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Rain can cause flooding with little or no warning. Sometimes it’s the result of rivers and streams miles away, already swollen from heavy rains. Sometimes it’s simply the land’s inability to absorb excess water from heavy downpours. Flooding can turn your life inside-out in a matter of minutes.
Whatever the cost, the toll can be enormous. Consider these facts:
- Floods can happen anywhere, anytime, in all 50 states.
- 80% of the natural disasters that strike the US each year involve flooding.
- One in three flood claims are made outside flood-prone areas.
- 90% of floods are not declared federal disasters, which leaves the full cost of rebuilding up to the business owner.
- Business owner policies do not cover flood losses. Only flood insurance will protect business property.
Insurors can help you determine if you need flood insurance. We work with insurance companies that offer protection through the National Flood Insurance Program. You may be interested to know that in the event of a flood loss, disaster assistance does not cover all the rebuilding or replacement costs. When you consider that the average repayment cost of a disaster building loan is five times more than the average annual flood premium, it’s clear that flood insurance makes good financial sense. Contact our office today to speak with someone about your flood insurance needs.