Flooding is the most common natural disaster in America. However, floods are rarely covered under most insurance plans. A flood can mean tragedy for a business that is not prepared. You can lose money, property, and rack up enough unwanted expenses to cause irreparable damage to your business. You need to plan ahead and set yourself up to survive and recover quickly if and when a flood strikes.
Here are five ways to protect your business from flooding.
1. Flood Insurance
Perhaps the best way to protect the value of your business from flooding is by having proper food insurance coverage. This is especially true if you live in a flood zone. It is important to note that basic commercial property insurance typically does not cover flood damage. You may need to get additional flood coverage to keep yourself protected. The best way to go about this is to start with the federal government’s National Flood Insurance Program. You can research flood insurance companies and policies and even find ways to reduce your flood insurance costs.
2. Business Continuity Plan
One of the biggest ways flooding hurts businesses is when they are forced to shut down until the flooding and subsequent restoration is complete. In some case, the stoppage is business can result in the business closing its doors for good if they can’t recover from the lost revenue and profits. To prevent this kind of financial damage to a business, a continuity plan should be in place. The plan consists of identifying flood risks, assessing critical business components, and backing up critical information and equipment. Check out the Department of Homeland Security’s resources to help protect your business from flooding with a continuity plan.
3. Flood-Proof Design
One of the best ways to prevent flood damage is to be proactive about it when designing and constructing your building. If you are located near a coastline or in a high-risk flood zone, there are certain precautions you can take. Look into elevating your building above the known flood levels. You may also consider installing hurricane-proof windows and storm shutters on any openings. You may need to spend extra money when constructing your building, but the long-term savings and peace of mind far outweigh the costs.
4. Clean and Prep
While cleaning up quickly after a flood is crucial to get your business back up and running, there are several ways cleaning up beforehand can help you. Start by cleaning out any gutters and drains on your building. You may consider installing “check valves” to prevent flood water from backing up into the drains of your business. If your building has a basement, seal the walls with waterproofing compounds. Perhaps the best w2ay to prep for a flood is to start by reading the Ready Business Inland Flooding Toolkit from FEMA.
5. Flood Barriers
If feasible, consider constructing a flood barrier to protect your business from flooding. There are different types of flood barriers to choose from. A metal flood barrier is a great way to protect your business from high-velocity water. These cover doorways and other entries to prevent water from coming inside your building. Water inflated dams are perhaps the best option and can be placed around your property before a flood begins.
Even with all the precautions and planning in place, flooding can still wreak havoc on your business. If your business needs fast remediation after a flood, RMI is here to help. We specialize in water extraction and cleanup services and can help fast-track your business restoration. Talk to us today to learn more about how we can help you.