What are the key risks posed by flooding?
Flooding can have a devastating impact on your small business, causing damage to your premises, fittings and fixtures, plant and equipment and stock and disrupting your ability to trade.
Even businesses outside of the flood zones can feel the impact of flooding, with supply chain disruption affecting their ability to access goods and demand surge increasing the difficulty of accessing some services.
“Flood insurance covers the situation when normally dry land is covered by water that has escaped or released from a lake, river, creek or other natural watercourse, or a reservoir, canal or dam.”
Flood Insurance, Understand Insurance, Insurance Council of Australia
Who should consider it?
While you can’t control the weather, insurance can help to protect small businesses across Australia from the risks posed by flooding to both their premises and trading. Any business located on a creek, lake or river should consider adding a flood insurance extension to their property policy.