Commercial Clients Eligible For Rapid Pay Out Flood Risk Insurance

No restrictions, no exclusions, no limitations

At Higos, we are constantly looking for and developing, new ways to provide our clients with wider and better cover. To ensure our clients have access to the best products on the market, we have partnered with FloodFlash. They are an innovative, rapid pay-out flood risk insurance product.

February 2020 was one of the wettest on record with Ciara, Dennis and Jorge bringing torrential rain and flooding onto the agenda in a dramatic way. Since 1998, we have seen six of the ten wettest years on record and the Met Office expect this trend to continue. Fast forward to 2022 and we are seeing heavy rainfall after a severe drought, making some areas more prone to flooding. This is why we always encourage flood risk area insurance.

2 in 5 small businesses don’t re-open after catastrophic flooding. This statistic stopped us in our tracks. We are determined to offer UK business owners a better solution. So, what does commercial flood insurance cover? We have created a chart which outlines potential concerns for business owners and how our new flood risk insurance partnership can solve them:

Business Flood concerns:                      

  • Difficulty getting cover – Few insurance brokers will offer the protection you need to keep running. As chartered insurance brokers, we go above and beyond to find the right cover.       
  • High excess – We understand companies can’t always afford to pay a huge excess when something goes wrong. We also know some insurers will exclude areas if they are of high flood risk, we only pair with insurers who can help or find alternative solutions to having a higher excess.                                    
  • High Premiums – Likewise, a high monthly payment to protect your business isn't always feasible. Speak to our team about what you can afford to pay for your flood risk area insurance.
  • Ability to carry on trading – Like with all business insurance, we will endeavour to keep some form of trade going, even if your premises are flooded and will discuss under your business interruption insurance your preference as to whether your location is critical or would alternate premises be better to help you begin trading again as soon as possible.  Think about Harrods.  Its location is critical and therefore any repairs would need to be as quick as possible as you could not simply move the store from its iconic location, so their solution would need to involve quick response, drying out and getting their doors open.  Now think about an industrial unit where no customers visit.  Their solution may simply be to choose another location quickly and have the alternative accommodation costs covered while their old premises dries out. 
  • Slow speed of payment – Sometimes weeks and months can pass by before claims are finalised, this can badly affect businesses in the short and long term.


Higos/Floodflash solution:

All those reasons listed above are why we want to provide a solution that genuinely helps your business. We always recommend you use a proper risk assessment plan and get comprehensive flood risk insurance. With Floodflash, we can quote for all areas including previously flood-affected regions.

The main benefits of our bespoke flood risk area insurance are:

  • No Excess - You select your cover level and receive 100% of that amount, so your business doesn’t lose out financially if you are hit by a flood.
  • Very flexible - You choose depth limits, payout amount and control the premium. Just speak to our team of experts to discuss your needs.
  • Speed - 2020 flood victims received their payout on their flood risk insurance just over 24 hours after they were flooded. This provided them with immediate assistance when it was most needed and ensured that the impact on the business was substantially reduced.

As well as a premium policy, we make sure you get help as soon as you need it, all you need is a sensor installed at your premises, which will notify us if you have been flooded.

If you’re interested in speaking to a chartered insurance broker to protect your business, or even get flood risk home insurance, get in contact with us at Higos. We offer fair and independent advice on flood risk insurance for businesses and will make sure you don’t lose income. Give us a call on 01458 270323, if you have any questions or fill out our online contact form and we will call you back.

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For more information on how we can help protect your business