Floods are a nasty natural disaster that can be the source of some real damage. Does your business need flood insurance in Banning?
It's a question that many business owners consider momentarily before tossing it aside for another day. Business owners unfortunately make the assumption that their business policy will cover the damages that result from the flood. Here are a few questions and answers that can help you determine if your business needs flood insurance.
Does my commercial property insurance cover flood damage?
No! Damage that is generated from things like hurricanes or storm surges is generally not covered under the common commercial insurance policy. If you want your business to be covered from flood damage, you need flood insurance in Banning. There's no way around it.
What does flood insurance cover?
Flood insurance covers damage that is done to your building and equipment that is inside. Losses that result from water overflowing rivers, prolonged/heavy rain, snowmelt, clogged sewage systems, broken dams, or other similar causes.
What does it NOT cover?
Property that lies outside of your building will not be covered. This includes things like fences, landscaping, and other such structures. Flood insurance in Banning also does not cover damage to your business vehicles; the comprehensive portion of your policy should cover it, though.
Do I have to buy flood insurance?
While it is recommended it is not mandatory for everyone. There are exceptions. If your business resides in a high-risk plane of space and you have a mortgage from a federally regulated or insured lender, they may require you purchase flood insurance before closing the deal.
The right
homeowners insurance can cover many damages, but flood damage is not one of them. We at Little & Sons Insurance Group serve Banning, Beaumont, Calimesa, Redlands, and the surrounding California area. The right insurance coverage shouldn't be a task you have to worry about.
Contact Little & Sons Insurance Services.
