Every year, according to the National Flood Insurance Program (NFIP), flooding causes more than $2 billion of property damage in the U.S. More and more buildings, roads and parking lots are being built where forests and meadows used to be, which decreases the land's natural ability to absorb water. The changing weather patterns, coupled with robust construction have made recent floods more severe and increased everyone's chance of being flooded.
Every business is at risk of flooding. If there is a flood, will your property insurance cover it? It will if you have business flood insurance coverage. Even after the floodwaters recede, your business can remain underwater – financially. The fact is, 40% of all small businesses that experience a flood fail to reopen. That's because basic property insurance often doesn't cover losses from flooding. NFIP can shelter your business from hurricanes, rain, snow melts and even flooding due to drainage caused by new developments.