Why choose IOA for commercial flood insurance?
IOA’s expert advisors can examine your needs from every angle. A standard commercial property policy won’t give you the protection you need. IOA can help you understand your risk and find solutions through the government-backed plan or on the private market.
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Expert guidance
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Navigating the specifics of flood insurance requires expertise. IOA advisors bring in-depth knowledge and experience in flood coverage, both through the government and through private insurers.
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Customized coverage
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We understand that every business is unique. That’s why we search for flood insurance solutions to provide the specific level of protection your business requires.
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Proactive protection
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Our team helps you stay ahead of the risk by offering risk management advice and access to various flood insurance products.
The NFIP and waiting periods
The National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency (FEMA), provides most flood insurance. There is a waiting period, usually 30 days, for most policies. This delay means strategic planning is vital to ensure your business is covered before flooding becomes imminent. That’s where IOA comes in. We can help make the process as smooth and efficient as possible.
Does my business need commercial flood insurance?
Typically, commercial property insurance does not cover flooding—including flooding from storm surges. You should consider commercial flood insurance, especially if your business is located near a body of water or in a low-lying area.
Businesses in flood-prone areas
Flood insurance is usually required by mortgage lenders for properties in designated flood zones, but businesses downstream from dams or reservoirs also may be wise to secure flood coverage.
Locations with snowy winters and warm springs
Businesses in areas with cold, snowy winters followed by warm springs are at increased risk of flooding due to snowmelt.
Moderate to heavy rainfall regions
Businesses in areas that experience moderate to significant annual rainfall should consider flood insurance to help pay for losses caused by floodwaters.
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