How Much Flood Insurance Should I Carry When I Have a Home-Based Business?

At Smoller Insurance Agency in Boston, MA, we provide competitive flood insurance quotes to help keep your home-based business running. 

Here are some facts that you need to know:

Historical Flooding Near Newton and Boston, MA

According to the National Weather Service, the Boston and Newton region has seen nearly 15 inches of historical precipitation in a month, flooding many ground floor and basement offices and homes. Moreover, business disruptions due to power outages and equipment damage cost the city of Newton and the Boston area $75 million during flooding in 2010. But flooding does not have to be deep or extensive to be expensive.

Flood Damage and Business Disruption

Zakia Sultana and others at the GFZ German Research Centre for Geosciences define business disruption as lost income caused by the inability to provide or receive services, economic output, or profit. For example, a flood may cause lost inventory and damage your location, but real damage occurs afterward. From delivery delays to supply-chain woes, your business reputation for getting things done right and on time could suffer for months.

Assessing Your Commercial Flood Insurance Needs

At Smoller Insurance Agency, we know how crucial getting your business back into operation after flooding can be. And your homeowner’s policy will not cover flood damage. You need a commercial flood insurance policy if you have a home-based business. We can help you decide how much coverage to buy based on how flood damage could affect your home-based business. For example, a ground-floor home office in a 1932 building could require over $400,000 to replace.

Get Flood Insurance Today

Contact us today at Smoller Insurance Agency before the next flood for a free consultation about your commercial flood insurance needs.