated by the Federal Emergency Management Agency (FEMA) and has limited flood loss history. Travelers participates in the federal government’s National Flood Insurance Program (NFIP). Don’t confuse disaster assistance with flood insurance. Even if your area is designated a federal
disaster area after a flood, all you might get is a loan. Flood insurance provides money that you don’t have to pay back.
IF MY BUSINESS IS IN A LOW TO MODERATE RISK AREA, WHY DO I NEED FLOOD INSURANCE?
Good question. Flood insurance might seem like extra protection that is a luxury that only some can afford. But not when you consider that:
- Approximately 25% of flood insurance claims come from low risk areas
- 60% of declared disasters involve flooding
- Flooding happens in every state and can happen any time of the year
- Even if your building is far from a river, flooding can be caused by heavy rain, melting ice and snow, clogged storm drains and densely built developments
- Flood insurance pays for your covered losses, even if you are not in a federally declared
- disaster area
Flood insurance pays for property protection even before a flood….like sandbagging and other
expenses for preventing flood damage Most commercial property policies exclude flood
damage and losses
WHAT TYPES OF PROPERTY ARE COVERED BY COMMERCIAL FLOOD INSURANCE?
- Commercial buildings (including offices, stores, warehouses, churches, schools, hospitals etc
- Hotels/motels
- Non-residential manufactured mobile homes
- Other non-residential buildings (including agricultural buildings, pool houses, garages, etc.)
- Commercial contents (located in eligible buildings)
WHAT GETS COVERED?
- Building coverage that pays for damage to your building and fixtures/machinery/equipment
- servicing and or part of the building
- Contents coverage for your business property (i.e. furniture, fixtures, machinery/equipment
- stock and other owned business personal property)
- Sandbagging and other flood prevention measures Cleanup reimbursement to cover costs of cleaning your building and removing debris after a flood
PAPERLESS INSURANCE IS THE PLACE TO START
Contact us about Travelers Flood Insurance today. You’ll get a no obligation quote, and
valuable information aimed at protecting your most valuable possessions. In most cases it takes 30 days for flood insurance to take effect, so if you’re buying or leasing new office or commercial space, purchase the flood insurance early enough so it will be in force by the time you move.