Flood insurance provides protection for destruction and financial devastation caused by floods. Although it may not seem like much, even a few inches of water can cause damage, resulting in thousands of dollars in repair and restoration costs. Purchasing flood insurance through the John M. Glover Agency can protect you.
Flood insurance is important if you want to keep your business safe and your possessions and assets secure. Flood coverage offers protection against losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, snow melts, etc.
Different types of policies are available based on your property’s location and flood history:
- Standard Flood Insurance Policies
If you're in a community that participates in the NFIP, your building and its contents can be covered by a standard flood insurance policy. The National Flood Insurance Program (NFIP) was established by the Federal Government to help communities who “voluntarily participate in the NIFP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
- Preferred Risk Policies
If your business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you are not required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are effected by a small flood, or a larger flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.
Don't wait until it's too late. Contacting the John M. Glover Agency today will get you on the path to flood protection. Fill out our simple form to receive a
free commercial flood insurance quote today.