Flood Risks for Businesses

Sand bags floodAccording to the ABI British businesses made 3,100 flood insurance claims and 44,700 storm insurance claims in the first two months of 2014. With the worst of the winter weather just around the corner we look at practical steps you can take to make sure your business stays buoyant.

Don’t be Complacent It’s easy to think that it won’t happen to you, but figures show that three quarters of small businesses were disrupted by severe weather in the past three years. As Liz Parkes of the Environment Agency points out “Most businesses think about fire risks and the truth is that they’re at greater risk for flooding”.

Know the Risks There are an estimated 260,000 businesses at risk of flooding in the country and with global warming the problem is predicted to get worse. Businesses can check whether they are at risk by entering their postcode on the Environment Agency’s interactive Flood Risk Map. To keep on top of the weather businesses in flood-prone areas can sign-up to Floodline Warnings Direct and receive free alerts by phone, text or email.

Surface Water Flooding Remember that your property doesn’t need to be on the coast or near a watercourse to be at risk of flooding. Surface water flooding is a growing problem thanks to changing drainage patterns brought about by questionable urban planning and countryside stewardship.

Make a Plan Planning ahead means you’ll know exactly what to do if your property is flooded, minimising damage, and helping your business to get back up and running. The government has put together a useful Flood Plan Template that’s well-worth downloading and completing.

Get Insured When it comes to providing a financial safety net for your business in times of crisis; a one size insurance policy doesn’t fit all. Instead find a broker who can tailor a bespoke policy to fit your individual business needs.

Quoteline Direct specialises in providing flood risk insurance for businesses covering a wide range of exposures from Buildings and Contents to Stock and Business Interruption. To find out more, or to get a competitive quote, call a member of our dedicated business team on Tel: 0161 874 8020.

Having the right insurance in-place will help in the event of a flood, but there are plenty of practical steps to help minimise flood damage.






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