Flooding in Vermont – commercial properties can be at risk.
A flood can happen during any season and anywhere. With commercial flood insurance you get protection from flooding caused by rain, melting snow, and more. Commercial Property Insurance does not cover flood damage; a separate Flood Insurance policy can be purchased to protect your commercial property. Know your degree of risk and explore your options for commercial flood insurance in VT.
Here are a few flood facts:
- 25% of flood claims occur in low to moderate risk flood areas.
- There is a 30 day waiting period for a policy to take effect.
- In the US, flooding is the top natural disaster.
Learn more facts here.
There are limitations to the flood policy and the National Flood Insurance Program (NFIP) has an official “flood” definition. A flood is “A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
- Overflow of inland or tidal waters;
- Unusual and rapid accumulation or runoff of surface waters from any source;
- Mudflow (Mudflow is defined as “A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water…” ) or;
- Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.”
We understand that you may have questions about the options available. We invite you to speak with one of our commercial insurance specialists. They can walk you through the insurance shopping process so you can make an informed decision about commercial flood insurance coverage for your Vermont company. Request a free insurance cost review today!
