Flooding poses a huge threat to businesses everywhere and unfortunately, many business owners believe that their general commercial property insurance will cover their business if it was ever damaged by a large flood. However, this type of business insurance in East Rutherford New Jersey doesn’t protect business owners from flooding. Therefore, flood insurance should be an essential component of every business’ insurance plan.
What Flood Insurance Covers
A general flood insurance policy will cover damage to your business’ physical location. This insurance will typically cover the:
- Electrical and plumbing systems
- Central air conditioning systems
- Furnaces and water heaters
- Installed appliances
- Carpets, cabinetry, wall coverings, and bookcases
Debris removal is often included in flood insurance policies as well. Many business owners forgo obtaining this necessary type of business insurance in East Rutherford New Jersey because their business is not in a high-risk flood zone. However, floodwaters can have effects on businesses everywhere. If you operate your business out of a location that is in a moderate or low-risk flood zone, your business may be eligible for what is called a Preferred Risk Policy. This type of policy has low premiums and the coverage amounts can be extended as needed.
If you are worried about the potential threat of flooding, talk with your business’ insurance provider to protect your business from the damages a flood could cause to your business’ location.