3 Reasons You Need a Flood Insurance Policy
Three Reasons You Need Flood Insurance
Your business in Falmouth, ME, isn't in a flood zone. In fact, you don't live in an area where flooding has historically been an issue. Although your commercial insurance agent is encouraging you to consider a policy, you're skeptical about the additional cost. Here are three reasons that you need a flood insurance policy even though you don't live in a flood zone.
1. Floods Aren't Always Natural
When you think of floods, you are probably thinking about naturally occurring ones that make news headlines. However, floods aren't always caused by nature. Your business could flood because of a burst water main line in the street or a leaking pipe in the basement.
2. Flood Damage Is Costly
Many commercial insurance policies have exclusions for floods, so you could find yourself on the financial hook for a lot of damage restoration without a separate policy for floods. A flood policy covers what your primary insurance does not in the event of an incident, including product that might be damaged or destroyed.
3. Flood Insurance Is Affordable
Don't let cost stand in the way of full coverage for your business. FEMA offers a National Flood Insurance Program that is affordable for business owners like you. Additionally, the NFIP supports communities as they plan flood mitigation efforts. Whether you experience flood damage from nature or from some other source, a flood insurance policy will help you to recover more quickly.
When you need restoration help after a flood, your commercial insurance provider will be able to suggest a water damage restoration team that will work with you from the initial damage assessment to the end of your project.
The way that this works best for you is if you have a flood policy that ensures there are no gaps in coverage with your general insurance plan.
Prevent financial strain on your bottom line by choosing a policy like NFIP from FEMA to keep your business safe.