Does Commercial Insurance Cover Flood?

Flood is a big issue for some areas and a non-concern from other areas so flood insurance is not something that all people need. For those that do need flood insurance, it is important to understand what the policies you already have in place cover and what may need a bit more coverage. For those in the Charlotte, NC area, the agents with Jim Boyce Insurance can help you determine what your policy already covers and what policies you may need to add more coverage too.

Overall commercial insurance covers a wide range of things from employee damages and injury to fire and even theft of your inventory. Most commercial policies, however, do not cover flood or similar water damage. So why do these commercial policies not cover flood? For the same reason that most homeowner’s policies do not, a flood is not a common occurrence in all areas and therefore does not need to be covered by all policies.

Flooding from something like a burst pipe, however, is going to be covered because it is something that cannot be prevented and that can happen literally anywhere. Flooding from storms and from nature, however, are not going to be covered by most commercial policies. If you do live in an area where you feel there is a chance your business or commercial property is going to be damaged by flood, you may need to take out a separate flood policy so that you can use to protect your commercial property from a flood.

You need to take the time to really make sure you know what your policy covers, what it does not cover, and what extra coverage you may need. For those that live in the Charlotte, NC area, the agents with Jim Boyce Insurance can help you find your perfect policy.