Flooding has caused unprecedented damage and stress to business owners across the country in recent years. Businesses in high-risk areas have been denied business flood insurance in the past, leaving them vulnerable to a situation out of their control.

We are proud to offer a completely new type of flood insurance, which is only provided by a small number of brokers.

What is flood insurance?

Flood insurance provides your business with a payout that can be used in the event of serious flooding which impacts property, interrupts trading or damaged contents.

Many small and medium-sized companies have struggled to obtain the insurance they desperately need because they are located on floodplains or have flooded in the past.

We think this is unfair and recognise the importance of British Insurance Brokers’ Association (BIBA) in developing a transformative commercial flood insurance scheme. We believe business and property owners should be able to buy flood insurance that is risk assessed for their individual needs, wherever they are located.

Why do I need flood insurance for my business?

Sutcliffe & Co, have also lived through Worcester’s flooding, so we understand the importance of specialist commercial flood insurance during such a difficult and worrying time.

Despite substantial government funding for flood defences, worth £2.6 billion by 2021, businesses and properties are experiencing ever-more damaging flooding as a result of climate change. We know that business owners and landlords can’t simply wait for infrastructure projects to be in place to protect their properties. They need insurance against the specific risks they face, this year and every year.

Who can benefit from commercial flood insurance?

Traditionally, flood insurance for businesses or landlords has meant expensive premiums, prohibitively high excesses and a lot of paperwork and evidence to submit a claim. For businesses in areas at risk from coastal or river flooding, it may be impossible to get flood insurance at all.

It is time for a flood insurance revolution and Sutcliffe & Co Insurance Brokers has the answer. We are one of only a handful of insurance brokers across the country that has access to a completely new type of flood insurance: one that removes the uncertainty and time usually associated with traditional flood insurance. This is authorised and regulated through BIBA.

This specialist insurance is designed to help small and medium businesses in high flood risk areas and has been developed in association with DEFRA who have created a useful guide.

Benefits of commercial flood insurance with Sutcliffe & Co

Our business flood insurance offers an innovative combination of technology and simplicity. The cover is based on a straightforward set of steps, agreed with you in order to achieve the perfect cover for your business or rental

  • Depth – you select the depth of water that would cause flood damage
  • Payout – you select the amount of money you would receive if the water reaches the agreed depth
  • Sensor – an electronic sensor is installed on the outside of your building (it looks like a drainpipe so shouldn’t cause any aesthetic impact)
  • Trigger – if flood water reaches the selected ‘trigger’ depth, the sensor transmits a message and payment is arranged

We are proud to offer this essential product, which is based on a pre-agreed target depth of floodwater. That means that there is no need for customers to spend hours answering questions and going through policy documents. You get the protection you need immediately – avoiding the panic, delays and paperwork that has accompanied flood insurance claims in the past.

What does commercial flood insurance cover?

The payout does not come with conditions – you can use it for any purpose, including:

  • Covering losses from business interruption
  • Replacing damaged stock
  • Costs from damaged crops
  • Pitch reseeding
  • Repair costs

The premium can be tweaked by adjusting the ‘trigger’ depths and payment amount – and there can be 5 trigger depths, giving further payouts if the flood level rises.

Unlike other insurance policies, there isn’t the issue of ‘dual insurance’. This means businesses and landlords can buy flood insurance in addition to an existing building insurance policy, perhaps to help with the large excess.

Alternatively, this could be used to replace the flood element of your company’s business insurance cover and
significantly reduce the overall premium.

What can I do to protect my business from flooding?

Along with the right flood insurance broker, there are plenty of practical steps you can take to protect your property:

  • Sign up for the Environment Agency’s Floodline Warning Direct service
  • Create a business or rental property flood plan, including:
    • measures to stop water getting into the building, such as flood boards or air-brick covers
    • measures to limit the damage caused by floodwater, including cleaning floors and contents
  • Arrange for an independent flood specialist to carry out a risk assessment

We know that our customers rely on having the right protection in place so that when the worst happens, their business is protected. Our insurance can be tailored to the specific needs of each individual business so that owners can experience the reassurance that commercial flood insurance can offer.

We can help advise on how our commercial flood insurance could help you and your business. Give our team a call on 01905 21681 or contact us.

Get in touch to see how we can help you, your business & your property