Flood Insurance For Homes And Commercial Buildings

Understanding Flood Insurance For Homes And Commercial Buildings

Flooding is one of the most common natural disasters occurring in the state of California these days. Unfortunately, many home and business owners do not realize that coverages for damages caused by flooding are not generally included in most insurance policies. Your home or business is more than likely one of your most valuable resources, and it is imperative to protect that asset. If you want to know more about protecting your home or business from flood damage in San Diego, California, Windfall Insurance Services Inc. is here to help. Continue reading to learn more about understanding flood insurance for both homes and businesses.

How Does Commercial Flood Insurance Work?

Commercial flood insurance is intended to help protect businesses from flooding damage and covers both the physical location of the business as well as items inside of the business. It is likely that flood insurance won’t be embedded in your overall commercial business insurance policy, so you should expect to obtain this in addition to your regular business insurance. It is important to note that commercial flood insurance typically will not cover incidents such as sump pump backups, damages to business vehicles, or financial loss from business interruptions. Commercial flood insurance usually will, however, help pay for the following damages that are caused by flooding:

• Appliances, such as refrigerators, ovens, etc.
• Plumbing and water systems
• Solar equipment, water heaters, and furnaces
• Windows and permanently installed items such as carpet, bookcases, and paneling
• Portable air conditioning units

How Does Homeowner Flood Insurance Work?

Like commercial flood insurance, homeowner flood insurance is also generally not included in a general homeowners insurance policy. This type of flood insurance will also need to be purchased separately, and will help financially protect the home structure, as well as the contents inside the home. Even though it is an extra expenditure, flooding is becoming more and more common and can happen anywhere, and has the potential to result in extremely expensive damage. Having the right type of flood insurance is crucial to giving you the peace of mind that your house and your valuables are protected against this type of natural disaster. Flood insurance policies will cover the following scenarios in which there is excessive water exposure to land that is typically dry, such as a hurricane surges, melting snow that affects a home, mudflow, heavy rain that accumulates faster than can drain, or when a river or lake overflows, causing damage to the home.

Flooding incidents can happen anywhere, and have a huge impact on the wellbeing of your home. If you are located in San Diego, California, and want to know more about flood insurance policies, contact Windfall Insurances Services Inc. today for a consultation.