Earthquake and Flood Insurance under a commercial Difference in Conditions policy?

If you own a commercial property, you know that there are a lot of risks to manage. Two of the most unpredictable and potentially devastating risks are earthquakes and floods. Earthquakes can cause structural damage to buildings and foundations, while floods can cause water damage that can be difficult and expensive to repair. That’s why it’s important to have the right insurance coverage in place.

While most commercial property insurance policies cover basic risks like fire and theft, they typically exclude coverage for natural disasters like earthquakes and floods. That’s where a Difference in Conditions (DIC) policy comes in. This type of policy is designed to fill the gaps in coverage left by traditional property insurance policies.

What is a Difference in Conditions Policy?

A Difference in Conditions (DIC) policy is a type of insurance policy that is designed to provide coverage for risks that are not covered by a traditional property insurance policy. These risks may include earthquakes, floods, and other natural disasters. A DIC policy is often used by commercial property owners who need more comprehensive coverage than what is provided by a standard property insurance policy.

Earthquake Insurance Coverage

Earthquakes can be incredibly destructive, and they can strike without warning. In areas that are prone to earthquakes, it’s important to have earthquake insurance coverage in place. A DIC policy can provide this coverage. The coverage can include damage to buildings, foundations, and other structures caused by an earthquake. Additionally, it can also cover the cost of replacing damaged equipment, inventory, and other property.

Flood Insurance Coverage

Floods can also be incredibly damaging to commercial properties. Flood insurance is not typically included in a standard property insurance policy, so it’s important to consider adding it through a DIC policy. Flood insurance coverage can include damage caused by rising waters, flash floods, and other types of flooding. This coverage can help pay for repairs to the building, foundation, and other structures. Additionally, it can cover the cost of replacing damaged inventory, equipment, and other property.

Why You Need DIC Coverage

If you own a commercial property, you need to have adequate insurance coverage in place to protect your investment. A DIC policy can provide coverage for risks that are not covered by a standard property insurance policy, such as earthquakes and floods. By having this coverage in place, you can rest assured that your property will be protected in the event of a natural disaster.

If you own a commercial property, it’s important to have the right insurance coverage in place to protect against natural disasters like earthquakes and floods. A Difference in Conditions (DIC) policy can provide the coverage you need to fill the gaps left by a standard property insurance policy. Don’t wait until it’s too late – call us at Wigmore Insurance today to learn more about DIC coverage and how it can protect your commercial property.

Send Us a Message

Have a question? Get the knowledge. We’re happy to help!

"*" indicates required fields