Flood insurance, which is often not included in regular commercial property insurance plans, protects against flooding-related damage. It is essential for businesses located in flood-prone areas to safeguard their assets and ensure continuity in the event of a flood.
The cost of flood insurance differs based on several factors, including the location of your business, the level of coverage required, and the value of the insured assets. On average, businesses can expect to budget for premiums that reflect the risk level of their specific area.
The ownership and structure of your policy can depend on your company's legal setup. Generally, the company pays for the key person's policy, owns it, and is the beneficiary. The key employee must consent in writing to the company owning the policy.
Suppose you have indispensable key people or individuals whose contributions are so vital that their absence could imperil your business. In that case, key person insurance can supply the necessary money to recover and rebuild in the event of their premature death. Contact our Insurance Agency to learn more about protecting your business with key person life insurance.
At our Insurance Agency, we understand the unique risks businesses face. Our flood insurance solutions are designed to provide the comprehensive coverage you need to protect your assets and ensure your business can recover quickly after a flood.
Don't leave your business vulnerable to the unpredictable nature of flooding. Contact our Insurance Agency today to learn more about our flood insurance options and how we can help you secure your business.