Insurance To Help Protect Your Business From Water Damage

2/1/2022 (Permalink)

Your commercial property insurance won’t cover every type of water damage claim. For example, if your business property gets damaged from flooding, your commercial property coverage likely won’t help. That’s why it’s a good idea to get different types of insurance to help protect your commercial building from water damage.

• Commercial property insurance helps protect your owned or rented building and equipment you use to run your business. This policy helps cover claims of water damage due to leaks or burst pipes.
• Commercial flood insurance helps protect your business from natural disasters that can cause flood water and damage. You’ll want to get this separate insurance policy if your business is in a location that’s at higher risk of flooding.
• Business income insurance can replace your lost income if you can’t open because of covered property damage. For example, if a pipe leaks in your ceiling and causes mold growth, you may have to shut down for water damage and clean up. This coverage can help pay your ongoing expenses, like rent, utility bills and payroll until they restore services to your business.