Flood Excess Insurance

Does your commercial or rental property insurance have an eye-watering excess for flood damage? Talk to the experts at Glowsure about flood excess insurance to protect your business from financial difficulty.

Flood Excess Insurance

Glowsure – flood excess insurance brokers

At Glowsure, we understand it’s hard to find reasonable flood insurance for commercial properties, especially if they are in a high-risk area. The excess can run into four or even five figures, leaving business owners frustrated and at significant financial risk.

However, there is a way to protect your business from expensive flood repairs.

You can benefit from taking out flood excess insurance cover, which provides vital financial protection for your business if the worst happens and your property is damaged by flood water.

As your friendly, neighbourhood insurance broker, Glowsure is dedicated to helping you protect your property, business and livelihood. Our knowledgeable team has all the answers to your questions about flood excessinsurance for commercial properties and is standing by to offer assistance.

Contact us today to get started.

Is your commercial property in a high flood-risk area? You can check on the gov.uk website. Also, check out this helpful Business Guide to Flood Resilience.

What is a flood excess insurance policy?

Many commercial building or Flat Owners insurance policies have restrictions when it comes to flood cover, such as a high excess, i.e. the amount you have to pay towards a flood claim. This is due to the growing number of flood claims in the past 20 years or so which, sadly, is predicted to continue thanks to global warming.

While the Flood Re scheme is in place to provide help to homeowners in high flood-risk areas, unfortunately, there is no such government help available to businesses.

However, flood excess insurance can help mitigate the risk of expensive flood repairs. It is a separate insurance policy, taken in addition to commercial building insurance. When you make a flood claim, your flood excess insurance simply covers the cost of the excess, saving you from a hefty outlay.

How does flood excess insurance work?

If you are unlucky and flooding causes damage to your commercial property, your standard building insurance policy kicks in to cover a portion of the damages. However, you’re still left responsible for a significant excess amount. We see higher and higher excesses imposed by insurers as more properties are considered in a high flood risk area. At Glowsure Insurance Brokers, we have personally seen flood excesses imposed by insurers as high as £50,000. Imagine having to pay such a large amount out of your own money!

Flood excess insurance fills this gap by covering the excess costs. Subject to your claim being validated by a loss adjuster, the excess cost is settled by your insurer, allowing you to focus on repairing your property without financial strain.

What does flood excess insurance cover?

It’s important to distinguish between a ‘flood’ claim and an ‘escape of water’ claim. ‘Flooding’, according to insurers, is caused by naturally occurring events outside of the insured building, including heavy rainfall, storms, high tides or burst river banks. ‘Escape of water’ is caused by internal issues like burst pipes.

Therefore, flood excess insurance specifically covers the excess on valid ‘flood’ claims. It reimburses you for the portion of the flood repair costs that is not covered by your standard building or flood insurance.

Who is eligible for flood excess insurance?

Flood excess insurance is available for all types of commercial property owners, including:

  • Landlords

  • Owners of commercial properties, such as blocks of flats, offices or warehouses

  • Owners of holiday homes

Why choose Glowsure insurance brokers?

With Glowsure’s expert guidance, you can rest assured knowing that your business is protected from the financial cost of flooding. We can find you a suitable flooding excess insurance deal, even if your business is in a high-risk area.

Ready to shield your business from flooding? Act today and contact Glowsure to get started.

Frequently asked questions about flood excess insurance

No, flood insurance is a type of policy that covers the overall cost of flood damage. It is usually included as part of a standard building insurance policy.

Flood excess insurance specifically covers the excess cost of flood repairs, i.e. the portion of the cost not covered by your standard insurance policy.

Yes, you can purchase flood excess insurance as a standalone policy, subject to the insurer’s criteria. Commercial property that has not flooded more than once in the last 5 years and can typically obtain cover.

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Glowsure were fantastic and efficient at arranging buildings insurance for my block of flats. I would highly recommend them. An excellent and competitive service. Thank you!

Glowsure sourced an excellent quote quickly for buildings insurance and happily followed up on the various queries from myself and the other owners. They dealt with those queries promptly and explained things very clearly and provided better cover at a better price and generally made the process much less stressful and difficult than is often the case. Very patient, polite, friendly, and extremely helpful and provided an excellent service. I have every intention of looking to Glowsure to sort out all my insurance requirements from now on and am delighted Wes was able to help.

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