Most home flood insurance policies are through The National Flood Insurance Program, and are service my private companies. Unfortunately, the NFIP does not provide coverage for business losses.
Most commercial property policies require a flood endorsement. For specific information related to Disaster and Recovery, see the Insurance FAQ posted here: http://www.ncdoi.com/Consumer/Insurance_Information_By_Topic_-_Disaster_and_Recovery,_Flood_Insurance_FAQs.aspx
Flood damage is defined by most flood insurance policies as damage caused by rising water levels. Rising water levels can be the result of storm surge, water rising from underneath the ground, or rivers that overflow. Insurance company often deny coverage by claiming that the water damage was caused by rain and not rising water levels.
Delaying coverage can cause further damages to your business. Mold damage is almost certain, and will only be made worse, if remediation is not started immediately.
Getting Help If I Don’t Have Flood Insurance
If your business does have flood insurance then your insurance claim will need to be attributed to other causes. When hurricane damage can be caused by more than one cause, often called concurrent causes, insurance companies deny coverage.
FEMA can provide information about low-interest loans for people who have businesses that sustain property damage or economic losses from hurricanes. These loan programs are available from the SBA and the Farm Service Agency of the U.S. Department of Agriculture.
Miller Law Group often hires investigators and engineers to help determine the cause of hurricane and storm related damage. If you have questions regarding the cause of your business damage, contact Miller Law Group.
At Miller Law Group, PLLC, we are guided by the principle of attaining justice for people who have been wronged in their personal or professional lives. To learn more about our services or to schedule a free initial consultation, contact us today by callingor by email. We look forward to making you a part of our team.