When it rains, it pours: How much flood insurance does your business need?

  April showers bring May flowers.

The prospect of spring rain should also bring business owners to look at whether they have the necessary flood insurance. That’s because floods can cause billions – billions – in damage, wiping out businesses in their wake.

That’s why businesses need to consider whether flood insurance is right for them.

The government-run National Flood Insurance Program (NFIP) is a good place to start for general flood insurance information, including rates and flood-risk areas. The organization’s website, Floodsmart.gov, also provides a primer on reimbursement in the event of flood damage.

But let’s take a look at the big picture. With huge amounts of money at stake, not to mention a company’s solvency at stake, business owners should consult a trusted insurance broker to know exactly what coverage is needed because there is real cause for concern. Furthermore, an insurance expert can help you find the insurance coverage gaps that can rear their ugly heads when least expected.

With the weather turning warmer, now is as good a time as any to take a closer look at flood insurance. Take a page from California residents, who responded to the threat of El Nino by purchasing flood insurance policies at a record rate, as The Associated Press notes.

For more information on how the strategic insurance solutions Plexus can offer, contact us at 847-307-6100 (Chicago) or 972-770-5010 (Dallas/Oklahoma), or visit us on the Web at plexusgroupe.com.

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