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How Much is Commercial Flood Insurance in Lake Ozark?

By January 17, 2022Business Insurance

Perhaps one of the most important types of business coverage you should have in Lake Ozark is commercial flood insurance.

Flooding in your shop, warehouse, or office can be devastating to your business. Inventory gets destroyed. Damage to buildings and contents can be extensive. The end result can be extremely costly for your business if you’re not insured. For 25% of businesses that experience a flood, that cost is shutting your doors and never reopening.

If you’re on the lookout for ways to maintain your business’s financial well-being, adding a commercial flood insurance policy is one important element to consider. But before you do, it’s important to dive in and understand what you’re covering and why. Let’s take a look.

What Does a Lake Ozark Commercial Flood Insurance Policy Cost?

The first question that often comes to mind when considering business flood insurance policies in Lake Ozark is cost. While it would be nice to be able to give you an exact price, there are many factors to consider to be able to accurately estimate the cost of this kind of insurance for your business.

One consideration to make is whether or not you own or lease your office building.

Owning your own commercial space means you’ll need to cover your inventory, as well as the physical space where you house your inventory. With more expensive structures and more items to cover, it makes sense that flood insurance policies for owners tend to be higher, and can range from $500 to $8,000 per year.

If you lease your office space, the only thing you’ll likely need to cover in the event of a flood is your property, such as office furniture, and inventory. These expenses tend to be lower, making your flood insurance less expensive.

This doesn’t offer much of a picture in terms of what you, specifically, will pay for flood insurance in Lake Ozark, so let’s look more carefully at some of the considerations that insurance companies make when offering you a quote.

How is the Price Calculated for a Commercial Flood Insurance Policy?

Every piece of property is different. Some are bigger, others are smaller, which means the risk of damage varies too.

Every property owner is different. The amount of coverage you want will also determine how expensive your policy will be when quoted.

As you’re wrapping your head around how much your flood insurance might cost, here are some of the factors to look at and analyze in your own business.


On almost every flood policy, you’ll be asked to pay for a minimum amount before the insurance company kicks in to cover the damage. This amount is called your deductible and it works the same way it does on any personal or other business insurance policy. You get to choose from several options, how much you’ll pay out-of-pocket in the event of a flood. The amount you choose directly impacts the amount of your premium.

Your Location

While not a foolproof indicator of whether you will experience a flood, insurance companies take your flood zone into consideration when determining your premium rate.

If your home is along the shorelines in Lake of the Ozarks, you may not be as at high of a risk as you might think. The Lake of the Ozarks is unique in that it is a non-flood control lake. According to the City of Lake Ozark website, the surface elevation rarely varies by more than five feet. This relatively stable surface has made it ideal for private development and could lower your risk of flooding.

The Best Strategy to Get the Right Coverage

Looking at maps and analyzing your personal situation isn’t something you should do alone. There are many factors that can shift how much you pay and how you’re covered. To ensure you get the right coverage for your business’s needs, it’s best to reach out directly to an agent that regularly reviews flood insurance policies.

At McGrath Insurance Group, we’ve helped many businesses get coverage to protect their property. We can help you determine the best coverage for your unique needs too. Reach out and request a proposal for Lake Ozark business flood insurance from one of our commercial insurance representatives.