The Understated Value of Flood Insurance

Commercial packages Insurance for realtors

When things are going well, we often neglect to take the time to think about what we would do if a problem arose. This is a key element of people’s psyche. In many ways, it’s beneficial because it means people can focus on the moment at hand instead of on the hundreds of negative possibilities that could be down the road. However, in reality, this is a luxury. We earn this luxury by being prepared. When you look down the road, see the various possibilities for trouble, and then proactively make preparations to handle them, it then makes sense to sit back and relax. Until this is covered, well, you’re not covered. This is the job of insurance professionals, to provide products that give people peace of mind. However, the need for flood insurance experts, is often overlooked by people, even those who live in areas that are prone to flooding. Here are some tips to keep in mind when considering consulting flood insurance experts.

Check the Area Where You Live

It is important to have a good idea as to your level of risk based on the geographic location of your place of business. Just because a flood hasn’t happened in recent memory, doesn’t mean it won’t occur in the near future. By the same token, having a flood recently doesn’t necessarily mean that is going to be a frequent reoccurrence. By getting an idea as the risk of flooding in the area, you can gauge how serious the concern should be. You can request land surveys that provide this kind of information. You can also keep an eye out for bodies of water in the area that are prone to flooding, or that could flood, given the right conditions. When rain comes in torrential amounts, it still drains, however the rate at which it drains is simply not enough for it to not build up and cause flooding. The elevation of your land plays a big role as well because if the land is too low, your area essentially becomes like a bowl that holds water until it gets too high.

Another thing to look out for when surveying the area in which your place of business rests is its elevation specifically in relation to surrounding mountains and hills. If your business is in a valley, you may get a quick flood, and the flash flood warning may not be enough to give you adequate protection. Insurance services will be especially helpful if you’re not able to get things out in time. Flooding in areas either at the foot of mountains or in a relative valley occurs because the water hits the mountain and goes down its side. The area beneath the mountains essentially becomes like a clogged up spout of a funnel. Everything instantly coalesces in that one area, resulting in flooding. This is why a few years ago, rivers flooded up to 20’ above level in areas of Vermont during hurricane Sandy.

Protect Your Most Valuable Asset: Information

Flooding can destroy flooring, wall components, and of course paint and finishes. But often, the most expensive costs of flooding are the computers people use to store their information. When a flood hits, if computers get hit with even just a small amount of water, they can be completely destroyed. This is because the chips inside the computer need to be kept free from moisture due to shorts that can happen within the tiny circuits they use for computation. A small amount of moisture can be enough to mess up the entire system. Keep the value of this information in mind when you are talking to flood insurance experts.

Protect the Property

The value of a property is certainly a consideration when discussing options with flood insurance experts, but what’s as important is the potential cost of an repairs that would be needed if a flood were to hit. Take into consideration the rate per hour that workers would have to get paid and multiply that by the number of hours as well as the number of workers. The figures rise quickly. That’s why it’s good to be on the safe side when deciding how much flood insurance to purchase. This way, you will have earned the right to rest easy.

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