The Atlantic Hurricane season is in full effect right now and runs through November 30th. While hurricanes can happen at any time of the year, the period of hurricane season is when conditions for hurricane formation are most favorable.
For businesses located in Northeastern Florida and Georgia, these are the months in which it is critical to not only have a plan for hurricane season but also to revisit your business insurance to make sure your business is properly protected if hurricanes occur.
If you’ve lived in the area long, you understand, all too well, the serious damage hurricanes can cause. The widespread nature of hurricane damage only exacerbates the difficulty of getting materials and repairs in the aftermath of a hurricane when so many businesses and households are similarly affected.
Most companies do not offer specific hurricane insurance for business. Instead, your business owner’s policy (BOP) offers some protection against common threats during a hurricane. This includes things like:
The key with this type of protection, generally included in your BOP, is that it allows your business to recover after a disaster that results in serious damage and long delays before reopening. It does not, however, protect your business from all possibilities related to hurricanes, namely flood damage.
According to the National Hurricane Center, storm surge, storm tide, and flooding are among the top hazards associated with hurricanes. Unfortunately, most business owner’s policies do not protect businesses against flood damage related to heavy rainfall or storm surge/ storm tide. This means you need to purchase your own flood insurance protection.
Flood insurance is available through the National Flood Insurance Program though many businesses find that the coverage is insufficient to meet their needs. Which is why it is wise to work with and insurance and risk management agency that understands the risks and can help you make the best choice for your business needs.
At Bates Hewett & Floyd Risk & Insurance, we can help you assess your needs for hurricane and flood insurance for your business to make sure you have the right amount of protection for your needs. Contact us today to learn more about hurricane insurance for businesses and other insurance protection we offer.
When you think about an independent insurance agency in Northeast Florida, you probably think of a small to medium size office run by a family or a few employees. If you have never visited or been inside Bates Hewett & Floyd, you have not experienced the big picture. With 30 employed professionals (currently seeking additional candidates to join the team) we are one big family (some blood, most not) that spans three offices and are spread throughout the many facets of insurance that Bates Hewett & Floyd.