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Fire & Water - Cleanup & Restoration

4 Things to Know About Commercial Flood Insurance

6/17/2022 (Permalink)

High water sign in a flooded area. High water sign in a flooded area.

Owning a business comes with a lot of decisions and stress, and much like a residential house, you never know when a water loss will happen. When considering if flood insurance would be beneficial to you and your business, think about these four things you should know. 

  1. Most commercial insurance policies do not cover flooding. 

Most of the time, if you want flood insurance, you will have to purchase a separate policy for it. Flood insurance will cover your property, structure, and sometimes your belongings if ruined by natural water. Requirements for reimbursement vary between different insurance companies. Check with an insurance agent to see what the requirements are right for you. 

  1. Flood insurance is not always a requirement. 

Although flood insurance is not always a requirement, it could still help give business owners peace of mind. Flood insurance is sometimes mandatory, depending on if you are in a high-risk area for flooding. 

  1. Some flood insurance policies have a 30-day waiting period. 

Depending on the insurance company you are going through, you may have a waiting period before you have coverage. You may not want to wait until the notice of a widespread storm to purchase flood insurance. 

  1. SERVPRO works with many different Commercial Flood Insurance Companies. 

Here at SERVPRO of North Kanawha and Teays Valley, we know flooding is stressful, and we are happy to help get your business back on track. Check with your insurance agent for more details on your policy coverage. 

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