Why You Need Commercial Flood Insurance
Do you ever wonder whether you should worry about flooding? Well, consider that more than 20% of flood claims come from properties outside high-risk flood zones, according to the Federal Emergency Management Agency (FEMA). Any business near a body of water, including lakes and streams, is vulnerable.
In addition, if your community is experiencing overbuilding, dealing with an antiquated sewer system or has severe weather, you’re also at an increased risk of flooding. Floods are the nation’s most common and costly natural disaster, causing millions of dollars in damage annually.
A Smart Choice
It does not take a national disaster declaration for flood insurance to be used. When you consider that just 1 inch of water could cost more than $27,000 in damages, according to FEMA, the benefit of having flood insurance protecting your business is well worth the cost of the policy.
How to Buy Flood Insurance
To purchase flood insurance through the NFIP, contact Richland-Knowles Agency, as you cannot buy flood insurance directly from the NFIP. Keep in mind that NFIP flood insurance rates do not differ from company to company nor agent to agent.
Here are 10 important questions to ask about flood insurance.
- Does my community participate in the National Flood Insurance Program?
- How do I know my business’s flood zone?
- Is flood insurance mandatory for my business’s location?
- Will the federal government back my flood insurance policy?
- How much coverage should I get for the building/equipment?
- Is there any way I can reduce the cost of my flood insurance?
- Are there additional expenses or agency fees?
- Will my policy provide Replacement Cost Value or Actual Cash Value?
- Who should I call if I have a flood claim?
Contact Richland-Knowles Agency
Flood damage can be costly. Contact Richland-Knowles Agency to inquire about a flood policy.
