Earthquakes hitting CA; hurricanes impacting LA and residue rain flooding parts of AR, MO, MS and TN; Tornadoes in TX, OK and PA; severe thunderstorms in NY, NJ…
Any business can suffer unexpected losses when natural disasters strike. That’s why it’s important to review your commercial property insurance policy before extreme weather occurs.
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The following gives the business owner a sampling of various forms of coverage as they pertain to ‘Mother Nature’.
Hurricanes are generally covered by a standard commercial policy.
The insurance will cover:
- Damaged windows
- Ripped off roofing
- Water damage, excluding flood damage that is covered separately in a flood policy
It's important to note that if your business is located within a hurricane zone, it will be difficult to get coverage and available policies will be expensive.
Tornadoes are usually covered in a standard commercial policy.This includes:
- Wind damage
- Rain damage
- Hail damage
If your business is located in what is considered a tornado zone will find it difficult to get coverage. Available coverage will be expensive.
Earthquake risks are not included in a standard business policy. Business owners need to acquire a separate policy that protects against any or all of the damages equated to an earthquake’s occurrence.
Though a severe earthquake eruption is uncommon, most commercial policies cover related damage.
- Volcanic explosion damage
- Shock-wave damage
- Ash damage
- Dust, lava destruction
Aside from the state of Hawaii that allows related coverage through the Hawaii Property Insurance Association, any business that is located with a ‘Lava Flow Hazard Zone’ will find it difficult to secure the coverage.
A standard business insurance policy will not cover floods – even if they are caused by hurricanes, tornadoes, heavy rainfall or other weather conditions.
The National Flood Insurance Program was created to protect homeowners and business owners form financial losses incurred as a result of a flood.
For more information about how to protect your business from losses related to a Natural Disaster, speak to the experts at Prime Insurance.
PRIME Insurance is a three-generation family-run independent agency. We’re proud partners with many of the leading companies in the industry – big names, such as ACE, AmTrust, ASI, ASSURANT, CHUBB, CNA, Employers, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. This gives us the ability to provide all forms of nationwide coverage at competitively lowest quotes. Visit us on our online at our insurance website or email us at PRIME [at] primeins [dot] com or call us at 732-886-5751 and HAVE A PRIME DAY™!