Tag: flood insurance

How to Choose the Right Flood Insurance for Your Business

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Nearly 25% of Gainesville, FL lies in a FEMA-designated flood zone, but the risk of flooding extends to almost every part of town. Carrying flood insurance can help mitigate the damage, but it’s important to choose a policy carefully. Understanding covered perils, inclusions, exclusions, and other factors will help you prepare your business for a worst-case scenario.

Factors to Consider When Selecting Flood Insurance

Coverage Limits

If you own a large or expensive commercial building, sell high-value items, or have costly business assets, it’s essential to ensure your flood insurance policy has a high coverage limit. If your current policy doesn’t meet your needs, consider adding umbrella insurance to fill the gap.

Deductible Limits

Choose your deductible carefully. If it’s too high, you could face significant out-of-pocket costs in the event of a flood. If it’s too low, you may end up paying more than necessary for your flood insurance policy. To strike the right balance, consider how much you can afford to pay upfront in the event of a natural disaster and set this amount as your deductible.

Pairing Flood Insurance with Other Policies

Commercial flood insurance likely won’t cover all flood-related issues your business may face. Pairing it with other policies can provide more comprehensive protection. For example, a business interruption policy can cover lost revenue during a flood. If your business owns vehicles, comprehensive vehicle insurance can ensure they’re covered in the event of flood damage.

Contact Peninsula Underwriters Insurance Agency for Expert Guidance

At Peninsula Underwriters Insurance Agency, we understand the unique needs of businesses across various industries and sizes. We work with business owners in Gainesville, FL, to help them select coverage that fits their needs and budget. Contact us today to learn more or to get price quotes on the policy that’s right for you.

Statistics Say Even People Outside Flooding Zones Should Have Flood Insurance

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No matter where you live, flooding is a risk that can impact nearly every home. Sources like the foodsmart.gov site, a Homeland Security branch, cite that "99% of U.S. counties have been impacted by a flooding event since 1996." These statistics are a significant reason why homeowners in and around the Gainesville, FL, area rely on the experienced team at the Peninsula Underwriters Insurance Agency for all their flood insurance needs and solutions because statistics suggest it isn’t a question of if but when.

Flooding: A Threat Regardless of Your Address

It’s hard to argue with numbers and statistics like that, even if you don’t live in a designated flood zone area. For anyone living in the southern and southeastern US, there’s no need to remind people of the real threat of flooding. Yes, you should get flood insurance, regardless of your address or whether you live in a flood zone or not. The good news is that reputable and friendly agents are available to help you protect yourself, your family, and your home from the damage flooding can cause.

Flood Insurance Solutions for Gainesville, FL Area Homes and Businesses

If you live in or near the Gainesville, FL area and have questions about flood insurance or need coverage for your home or business, we can help. Contact us at Peninsula Underwriters Insurance Agency today to learn more and schedule an appointment for the flood insurance solutions you need and deserve before the waters rise.