It's hurricane season - got flood?

It's that time of year again, hurricane season is upon us. According to the National Oceanic and Atmosperic Agency (NOAA) website, they are predicting a 90% chance of normal or above normal activity in the Atlantic this year. Their definition for normal or near normal is a range for major hurricanes at 1 to 3 for the season. Their definition for above normal is a range between 2 and 8 major hurricanes. The reason I bring this up is the fact that many business owners located at or near the shore, or in designated flood zones, aren't currently carrying flood insurance. While not intended to scare you, it's important to realize that your current property/casualty insurance does not cover you in the event of flooding. Take a look around your building/facility, is most of your stock and or equipment, located in an area accessible to water in the event of flooding conditions? Can you afford to self insure this material in the event of a major weather event? You may be surprised at how affordable flood insurance can be. Take the necessary steps now to make sure you have the proper coverage in place before something occurs. By the way, don't bother to call your agent in the event you hear in the local media that a major storm is developing off the coast of Florida. In most cases coverage is not accessible when a storm is already forming and waiting periods can also be involved.

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