Hurricane Season: Making Sure Your Business Is Covered

1/3/2022 (Permalink)

Making Sure Your Business Is Protected During Hurricane Season

Storm insurance, in the most general sense, is likely covered under most commercial policies. However, when you start to specify natural disasters into categories like hurricanes, earthquakes and floods, your policy is not as all-inclusive as you thought. To adequately protect your business this hurricane season, you may want to invest in some insurance riders and policy upgrades.

1. Hurricane and Flood Rider

Typical commercial insurance coverage will cover things like wind storms, but these are not hurricanes. Hurricanes are a different extreme breed of a storm, and as such, they require a specific rider. This is the same for flooding. These specific natural disasters are not general enough to be all-included, meaning that these disasters are typically regional and not nationwide.

2. Business Interruption

Your storm insurance coverage under your standard policy will likely not include business interruption insurance. This means that when your business is forced to close for renovations due to storm damage, your losses will not be covered possibly placing your operation in financial trouble.

3. Business Owner’s Policy

A business owner’s policy will likely bundle property, general liability and interruption insurance under one cohesive plan, but this is dependent on your insurance provider. Many owners find the convenience of bundling beneficial while others prefer to shop around.

A flooding and storm specialist in the Onalaska, WI, area or your insurance provider can offer more insight and clarification into the specific policies and their benefits. Also, they can help you decide which options are best for you and your business. These decisions are primarily tied to location and climate zones, so it pays to get an informed decision.

Storm insurance, specifically coverage for certain severe natural disasters, is beneficial depending on your specific circumstances. Not every business owner requires hurricane coverage, but for those that do, it is helpful to know that a typical policy requires additional riders for that coverage.