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Flood insurance: Why it's time to get covered.

Floods happen, and they can be exceptionally costly events.  That’s why individuals and business owners should consider flood insurance if in a flood-prone area. For one thing, standard homeowners and businessowners policies typically will not provide coverage for flood damage.
Individuals and Business owners can get flood coverage through the National Flood Insurance Program (NFIP), a government-sponsored initiative to ensure flood coverage through private insurers. The NFIP is a good place to start when it comes to getting the basics on flood insurance and flood risk. Its website,, is loaded with useful information, including the average cost of coverage and a summary of what’s typically covered under in a flood policy.

Flood insurance will cover the physical damage to a structure caused by flooding. That can be a big lift for a business putting the pieces back together after water damage. According to the NFIP, the average commercial claim for flood damage was $90,000 from 2011-2015. However, flood insurance doesn’t cover business interruption costs; in that case, business interruption insurance would come in quite handy.

Given the complexities of flood insurance and other coverage, a skilled insurance agent or broker can make all of the difference when it comes to protecting your business. Not having enough coverage — or lacking coverage, period — is a problem no one wants to face when disaster strikes, with Hurricane Matthew another all-too-common case of weather wreaking havoc.

For questions about flood insurance and other property & casualty coverage, contact a Plexus client service team member at 847-307-6100 (Deer Park, Ill.), 312-606-4800 (Chicago – Loop), 972-770-5010 (Dallas) or 405-840-3033 (Oklahoma City), or contact us via the Web. We’re here to help – and we’re happy to help.