Flood Insurance: Not Just for the Coasts
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Oceanside towns are infamous for hurricanes and flooding. It isn’t until a major flood hits the Midwest that we start to acknowledge the true impact of severe storms. The nation saw seven billion-dollar disasters related to weather in 2013. These incidents show that disasters, including catastrophic flooding, can occur in the most unlikely places. Flooding is a widespread danger to any business. Most importantly, it isn’t a danger that’s limited to locations that are close to large bodies of water.
Flood insurance, whether through the government’s National Flood Insurance Program (NFIP) or standard markets, covers physical damage to your property and possessions. Coverage includes:
- The insured building and its foundation
- Electrical and plumbing systems
- Central air conditioning equipment, furnaces and water heaters
- Refrigerators, cooking stoves and built-in appliances such as dishwashers
- Permanently installed carpeting over unfinished flooring
- Permanently installed paneling, wallboard, bookcases and cabinets
- Window blinds
- Detached garages and detached buildings
- Debris removal
Personal Contents Property
- Personal belongings: Clothing, furniture and electronic equipment
- Portable and window air conditioners
- Portable microwave ovens and portable dishwashers
- Carpets that aren’t included in building coverage
- Clothing washers and dryers
- Food freezers and the food in them
- Certain valuable items (i.e. original artwork and furs)
Flood loss caused by heavy rains, melting of snow in mountainous or hilly sections, rising rivers and by hurricanes is covered with this insurance. Without specific flood insurance prior to a disaster, damage or destruction would be the responsibility of the property owner. How many business owners can handle a potentially substantial loss as an out-of-pocket expense? Can you?
Contact Assurance to explore this protection, before the next flood hits.
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