Business Flood Insurance

What is business flood insurance?

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A flood can cause many issues within a business, such as property damage, damage to goods and furniture and can disrupt business operations causing loss of revenue. Specialist business flood insurance allows businesses to take out a separate policy to protect themselves and their company in the event of a flood.

Despite all of the negative media coverage, in many cases, it is still possible for businesses affected by flooding to find business flood insurance. Cover can include the costs of cleaning up after the flood has receded, plus the costs to your business of getting up and running again - including business interruption insurance.

Coffee Roasters Business Insurance

Business property can be insured against flood damage, even if it has been previously flooded or is situated on a flood plain

Why use business flood insurance?

Many businesses may find themselves denied insurance from regular providers if their business is situated on a floodplain or their premises has been flooded in the past. All businesses, despite their location, should have the ability to acquire insurance that fits their needs and requirements. Fortunately, specialist flood insurance for commercial properties can help. Those who are fortunate enough to be granted cover are often met with exceptionally high premiums and high excesses.

Although the government has invested heavily in recent years in flood defences for towns and cities in the UK, many businesses are still at risk of flood due to increasing climate change. Unfortunately, companies cannot rely solely upon new infrastructure to protect themselves.

Other possible effects on your business may include the cost of short term alternative business premises, replacement of flood damaged stock or business equipment, as well as lost staff wages.

What does business flood insurance cover?

Business flood insurance typically covers:

  • Buildings insurance: Covering repairs to the business premises itself, its structure, fixtures and fittings
  • Contents insurance: Protecting your business’s furniture and contents
  • Business interruption insurance: If your business is closed following a fire or flood, business interruption insurance can cover some of the income lost.
  • Stock insurance: Covering the replacement of damaged stock

Flood risk home insurance

If your home is attached to or near your business, you may also require specialist flood insurance for your home. If you’re looking for this type of support, please visit our high-risk flood home insurance page.

How can QuoteRack help with business flood insurance?

QuoteRack works closely with insurance brokers who can offer you access to specialised schemes offered by niche insurance companies offering business flood insurance.

Business flood insurance - frequently asked questions

How can I protect my business from flooding?

As well as relevant business flood insurance, businesses can protect themselves from flooding by:

  • Arranging a flood risk assessment
  • Create a flood risk plan for your business
  • Sign-up to the Government's flood warning service

How much does business flood insurance cost?

As with any business, your quote will depend entirely on your individual business case. Many factors can influence the commercial flood insurance quote you receive, such as:

  • Your annual business turnover
  • The level of cover - public and/or employers liability - you require
  • The type of business and value of stock carried
  • Your proximity to standing or flowing water - lakes, rivers etc
  • Previous flood events
  • Previous flood claims experience

What other types of insurance should I have?

As a business owner, there are several other insurance types that may be beneficial to your business, such as:

Enquire through QuoteRack for business flood insurance

If you own a business at risk of flooding and you are looking to insure it, QuoteRack's specialist insurance brokers will help you - just hit the 'Compare Quotes' link to complete your details online.

Business Flood Advice

The following documents have been prepared by the Environment Agency and by the Association of British Insurers - you may find them helpful when considering the potential risks to your business premises of a flood, as well as how to limit the damage a flood can do to your business.

Business Flood Insurance