When you leave your business unprotected from potential flood damage, you may be surprised how hard it would be to get back normal.
In fact on our of four businesses that have the unfortunate experience of damage by flooding never recover nor reopen for business. Average business flood claims are reaching $100,000 per claim. It makes great business sense to have a commercial flood insurance policy to make sure your business could continue for years to come.
The location of your business is very important in determining your rate for the desired coverage that you need. The rates are based on Moderate to Low Risk or High Risk area.
Regular business flood policies offer maximum building coverage of $500,000 and available contents coverage of up to $500,000 (Excess coverage, separate policy will cover more).
You can also opt for Contents Only coverage, if you prefer.
How are the commercial flood rate determined?
Commercial or business Flood insurance premiums are based on factors such as:
•Year of the building to be insured construction
•Number of floors
•The location of its contents (Basement or below ground is the worst)
•Its flood risk (i.e. its flood zone)
•The location of the lowest floor in relation to the elevation requirement on the flood map (in newer buildings only)
•The deductible (your out of pocket expense) you choose and the amount of building and contents coverage up to $500,000
We offer commercial or business flood insurance coverage, backed by FEMA in New Jersey and Pennsylvania. Let our FEMA certified flood specialists design a policy for your need. If you need other business insurance please visit njcommercialinsurance.com