Many business owners often wonder if it’s truly necessary to pay for flood insurance each month. In short, yes, you really should. Sometimes the Sunshine State isn’t all sunshine. Living in Florida has so many benefits, but when it comes to flooding, it can be irregular and become an extremely expensive repair very quickly. Flooding is one of Florida’s most frequent hazards and can occur at any time of the year. Most insurance policies don’t cover flooding, so a specific flood insurance policy will be necessary to cover the damages. The policies can cover the building, the contents of the building, or both.
The Risk of Floods
Florida has among the highest frequency of floods in the United States. Although, some areas within Florida aren’t as susceptible to flooding. At Biscayne, we can assess and identify the flood risks of your property. Just one inch of floodwater can cause up to $25,000 in damage. Despite what many think, all properties are in a flood zone, just some are higher hazard than others.
Why You Should Get Flood Insurance
At least 25% of businesses that close after floods never reopen, and commercial property insurance doesn’t typically cover flooding. If your business is near a body of water, the risk of flooding highly increases. Whether it’s a creek, pond, river, or lake, the water is still at risk for overflowing and causing significant damage. The areas in Florida most at risk for flooding are Cape Coral and Tampa.
If You Don’t Have Flood Insurance
Businesses that experience floods often face a unique set of problems compared to residential property flooding. Your business could lose crucial files, computers, customer information, and so much more. When a business has critical flood damage it faces more consequences than just building damage, it could affect the well-being of the employees and it might be necessary to shut down the business. The aftermath of a flood without flood insurance can be detrimental.
If your property experiences flood damage, you’ll want to get up and running again as soon as possible. But without flood insurance, that could be extremely difficult and costly. It can be a daunting and emotional task to assess the loss and damage you’re going through. With Biscayne, we can make the process a little less stressful and take care of your needs.
What Biscayne Can Do For You
Even if your property isn’t in a high hazard flood zone, your property is still susceptible to flooding. At Biscayne Risk & Insurance Group, our main goal is to identify and minimize workplace risks before a catastrophe or disaster occurs. We want to protect your company and assets with comprehensive solutions and risk analysis. Biscayne can calculate the risk of a flood using a flood zone map and present customized options for your needs. A flood doesn’t have to be devastating with Biscayne Risk Group at your side.