Small businesses, which are the economic and often social engine of many communities, can be the adversely affected by floods. Floods can occur anywhere, often with little or no warning, and with devastating consequences. Protecting the bottom-line in order to remain open, or to reopen quickly after a flood disaster, creates an unusual hardship on many small business owners.
The cost of surviving a flood will be passed on to the community as the business owner struggles to survive. Even after the floodwaters recede, the business can remain underwater financially. 40% of all small businesses that experience a flood fail to reopen. In most cases this is a result of the business property insurance not covering the loss from flood damage and the business owner failed to obtain this very important coverage.
