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Written by Adam Miller
Why Your Business Needs Flood Insurance

Business owners rely on a variety of Commercial Insurance policies to protect their business, assets, and employees. Unfortunately, a large number of businesses throughout our region forgo Commercial Flood Insurance, which is a major risk in a flood-prone city like Houston. Heavy rainfall from storms, tropical disturbances and hurricanes can easily lead to flash flooding of offices, restaurants, retail shops, and other commercial businesses. Flood Insurance provides the financial assistance needed to repair and replace valuable assets lost in a flood that would otherwise not be covered under a Business Owners Policy or Commercial Property Policy. In today's blog post, we'll look at three key reasons why businesses in all industries need the protection that comes with Commercial Flood Insurance.

Repair Building Damages

Skipping Commercial Flood Insurance is a gamble most Houston businesses cannot afford to lose. According to the National Flood Insurance Program, the average claim for commercial flood insurance is over $85,000, and around 25% of businesses that close due to flooding are never able to reopen because of a lack of financial resources to make needed repairs and replace assets. Commercial Flood Insurance covers the physical building and its foundation, which can be extremely costly for businesses to repair on their own. For example, brick walls, siding, doors, windows, and building components can be covered under a Commercial Flood policy, which allows the business owner to focus their time and resources on other areas of repair.

Replace Company Assets and Repair Utilities

Commercial Flood Insurance also covers interior physical damage to your commercial property, including electrical and plumbing systems, air conditioning units, water heaters, duct work, carpet and sheetrock. In addition, Commercial Flood Insurance also covers assets such as electronics, phone systems, refrigeration and appliances, food and other inventory, as well as permanent cabinetry, bookcases, paneling and other built-in features. Without Commercial Flood Insurance, businesses could face thousands of dollars in out of pocket costs just to make the building functional with air, electricity and running water.

Reduces Closure Time and Revenue Loss

Business owners know all too well that a closure of any kind can lead to a loss of customers as well as revenue. For businesses that have flood damage, timing is crucial since owners need funds to quickly make repairs, clean and disinfect the premises, and replace lost inventory, tools and vital business equipment. Commercial Flood Insurance allows business owners to have a shorter closure period and faster repair and recovery time to minimize revenue and customer losses.

No business owner should ever have to close down permanently due to damages and losses caused by floodwaters. Aegis helps Houston area businesses by offering Commercial Flood Insurance, as well as answering questions about coverage and analyzing potential risk based on the business location and flood history. In addition, Aegis also offers a full range of top quality Commercial Insurance coverage, including Business Owners Policy, Commercial Property Insurance, Commercial Auto, General Liability, and Workers Compensation. Call Aegis at 713-850-7622 for more information, or go online to request a free quote today!

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