Flooding is the most common natural disaster in the United States—and the costliest, according to data from the National Flood Insurance Program, Beall Brewery Insurance announces.
According to NFIP, 90 percent of disasters in the U.S. involve flooding. In recent years, annual total flood insurance claims have averaged $4 billion—and that number is rising. The average commercial flood insurance claim has been close to $90,000.
While certain areas of the country are more prone to flooding—the East Coast and the South, which are vulnerable to hurricanes, for instance—flooding can occur anywhere. Even California, long suffering from a drought, can experience flash floods in the event of rain hitting the parched earth, which can’t absorb it. And, of course, a plumbing problem can cause a leak and resulting flood inside a structure, whether or not there’s any precipitation outside.
This is the time of year when many business-owners focus on flood prevention, striving to face weather situations ranging from spring thaw of winter snow to spring showers.
What makes this issue of particular concern to craft breweries is the fact that most business insurance packages do not include flood insurance, which must be purchased separately or added as an endorsement.
You can determine whether your brewery’s location puts it at greater risk of flood by finding it on a flood map. (But here’s an important point to consider: 20 percent of flood insurance claims come from areas that are considered at low or moderate risk of flood.)
You can also protect your brewery by performing regular checks on pipes and hoses, valves and drains, to make sure everything is working properly, that there are no leaks, and that waste liquids are draining properly.
If your brewery is in an area prone to flood, establish a storage system that elevates materials, tools, and supplies to keep them dry and safe in the event of flood.
And if you have questions about flood insurance for your brewery, Beall Brewery Insurance is happy to answer them.
For more than 25 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of niche businesses, such as craft breweries, that require specialized insurance packages and knowledge. With California offices in Redlands and Newport Beach, Beall Financial and Insurance Services serves clients nationwide.