Alarming statistics about flood waters, business interruption and business closures has prompted OPP to offer vital flood insurance protection to insureds (clients).
3 alarming statistics that every business owner should know
- Almost 40% of small businesses never reopen their doors after a flood disaster.
- Floods happen everywhere. 25% of all flood damage occurs in low-moderate flood risk areas. Business owners should not rely on a line on a flood map for protection.
- Most business insurance policies exclude flood damage. Only flood insurance pays qualified claims quicklyso a business owner can get back to business.
Why You Need Flood Insurance
- Floods happen everywhere – in all 50 states and in your neighborhood.
- Common causes of flooding include: tropical storms, rapid rainfall, spring snowmelt, changing weather patterns, clogged rainwater systems, new building development, even drought or wildfire conditions.
- Your business policy does not cover flood damage.
- Government assistance is only available in less than half of all floods, and it usually comes in the form of a loan–repayable with interest.
DON’T WAIT UNTIL IT IS TOO LATE!
Generally, there is a 30-day waiting period from the receipt of premium until the policy goes into effect. Contact us today for more information on how to protect yourself from rising waters.