Flooding is a risk to any business, whether you are inland or near the coastline. In fact, in the past five years all 50 states have experienced floods, and at least one in four businesses that shuts down from a natural disaster never reopens. According to the U.S. government, the average commercial flood claim in the past five years has been around $89,000, and the average property damage due to flooding adds up to more than $3.5 billion annually.

Floods have many causes and can occur anywhere in the country, but here are some of the most common events that lead to flooding:

  • Storm surges in hurricane-prone areas
  • Flash flooding, caused by periods of intense rainfall
  • Mudslides, caused by long, heavy rain periods on a hill or mountainside
  • Snowmelt, caused by the still-frozen ground unable to absorb excess water
  • Ice jams, which are formed when an ice chunk flowing in a river or stream blocks, dams or narrows passageways, causing overflow
  • Urban development, such as new construction and/or ground paving, which alters the topography by not allowing the land to drain properly

A general policy will not cover flood damage; therefore, separate flood insurance is necessary to protect your business. To learn more about flood insurance, please call Evergreen today.