What to Know About Commercial Flood Insurance | SERVPRO® of Beaver County

1/19/2022 (Permalink)

We can work with your insurance company to understand your water, flood, mold, and fire coverage

Making sure that your business is able to withstand any disaster is key to future-proofing your concept, but have you considered what would happen if a flood impacted your commercial property? The majority of commercial insurance policies do not include flood damage in their coverage—which means if you do not purchase a flood policy separately, you may be out of luck should the waters begin to rise around your business.

Even if you are not in an area prone to flooding, it is likely that a flood insurance policy would make a good investment for your business. Below, we will be taking a look at some key things to note about flood insurance so you can be sure that you are choosing the best coverage option for your situation.

### What Is Considered a Flood?

A flood is defined as a “temporary condition of partial or complete inundation of two or more acres...or two or more properties.” Floods can originate from overflowing bodies of water, rapid accumulation of surface waters (such as a flash flood scenario), mudflow or erosion that leads to water rising. 

If these types of events cause damage to your commercial building and/or its contents, flood insurance would be the coverage you would need.

### What Does Flood Insurance Cover?

Generally, flood insurance will cover direct physical damage to your commercial building as well as the contents within. This includes the building’s foundation, electrical system, plumbing system, HVAC system and personal items that are contained within the building. 

When you look into purchasing a flood insurance policy, be sure to check with your insurance provider about any specifics.

### What Does Flood Insurance Not Cover?

While flood insurance will cover many of the incidents mentioned above, there are some things it explicitly will not cover. This includes mold or mildew damage that could have been avoided, sewage or drain backups, properties, and belongings outside of your commercial building and commercial vehicles. 

It is also important to note that most flood policies take 30 days to begin coverage, so do not wait until you need it to consider purchasing it.

*If your business has been impacted by a flood and you need water damage restoration, we are here for you 24/7. Contact us today to learn more about the services we offer.*