The average flood claim for a business is $87,000 according to FloodSmart. 25% of businesses close after flooding events. Pretty grim statistics when you can purchae a flood insurance policy for as little as $643 for a building and contents policy. Commercial coverage gives you up to $500,000 of insurance to protect your building and up to $500,000 to protect its contents (As of October 2013)
Flood insurance premiums are calculated on a number of factors, such as:
Year of building construction
Number of floors
The location of its contents
Its flood risk (flood zone)
The location of the lowest floor in relation to the elevation requirement on the flood map
The deductible you choose and the amount of building and contents coverage
Flood insurance is a must to protect your business from devasting financial losses. Give us a call today to find out how this insurance can compliment your business insurance portfolio.
GSM Insurors offers free, comparative quotes on Commercial Flood insurance from multiple insurance carriers to offer you very competitive rates.
Want to see how much we can save you? Just request a quote to find out.