The Benefits of Getting Commercial Flood Insurance

Millions of homes and businesses are damaged by floods each year and can cost thousands of dollars in damage. In fact, even one inch of water can cause over $20,000 worth of damage.

Are you looking for the best commercial flood insurance company to give you flood protection and protect you against storm damage? Keep reading to learn more about the benefits of flood insurance!

What Is Commercial Flood Insurance

Commercial flood insurance protects your business in the event of flood damage. It not only will protect your building, but it will also protect the contents of your building! Flood insurance can help you pay for repair costs and it can even cover the costs of new products depending on your coverage.

Floods can cause devastating damage, especially to businesses that live in areas with high flood risk. Even businesses that are not in high-risk areas for floods can be damaged as well. Having this insurance coverage will protect you from flooding when other insurance policies will not!

What Does Flood Insurance Cover?

Flood insurance generally only covers damage or losses that are directly caused by a flood. While most commercial insurance policies or business owner policies will not cover damage from flood water, commercial flood insurance will cover damages caused by flood water and will also help pay for all expenses associated with this flood water.

Commercial flood insurance offered by Central Jersey Insurance Associates will not only protect your business location, but it will also protect the assets inside your property.

Benefits of Getting Commercial Flood Insurance

There are many benefits that come from getting additional flood insurance. Not only does it protect your livelihood, but it will also give you peace of mind! Here are some ways that getting commercial flood insurance can help you.

Peace of Mind

One of the biggest benefits that comes from purchasing commercial flood insurance is that it will give you peace of mind. Even if you do not live in an area that is at risk for flooding, there are still unforeseen problems that can cause flooding.

Having this insurance will give you peace of mind that your business will be protected, that you will not lose your business product, and that you will be able to recover from a natural disaster!

Protects From Financial Loss

If your business floods and you do not have commercial flood insurance, you may not be able to financially recover. Not only does flood damage cost thousands of dollars to repair, but flooding can also damage the products that you sell or important business documents!

Another financial loss can come from the time your business is interrupted. If you cannot work until repairs are made, you are losing out on more money from your clients.

Having commercial flood insurance will save your wallet when your business experiences a flood.

Protects Building and Product

As was mentioned previously, flood insurance protects not only your building. If you have important products, documents, or other assets that are damaged as a result of a flood, your insurance will protect you and cover these costs!

Additional Coverage

Finally, a benefit of commercial flood insurance is that it provides additional coverage to your business that other policies may not cover.

While business owner policies may cover damage to your building created by broken pipes, they won’t cover flooding from natural causes. Having this additional coverage will keep your business safe!

Common Causes of Floods

There are many things that cause floods, even in areas that aren’t high risk for flooding. One of the major events that can cause floods is storm surges and hurricanes.

Hurricanes affect many states in the United States, but especially affect the eastern coast and southern states, like Texas and Louisianna.

Another thing that commonly causes flooding is flash floods. These come from heavy rainfall in a short period of time. Other types of flooding can come from blocked storm drains, broken dams, extreme snowmelt, mudslides, and more.

What Companies Should Get Commercial Flood Insurance

Anyone who owns a company should purchase flood insurance. This will protect your business in the event of a flash flood, rising water, and other disasters that come without warning.

There are also many companies that are situated on a flood plain. This is an area of low-lying ground that is near running water, like a river. In the event of the river rising, these plains are often flooded. Many businesses located in these areas may be required to have flood insurance.

Many people believe they are immune to issues that come from flooding. However, floods can happen anywhere. It is important to determine your risk of flood damage and see if your business is near a flood zone. Especially if your business is on a lower floor of a commercial building, you have a higher risk of being flooded.

Find a Flood Insurance Company Today!

Do you need flood protection for your commercial business? It is vital that you do your research to find coverage that will protect you in your time of need. If you want to learn more about commercial flood insurance and how to protect your business, Central Jersey Insurance Associates can help! We have offices in Eatontown and Medford, New Jersey, and we can help you prepare for unexpected disasters. Contact us today to learn more about flood insurance and our business insurance options!