Flood Insurance Across New Jersey
Did you know that at least 25% of businesses that experience severe flooding never reopen? We’ll help you design a policy to protect your business, its physical assets, and contents from the financial impact of flood damage.
Many business owners are surprised to learn that standard commercial property insurance often doesn’t cover flood damage. Flooding can devastate a business—not only does it damage equipment and buildings, but it also results in downtime when operations are halted.
Flood insurance typically has a waiting period of up to 30 days before it takes effect, so it’s wise to secure coverage well in advance of any forecasted heavy rain.
Moreover, commercial properties face various flood risks beyond just heavy rainfall. Issues like clogged drains can transform a minor storm into a major flood event.
Consider both commercial flood insurance options available through the federal National Flood Insurance Program (NFIP) and private non-NFIP policies. Non-NFIP policies offer advantages such as full replacement cost coverage (unlike NFIP, which accounts for depreciation) and coverage for loss of income during the rebuilding phase (which NFIP does not cover).
Whether your business is in a high-risk flood zone or not, commercial flood insurance is an important consideration. Contact our insurance experts to find out how we can help protect your business from flood-related risks.