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Flooding is becoming more and more common in the UK – and the effect ever increasing. Storms are more frequent and have an ever increasing impact. In many areas, it can now be difficult to obtain flood risk insurance for your business as part of your commercial insurance package.
We can offer a different solution. FloodFlash is an event-based flood insurance product available to businesses and landlords providing cover in locations that otherwise struggle to secure affordable policies due to their risk of flooding.
Provided in partnership with
With more and more parts of the UK being hit with year-round floods, the likelihood of your business or rental property being affected is increasing. And if you’re property is located in a flood risk area, it may be difficult – even impossible, to take out flood risk insurance.
Once flood water enters a building- whether it be an office, industrial unit, a rental property or even surface water flooding the external areas or grounds , there will be an immediate and potentially significant impact on the business. Even if the premises itself remains dry and above the water level – what if you, your staff and customers can’t gain access due to your car park or private access road being underwater?
If you’re unable to continue to operate, you need an insurance solution that pays out quickly so you can get concentrate on getting the business going again.
Getting your required level of flood protection insurance has long been a complicated process for businesses. Working in partnership with FloodFlash, our team can provide you with flood insurance cover quickly and more importantly, cost-effectively. The entire process from taking out cover through to making a claim is streamlined and simple, leaving you the time you need to run your business.
FloodFlash offers parametric insurance which is available to businesses and professional landlords. Each policy is linked to a mobile-connected sensor installed at the property. The sensor then reports any flooding. When the agreed trigger-depth has been reached, the sensor alerts FloodFlash and the claims process begins – no documents required.
You choose the trigger depth and payout value for your policy. Your location, business type and the height of business crucial elements, such as electronics or even your stock, will determine the ideal depth.
Our team of experts are on hand to help you and your business if you need advice in getting the correct level of cover.
Verifying any flood claim can be cumbersome with lesser flood protection policies.
A FloodFlash engineer will visit your business to connect a flood sensor at your property, in the event of a claim the sensor will provide all the verification needed.
As soon as the installed sensor confirms the chosen trigger depth has been reached by a flood, payment will be arranged.
FloodFlash policies are for businesses and rental properties operated through a company – not domestic homeowners.
Yes. Although your standard commercial or property insurance may exclude flood cover, FloodFlash policies are available anywhere in the UK (excluding Northern Ireland). Quotes can be provided in in 99% of cases, regardless of flood history.
FloodFlash aim to pay all claims within 7 days. In most cases, where the sensor data can be easily validated, the claim will be paid much faster.
You can use the FloodFlash payout in whichever way you feel is best to get your business up and running again. That could be renting alternative premises, repairing crucial equipment that’s been damaged – or hiring a replacement, or simply dealing with the immediate impact of having flood water in your building.
You can choose to have just one trigger depth or up to three trigger depths – each with their own pay out value attached. Having multiple trigger depths can significantly reduce the premium.
FloodFlash policies cover all naturally occurring floods, including floods caused by heavy rainfall or melting snow, rivers bursting their banks, groundwater and storm surge along coastlines. It even covers flooding caused by dams or canals overflowing or being breached.
FloodFlash doesn’t cover flooding due to burst pipes (sometimes called escape of water). It is likely that this is covered under your existing insurance and our team will be happy to discuss this with you.
The FloodFlash sensor is powered independently, and uses mobile communications to send any data. This ensures that a sensor will remain fully operational during a flood event, even if you lose power at your property.
To make installation easy – and safe, particularly whilst we’re living with COVID-19, the FloodFlash engineer will install the sensor for you. The engineer will arrive on site on the day of installation with the sensor and the installation can be overseen from a safe distance.
*Statistics From FloodFlash Commercial Risk Report
In early 2020 Storms Ciara and Dennis swept through the UK. Many businesses were flood-damaged as a result, and those covered with FloodFlash had claims paid out in a matter of days.
The quickest payout happened at this time, just 26 hours and 15 minutes after the FloodFlash sensor detected water levels rising.
The rapid, pre-set payouts from their policies gave them the means to reopen their businesses far faster than a traditional flood insurance policy every could.