Operating a business in Honolulu, HI, necessitates comprehensive commercial insurance to safeguard against potential liabilities, damages, or injuries that might occur on your premises. As you set up your business in Hawaii, securing the appropriate insurance policy is vital for optimal protection. Regrettably, conventional commercial insurance does not cover floods and natural disasters. However, collaborating with an agency like Innovative Insurance Resources can help you find suitable policies that offer extended coverage when you need it the most.
Conventional Commercial Insurance
In Hawaii, conventional commercial insurance does not cover natural disasters, including significant floods. Traditional commercial insurance offers protection against fire, theft, and even vandalism in most cases. Currently, standard commercial insurance does not protect business owners from floods, hurricanes, or earthquakes that may occur in Hawaii.
National Flood Insurance Program (NFIP)
If you’re considering flood insurance in Hawaii, the National Flood Insurance Program (NFIP) might be a good option. The National Flood Insurance Program covers flood damage and unexpected flooding disasters that could damage or infiltrate your business premises. Consulting with your preferred agency can help determine whether a federal program like NFIP is the right choice for you.
Private Flood Insurance
Securing private flood insurance is a viable option for business owners in Honolulu. Private insurance policies may offer more flexibility and customization. If you’re looking for an alternative to NFIP insurance policies, consider a private flood insurance add-on.
Whenever you’re starting a business, securing the right insurance policy is crucial for protection and peace of mind. If you’re based in Honolulu, HI, we’re here to assist. For more information, contact Innovative Insurance Resources so we can help design a commercial, flood, and disaster insurance policy that suits your needs.
