What Business Owners Need to Know About Coverage
Hurricane season brings real risks for Louisiana businesses — wind damage, flooding, power loss, and supply interruptions. This guide walks through what your coverage should include before the next storm.
1) Property Coverage
- Named-storm or hurricane deductibles: Many policies apply a separate percentage deductible for named storms.
- Building and contents limits: Confirm they reflect current replacement costs.
- Outdoor property: Signs, fences, awnings, rooftop HVAC, and inventory stored outside.
- Ordinance or Law coverage: For code-required upgrades during repairs.
2) Business Interruption
Business Income coverage replaces lost revenue and covers ongoing expenses if a storm forces you to close. Includes Extra Expense (temp space, overtime), Civil Authority, and Utility Service Interruption extensions.
3) Flood Insurance
Most commercial property policies do NOT cover flood. Options: NFIP or private-market policies. Waiting periods may apply — plan ahead. More info: fema.gov/flood-insurance.
4) Inland Marine Coverage
Covers tools, equipment, and property in transit — essential for contractors. Ask about contractors’ equipment floaters, installation floaters, and off-site storage coverage.
Storm-Ready Checklist
- Update inventory photos and receipts — store off-site or in the cloud.
- Back up critical records.
- Secure outdoor items.
- Review deductibles, exclusions, and waiting periods with your agent.
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