Flood Insurance vs Wind Insurance

Business man holding umbrella during a storm.

When it comes to protecting your business, there are a lot of factors to consider. One of the most important is choosing the right insurance policy. And when it comes to natural disasters, there are two types of insurance policies you need to know about: Flood and Wind. So which one should you choose for your business? Let's take a look at the differences between these policies and see which one is right for you.

Flood Insurance

Flood insurance is a type of insurance that helps to protect businesses from the financial damages caused by floods. Floods can occur suddenly and without warning, and they can often cause extensive damage to property and infrastructure. For businesses located in flood-prone areas, Flood insurance can help to mitigate the risks posed by these natural disasters. Flood insurance policies typically cover damage to buildings and contents caused by a Flood. While Flood insurance is not required by law, it is often highly recommended for businesses located in high-risk areas. If the property is financed, though, the financial institution that holds the mortgage may require the business to carry a Flood insurance policy if it is located in a flood zone. For these businesses, the peace of mind provided by Flood insurance can be well worth the cost.

Wind Insurance

A comprehensive Wind insurance policy will protect your business from any type of damage caused by high winds, including Hurricanes, Windstorms, Tropical Storms, and Tornadoes. Wind damage can be shockingly expensive to repair, and in some cases, it may even force a business to close its doors permanently. That's why it's so important to make sure you're adequately covered. A good Wind insurance policy will cover the cost of repairs to property, damage to contents, replacement inventory, lost business income, business interruption, and more. In short, Wind insurance is an essential part of doing business in hurricane-prone areas. Don't wait until it's too late to get covered.

Which insurance coverage is right for your business ?

Wind and Flood insurance are two of the most important types of coverage for businesses. Wind insurance protects against damage caused by high winds, while Flood insurance covers against flooding. Although Wind and Flood insurance are not usually required by law, they are both highly recommended. Businesses in hurricane-prone areas should especially consider purchasing Wind insurance, as it can help to cover the cost of repairs in the event of damage caused by high winds. Flood insurance is also a good idea for businesses located in flood-prone areas, as it can help to reimburse for lost inventory or equipment in the event of a flood. Flood and Wind insurance can both be required, though, if the business is financed and the property is located in a flood zone and is not in an ex-wind zone.

Additionally, Flood insurance should be considered along with Wind insurance in hurricane-prone areas as Wind insurance does not cover flood damages caused by a storm. Ultimately, the decision of whether or not to purchase Wind or Flood insurance depends on the location of the business and the type of coverage that is desired.

Get a policy today!

Storms can cause a lot of damage, and it’s important to be prepared for the worst case scenario. If your business is in an area that is prone to flooding or high winds, make sure you are fully insured. Contact your local insurance agent today and find out how you can best protect your business from storm damage.

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