The Top 3 Commercial Flood Preparation Tips

4/6/2022 (Permalink)

Flood Preparation Tips

Owners or occupants of commercial buildings prone to flooding should take measures to prepare properties in Warwick, RI. Planning ahead for flood damage can be beneficial, as it is more difficult to make good decisions when time is limited. Here are three of the most effective flood preparation tips.

1. Make a Flood Level Checklist

The critical utilities in a building should be installed above the Base Flood Elevation level. Any portable items used below this level should be listed and elevated above the level at which they are likely to be exposed to black water prior to flooding. Electric appliances used in office settings are likely to be ruined by exposure to any type of water, and grossly contaminated water can destroy many other types of contents.

2. Get Commercial Flood Insurance

Most commercial general property policies exclude flood damage. For this reason, commercial property owners may want to obtain a separate flood insurance policy through the National Flood Insurance Program or a private insurer. The NFIP General Property Form can insure building property up to $500,000 and personal property up to the same amount.

3. Consider Interruption Insurance

Neither a general commercial property nor an NFIP Commercial policy will offset financial losses that result from the inability of a business to operate for days or weeks due to damage. Business owners can calculate ongoing expenses during a shutdown and take out an interruption insurance policy with a high enough limit to offset these losses during the typical time frame for storm damage restoration.
When flooding is expected to occur in Warwick, RI, property owners or commercial tenants can use a checklist to remember to elevate delicate or important contents and take important safety measures. Maintaining business interruption or commercial flood insurance can also give a building or business owner more peace of mind in the event of a flood.