Posted on May 19, 2014

How Hurricanes & Flooding Affect Vermont Business Insurance Coverage

Vermont hurricane business insurance

When Tropical Storm Irene hit Vermont in August of 2011, the state experienced one of the most destructive events in almost 100 years. The storm caused heavy rains with some areas receiving 11 inches and left hundreds of homes, roads and bridges beyond repair or utterly destroyed. Many communities were without power and phones for days, and whole towns were completely cut off from the outside world.

When events such as hurricanes, severe storms, hail and flooding hit an area, the effects can be far reaching as was the case in Vermont. Citizens that were able to weather the storm were those who were most prepared for emergency events, and when normalcy finally returned, they were able to repair and rebuild because of having the right insurance protection.

Vermont business owners with appropriate commercial property insurance did not have to be concerned about damage to their valuable business assets. Commercial insurance provides the safety net to keep businesses from financial ruin after the physical destruction by weather related circumstances. For events like storm surges and hurricanes, many commercial property policies do not provide coverage. Windstorm coverage must either be added by endorsement to existing policies or purchased as a separate policy. Some insurance companies restrict the amount of insurance they provide to high risk coastal communities even though those areas often need this vital protection the most.

When hurricanes and storms lead to flooding, it is also necessary to have flood insurance to protect from damage caused by rising water, backed up sewer systems or storm surges that flood water into building. The National Flood Insurance Program (NFIP) writes flood insurance policies for high risk areas with limits up to $1 million for business property - $500,000 in coverage for buildings and another $500,000 for building contents.

Vermont businesses need to ensure that comprehensive commercial insurance policies are in place to fully protect their companies from unexpected natural disasters and man-made events. Hurricane and flooding, as evidenced by the 2011 destruction, are among policies that are a must for Vermont companies, especially those situated in high risk coastal communities. Speak with one of our professional agents to learn more about obtaining the commercial insurance company you need to protect from any type of event that could potentially bring damage or injury to your business.

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