DOES YOUR BUSINESS NEED FLOOD INSURANCE?

10/23/2020 (Permalink)

Flood insurance Business Ventura California

DOES YOUR BUSINESS NEED FLOOD INSURANCE?

Natural disasters are devastating to business. Lightning and wind caused damaged to property. Business is one of your most prized. Here, you invest a lot of time, effort and money. Because of this, you take all the necessary measures to ensure that your business is covered against loss from different types of risk. Being prepared for disasters is part of being a responsible business owner. If you have a business, you need to know about flood insurance if you want to protect it from flood damage.

What does flood insurance cover?

Flood insurance covers damage to building and contents caused by flood. This includes losses from overflowing rivers, heavy rain, storm urge, snow melt and other similar causes. Floods are defined as situations in which waters covers at least two acres or affect two properties. Flood damage protection requires a special and separate policy which can be purchased from the federal government’s National Flood Insurance Program (NFIP) as well as from private insurers. If water comes from above like rain or snow melting and drips into your building, it will be covered by standard commercial property insurance.

What isn’t covered by flood insurance?

Property outside a building will not be covered by flood insurance. According to NFIP the following kinds of damage are not covered by flood insurance:

1. Damage caused by moisture or mold that could have been avoided by owner.
2. Damage caused by earth movement if the earth is caused by flood.

If your business suffers from water damage, contact experts in emergency restoration as possible. Right insurance and a good team of professionals can have you back in business as soon as possible.

If you have any questions about water damage, please do not hesitate to call SERVPRO of Ventura at (805) 656-3911.