5 tips to ensure your business insurance pays out in the event of a flood

With hundreds of flood warnings in force across England and Wales, it is important that business owners make sure they have adequate insurance in place to help protect them in the event of flooding.
Here are five things you can do to make sure you have the right cover:

  1. Check that your business insurance policy covers you for flooding.
  2. Look at your business insurance schedule and review the values for buildings and contents.
  3. Check that your business insurance policy includes business interruption cover. (This type of cover can enable you to keep trading whilst the building is being repaired. It covers loss of profits and pays operating expenses. Some policies cover the extra expenses for the use of a temporary location.)
  4. Check that the amount insured under the business interruption section is adequate.
  5. If your business insurance policy has a stillage condition – a requirement that stock be stored off the floor on pallets or metal racking –  make sure that you are complying.

If you are unsure about any of the above, speak to an independent business insurance broker, who will be able to help you.

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