March 5th, 2014.
Has your business been affected by the recent UK floods?
The UK has been battered by wind and rain this winter, resulting in floods for many parts of the country. Private properties, landlords and businesses alike have all been affected by the extensive flood damage and are now in the wake of a very expensive clean-up. If your business has been affected by the adverse weather then there are a few options available to you:
Contact your insurer
It’s important to contact your insurance company as soon as possible after being flooded. Your insurer will be able to talk you through the next steps to take in preparation for making a claim.
Depending on your policy, you may be able to receive compensation for loss of profits as well as the actual damage caused. Your insurer may also be able to arrange temporary business premises in order to minimize the time you are closed.
In the aftermath of a flood it’s important that you:
• Don’t throw anything out: Although you may have many items that are ruined by the floods and deemed useless, it’s vital that you don’t throw them out. Keep everything inside your premises for the insurers to assess.
• Take photos: Snap a few photos of the extent of the damage; you can always email these to your insurer so they have a better understanding of your situation.
Take a look at this helpful video from the BBC on claiming on your business insurance:
The government has announced a £10 million scheme to help SMEs affected by the winter storms.
According to the scheme: “Both businesses that have been flooded, and businesses that are in affected areas and have suffered significant loss of trade, will be able to apply for support. Eligible businesses will be able to claim for funding for things like immediate clean-up costs, materials, and exceptional costs to help them continue trading.”
A government helpline has been set up for those businesses that have been affected by the floods; if your company has suffered then give them a call on 0300 456 3565 to find out what assistance is available to you.
Being fully informed and prepared can help for future flooding; the Environment Agency encourage businesses to prepare a flood plan which contains useful information, strategies, and checklists of procedures. They also advise those in high flood-risk areas to sign up for Floodline Warnings Direct – a free service that issues warnings via phone, email or SMS.
Has your business been affected by the recent floods? What level of support have you received?