Flooding might not be the first threat that comes to mind when you think about protecting your business, but it's a serious threat every Texas small business owner should take seriously. Even just an inch of water inside your commercial property can cause thousands of dollars in damage.
Although we can't control the weather, business owners can take proactive steps to reduce the likelihood of flooding issues on their commercial property and encourage proper drainage to protect their building. Learn some practical steps for improving drainage and avoiding flooding, as well as some of the key Commercial Insurance policies you need from Aegis Insurance & Financial Services.
How Flooding Impacts Small Businesses
From ruined flooring and damaged furniture to destroyed inventory and non-functioning equipment, water damage can disrupt your operations and drain your profits fast. Whether you run a retail shop, restaurant, daycare, auto garage, or medical practice, a flood can mean forced closures, canceled appointments, lost revenue, and weeks of cleanup.
The impact of a flood is more than just the immediate damages. As a business owner, you should also factor in the downtime caused by flooding, losing valuable employees who can't afford to wait for your recovery, and the financial strain of meeting financial obligations like rent and utility payments while you rebuild.
Ways to Reduce Flooding Risks on Your Property
Fortunately, there are practical steps you can take to lower the risk of flooding and protect your business. These include:
– Clearing Landscape Debris
Leaves, trash, and overgrown vegetation can block storm drains and gutters, causing water to back up and pool around your property. Schedule regular cleanups to keep everything flowing smoothly and to promote good drainage in your parking lots, entryways, sidewalks, streets, and surrounding property.
– Improving Drainage Systems
Check your property's existing drainage, making sure all downspouts move water at least six feet from your foundation. Installing additional outdoor drain paths or French drains can help redirect stormwater away from your building.
– Investing in Retention or Detention Ponds
If your property is in a flood-prone area or has limited natural drainage, it might be worth it to install a retention or detention pond nearby. They can help manage heavy rainfall by storing excess water on your property, which then drains slowly and safely away.
– Elevating Essential Equipment
If flooding is a potential issue for your business, consider raising electrical panels, HVAC systems, computers, and other critical equipment off the ground level. This small change can save you a massive headache if water enters the building.
Implementing any of these changes can make a big difference in keeping your commercial building, property and inventory, and equipment free from possible flood damages and costly losses.
Don't Skip the Insurance
Taking preventive steps is smart, but no plan is foolproof. That's why you need the right insurance coverage in place before disaster strikes.
Commercial Property Insurance helps cover the cost of repairing or replacing physical assets like your building, tools, and equipment damaged by a covered event. The catch is that most Commercial Property Insurance excludes damages caused by flooding.
Flood Insurance is a separate insurance policy that specifically covers damages and losses caused by flooding, whether from a storm, rising rivers, or local drainage failures. Together, these two policies can give your company a financial safety net to recover quickly and stay in business.
Get Covered with Confidence
At Aegis Insurance & Financial Services, we specialize in protecting small businesses like yours. Whether you're looking to upgrade your Commercial Property Insurance, add Flood Insurance, or just want to understand your risks better, we're here to help.
Contact Aegis Insurance & Financial Services today at 713-850-7622 to get expert advice and the right coverage for your business.