What Do I Do If My Business Floods?

Summer rains are a common culprit of flooding. Often when thinking of flooding, melting snow comes to mind, but floods can happen any time of year. But even in areas where flooding doesn’t usually occur, it can still happen. Experiencing flooding, at home or at your company, can be devastating. Here are some things you can do if you have experienced flooding.

Take Photos of the Damage

Take photos or videos of the damage that flooding has caused. It’s evidence that your insurance company can use to assess the damage. If you start repairs before the insurance company takes a look, then you may not be compensated for the extend of the damage. Having electronic evidence makes it easier to assess and reassess.

Make a Claim

If your business has flood insurance, you can make a claim. Your insurance company will assess the damage and may be able to help cover the losses you’ve experienced. Lost inventory and building damage are two common claims. If you do not have a flood insurance policy, then you general liability insurance will not help in this situation. You will need to have a separate commercial flood insurance policy for damage caused by flooding.

Clean Up

Once you’ve contacted your insurance company and they’ve seen the damage, you can start working on the repairs to your business. Clean up the damage that the flooding has caused. You may want to hire a professional service to help you. It could be a hefty job. Flooding can damage flooring, walls, furniture, and insulation. Mold and mildew damage can grow and start to spread if you don’t remove it.

Repair

After a flood, repairing the damages can be costly. Broken windows, roofs, and damage to the structure are expensive repairs. You may also need to repair various systems like your HVAC or electrical systems. Shop around for different contractors and rates to find the best one. It’s a good idea to have a professional come in to assess the damage and talk you through the various repairs that your business needs. If you don’t clean and repair your business, then it could lead to health risks.

While it is unfortunate to experience flooding, that’s why it is important to have flood insurance. Without flood insurance, you could be paying a sizable amount of money to deal with flood damage. You may also want to consider business interruption insurance. That coverage helps cover lost income after a disaster. You may also have to relocate your business temporarily if there are a lot of repairs to be done.

Insurance is there for when things go wrong. Protecting your business with insurance can help keep it running smoothly, even in hard times. If you are thinking about getting a commercial flood insurance policy for your business, talk to an agent. They can find the right coverage for your business. And be sure to get coverage before a big storm hits!