
FloodFlash has added an auto dealer program in their efforts to support more U.S. businesses ahead of a hurricane season that is widely anticipated to be amongst the worst in recent memory. Stored on large, flat areas of often impermeable land, many auto dealer inventories are exposed to flooding. Cars can float in just 12 inches of water and two feet of water will drag away most smaller vehicles. Unavoidable flood damage can lead to vehicle write off and huge disruption to dealers around the country.
The FloodFlash Dealer Open Lot program is designed to support risk managers with the first sensor-enabled parametric flood insurance. It’s the perfect program for dealers who can’t secure flood coverage elsewhere, that are situated in higher risk areas or who have flooded before.
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FloodFlash US Commercial Director Rich Coyle said: “Certain sectors are underserved by existing flood carriers time and again. One of the greatest examples of this is auto dealerships. Many insurers balk at the potential loss of car or motor-home stock that even low-level flooding can cause.
“Our new program is designed to support dealerships that have previously struggled to secure limits that would truly protect their businesses from flooding. It also rewards those businesses that are taking steps to mitigate their flood losses by aligning risk management practices with lower premiums.”