The Cost of Flooding goes beyond Property Damageat10211
As a business owner in New York State, it’s essential to be aware of the risk of flooding, and what impact a flood would have on your enterprise. Flooding, whether brought about by coastal storms or by heavy rainfall, can cause significant property damage, as well as disrupting day-to-day business operations. You might not realize that your business insurance doesn’t generally cover damage or loss as a result of a flood.
A flood can force a business to close while the premises are pumped out, sanitized, and dried out. Other practical difficulties that can arise after flooding include unavailability of key workers who have been personally affected by flooding at their homes, and delays in having building repairs completed because of a sudden spike in demand for contractors’ services. There may also be delays in obtaining replacements for equipment and inventory lost in the flood.
Flood insurance is available as a separate policy to your general business insurance. Your business premises don’t have to be located in a flood prone area of the state to be at risk of flooding. Having flood insurance in place can mean getting back up running faster in the event a flash flood damages or destroys your building or equipment.