3 Flood Facts for Commercial Building Renters
3 Flood Facts for Renters of Commercial Buildings
Renting a Big Bear City, CA, commercial building comes with many responsibilities. However, you may not be aware of your duties before and after a flood. Flooding can have a number of sources and may not be covered by basic renter’s insurance. Understanding the facts about flooding, as well as your responsibilities and rights as a tenant, can help you move forward with confidence during this type of emergency.
1. Building Repairs Are the Landlord’s Duty
If you do not own the building where your business is located, then your landlord should be responsible for repairing any flood damage. For example, if water shorted out the building’s electrical supply or damaged the flooring, it is his responsibility to call contractors in to make the necessary repairs. The repair of other systems, such as internet access, air conditioning and plumbing, also fall under your landlord’s accountability.
2. Flood Damage Is Not Always Covered by Insurance
Your renter’s insurance may cover fire or theft, but it is important to understand that most policies do not cover flooding under umbrella coverage. In most cases, you would have to purchase flood insurance that is separate from the policy you carry now. If you rent in an area that is prone to flooding, it may be wise to look into coverage that can protect your belongings and to research the cost of a flood damage and restoration service that can help you salvage important items.
3. Your Landlord’s Insurance May Not Cover You
Having knowledge of your insurance coverage in case of a flood can be vital to the survival of your business after a flood. In most cases, the landlord’s policy does not cover his tenants’ belongings, so it is important that you have effective coverage and update it as needed as you expand your company.
Flooding can devastate your Big Bear City, CA, business, so you may want to take the time to understand the details of your renter’s insurance. The more aware you are, the better prepared you can be in case of a flood.