Do Midland TX Business Owners Need Commercial Flood Insurance?

Texas law doesn’t require business owners to purchase commercial flood insurance in Midland, TX. However, this type of insurance shouldn’t be automatically dismissed as an unnecessary expense. While Midland County doesn’t have widespread flooding problems, some areas of Midland are at a higher risk of flooding than others. If your business is based in a part of town that is prone to flooding, a commercial flood insurance policy will protect you from total loss if a flood occurs. Furthermore, if you lease a commercial building, your landlord may require that you purchase flood insurance. Entrepreneurs who run a home-based business will likewise want to purchase commercial flood insurance to protect valuable business assets stored in the house, as home insurance doesn’t cover items or activities related to commercial ventures.

What Does Commercial Flood Insurance Cover?

Commercial flood insurance covers water damage to your building, its plumbing, and electric fixtures such as an HVAC unit. It also covers damage to and loss of business machinery, inventory, equipment, and furniture. Moreover, it can provide compensation to cover the cost of cleaning up after a flood and taking measures to prevent future floods. However, to qualify for coverage, the flood must be caused by an act of nature. Flood insurance policies don’t cover burst pipes or floods caused by plumbing problems.

Contact Ledford Agency LLC to Find Out More about Policy Options

At Ledford Agency LLC, we specialize in helping Midland, TX business owners find great commercial insurance policies at a great price. We sell commercial flood insurance as a stand-alone policy but can also help you bundle this type of insurance coverage with other policies if need be. Contact us today for more information or to get a policy quote.