Finding motor trade insurance that includes comprehensive flood cover can be difficult. Many garages across Britain are in industrial areas with significant flood risk. FloodFlash rapid-payout flood insurance is available for all businesses in the motor trade. It is fast, easy and flexible cover for your property, equipment, stock or business interruption. And this new cover acts as an add-on to your main policy – so no need to buy expensive bundles just to get flood cover included.
Business owners across Britain already use FloodFlash for their flood risk. In fact, it is already being used for specialist tuning shops and large scale car lots. Here are five reasons why…
Floodplains are a very attractive place to choose for a garage. Converted warehouses next to watercourses and old mills adapted to house an industrial estate are popular sites for motor trade businesses. The benefits are large flat areas with good transport links historically. The drawback is the flood risk at these properties. Unfortunately many garages are at significant risk.
FloodFlash combines the latest flood modelling data with Internet of Things (IoT) sensor technology. As a result, FloodFlash prices every quote to the risk at the individual property – not a postcode. This specialist pricing means that you can get cover even when other insurers are unwilling to offer terms due to a chequered claims history or above-average risk.
FloodFlash can be used for commercial motor trade. As long as the address is not used as a residential property then you can request a FloodFlash quote.
Here are some examples of where FloodFlash can help:
FloodFlash can be used for any business, no matter how big or specialist. Only residential homeowners can’t access FloodFlash. Otherwise you are free to request a quote.
When a flood hits a motor trade business it can cause wide ranging problems. Low-lying stock and equipment is compromised, customer vehicles need to be moved safely and business interruption stops revenue coming in. Whatever the outcome of a flood it pays to act fast so you can replace stock, accommodate client vehicles, clear up and start trading again.
Traditional claims can take months to pay out in full. That’s months of waiting for a verdict and making do with your recovery. Unfortunately, many traditional claims end up being smaller than expected due to quirks in the cover from exclusions and averages. FloodFlash claims are different.
FloodFlash pays claims within days of the flood. In fact most claims get paid within 48 hours. The fastest FloodFlash claim happened during Storm Christoph in January 2021 when a business received their payout on the same day as the flood, just 9 hours and 44 minutes later.
The proof of the pudding was getting paid. Initially we were told it was going to be a week long turnaround. It was two days. We’re back up and running again.Andy Hodgson, Automotive Electrical
In addition to the speed, FloodFlash claims are transparent. When setting up cover you choose the depth of flooding you want to protect against, and how much money you will receive when flooding reaches that depth. When flooding happens the amount you choose is the amount you get, no haggling, no negotiating. That way you know how much you have and can plan your recovery straight away.
Another benefit to adding FloodFlash to your motor trade insurance is what happens after a claim. Unlike most insurers who dictate how you recover and who you use, there are no restrictions on how you use the money. When a flood happens, you choose how best to recover. That way if there are any unexpected costs then you can address them first.
Some FloodFlash motor trade clients have used money from claims to pre-book cleanup services for their next flood so their recovery is quicker the next time. As long as the money helps you recover or become more resilient, it’s up to you.
As mentioned in #3, you choose two things when setting up a policy, the amount you get in a claim, and what depth of flood triggers the payment. If you tweak either of these values then premium numbers can change significantly.
For example, if you have a flood plan to move expensive cars off the lot when you receive flood warnings, you can remove these from your claim value. Similarly, if you raise expensive equipment, or put stock on stillage, you can choose a higher trigger depth for your payout. Both of these small tweaks to the flood plan can lead to big savings on premium. If you want to explore options, request a FloodFlash quote and you can get a free survey from the flood recovery experts at Polygon.
Automotive Electrical is a specialist services business run by brothers Andy and Steve Hodgson. During Storm Ciara in February 2020 their business suffered significant flooding. 48 hours later they had the full claim in the bank. In this short video Andy explains their experience of rapid-payout cover.
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On January 22nd 2021, FloodFlash fully settled a commercial property flood claim in 9hrs 44mins without leaving their desks. With traditional insurance that process typically takes months, and when it does, businesses fail. Businesses across the UK are already turning to FloodFlash for their motor trade insurance. To request a quote, visit the homepage or contact us via your broker.
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