Not automatically. While cover for property damage is available, that doesn’t necessarily extend to damage to business premises caused by flood.
That being said, we may be able to add cover for damage caused by flood to your policy. If we do, it’ll be subject to our underwriting guidelines and an additional premium. If you’d like to discuss whether flood coverage is available for your business (subject to the terms, conditions and exclusions of your policy), please contact us.
For policy purposes, “flood” is defined as the covering of a normally dry land by water that has escaped or been released from the normal confines of any of the following:
- a lake (whether or not it has been altered or modified);
- a river (whether or not it has been altered or modified);
- a creek (whether or not it has been altered or modified);
- another natural watercourse (whether or not it has been altered or modified);
- a reservoir;
- a canal; or
- a dam.
GIO Business Insurance could cover water damage caused by circumstances other than those outlined above; for example, discharge or leaking of water from a damaged water pipe. For more information, please refer to the GIO Business Protect Insurance PDS and Policy Wording in the Policy Document library.