It’s common to assume that most commercial insurance policies automatically include natural disaster coverage. However, industry standards dictate that this is not typically the case. Instead, companies will need to add natural disaster coverage to their initial plan. The Sellersburg, IN area often experiences flooding and tornadoes. A representative at CXE Insurance can help discuss your options.
What Is Classified As a “Natural Disaster”?
A natural disaster is damage to a company’s property or infrastructure caused by natural and environmental causes. Insurance policies for natural disasters may not cover natural events that cause minimal damage, and damage caused by human actions also does not fall under natural disasters.
Types of Commercial Natural Disaster Policies
Natural disaster coverage is not a one-size-fits-all policy. The type of coverage a business will need primarily depends on its location. For example, a company located in California may want to consider getting earthquake and fire coverage instead of tornado coverage.
Here are the different types of natural disaster policies:
- Hurricanes
- Earthquakes
- Floods
- Tornadoes
- Fires
Options for Comprehensive Natural Disaster Coverage
Though specific natural disasters are expected, sometimes opting for an all-inclusive type of coverage proves better. We often encounter companies that are not aware they can bundle different types of natural disaster coverage with various insurance types. It may sound a bit confusing, but we are here to clarify.
Types of bundled natural disaster insurance:
- Catastrophe insurance
- Special catastrophe insurance
- Flood Insurance
- Umbrella Insurance
Should Natural Disaster Coverage be Included in Commercial Insurance?
Most companies will greatly benefit from adding natural disaster coverage to their policy. It only takes one incident for businesses to suffer significant financial loss possibly. We at CXE Insurance understand that natural disaster coverage can be daunting. Our representatives are here to help. If you’re located in the Sellersburg, IN, area, call our professionals at CXE Insurance.