Business owners across all industries continue to focus on their recovery process from the pandemic as they deal with labor shortages and try to return to pre-Covid revenues. However, there are always issues that can arise and derail the recovery process, and in Texas, a major issue that businesses must face is the threat of flooding. In the Gulf Coast region, hurricanes and severe summer storms can cause thousands of dollars in flood damage in a very short amount of time.
Although businesses don't have the ability to easily protect their property from fast-rising flood waters, they can take proactive steps to protect their business from the losses and costs that come from substantial flood damage. In today's Aegis blog post, we look at some of the reasons why businesses need Commercial Flood Insurance, and how this one policy can do a world of good for businesses trying to avoid being swept away by the damage left behind when floods strike.
Protects Against Building Damage
A Commercial Flood Insurance policy helps business owners get the financial help they need to repair and replace areas of the building damaged by flood waters. Specifically, Commercial Flood policies can cover the major building systems such as electrical, plumbing, and HVAC systems, as well as flooring, walls, appliances, and other major components. When business owners have the financial resources to quickly get their building repaired and operational, then they can have a faster recovery.
Covers Damaged Assets and Contents
When a business has suffered flood damage, replacing or repairing the contents inside the building can seem overwhelming, but Commercial Flood Insurance can help. Flood insurance can help protect against business losses of commercial content such as computer equipment, tools, merchandise, additional inventory, raw materials, fixtures and other business-critical assets up to $500,000. This coverage can be a lifesaver for businesses with significant amounts of assets inside, such as retailers or restaurants.
Provides Peace of Mind
Finally, Commercial Flood Insurance gives businesses the peace of mind they need at a critical time to focus solely on their recovery and reopening efforts. Without flood insurance protection, companies may be forced to wipe out all their savings or take an emergency loan with less than favorable rates and difficult repayment terms. A Commercial Flood policy also allows business owners to focus their available savings and resources on keeping employees paid or making investments that can help in their overall recovery process.
Aegis Insurance & Financial Services is committing to protecting companies through our wide range of Commercial Insurance policies, including Commercial Flood Insurance. Our Commercial Insurance agents can help create a customized business insurance portfolio tailored to your unique business and industry needs, all at competitive rates. Contact Aegis today at 713-850-7622 for more information, or fill out our online form to request a free quote!