You should pick a payout amount that makes sense for your business. It can be useful to discuss this with an insurance broker or surveyor, otherwise here are some things that you might consider:
- how much it might cost to make repairs to your property in the event of a flood
- the cost of replacing or repairing damaged stock, machinery, contents, etc
- the terms and limits of any existing flood insurance you might have – for example your existing insurance might have a very large excess (sometimes called a deductible) for flood damages, or the level of cover provided might be insufficient for your needs.
The payout from a FloodFlash policy can be spent on whatever you need, so make sure to consider any direct or indirect costs that may be specific to your business or property.
