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Why flooding can be so costly to businesses

Flooding is the most common and widespread natural disaster in the UK and it’s something that the country has been hit hard with over the last few years. As well as tragic loss of life, it’s also costing billions of pounds worth of damage every year.

It’s not just people’s homes that are being hit either, the impact of flooding is something that’s taking a toll on businesses up and down the country as well. In fact, it’s currently estimated that approximately 185,000 commercial properties in the UK are at risk from flooding.

shutterstock_117274900Why exactly is this so costly to companies however?


The most obvious reason why flooding costs money is because it can cause a substantial amount of damage. Repair work can be costly as you need to take into account labour as well as materials. Furthermore, if any furniture or computers have been damaged, these can be expensive to replace as well.

On average, the cost of flood damage to businesses is a whopping £28,000. This is almost four times higher than the cost of fire damage and considerably higher than burglary losses which amount to a mere £1,033 in comparison. 

Loss of business 

It’s currently estimated that flooding accounts for nearly 10% of all business disruptions and it’s not hard to see why this is.

If a business premises is hit with severe flooding, chances are that it’s going to have to close until the repair work is carried out. The cost of not being operational can be huge to a company because not only do you lose out on any revenue that should have been generated during that time, you could also lose customers to your competitors. 


Financially, having insurance can be a lifesaver for your business. Once you have claimed however, your premiums will go up so as well as the excess you will have to pay, your insurance payments will start to increase. shutterstock_138851174

How to protect your business 

Many business owners are reluctant to take out flood protection because it can be expensive and if something is only a ‘risk’, it can feel like an unnecessary expense. If your business is at any risk whatsoever however, it’s strongly advised that you invest in the appropriate flood defences. If you are affected, this can save you a huge amount of money and can even protect you from being hit in the first place.

Preparing for flooding can also help to reduce the damage that is caused should you be subjected to this natural disaster. By taking early action, companies can in fact save between 20% and 90% on the cost of lost stock and movable equipment.

The first thing you should do is check to see if your business is at risk from flooding. If it is, you can sign up to receive flood warnings so that you can be prepared for any eventuality. If you are likely to be hit, you should have a business flood plan that you can refer to as this will contain important contacts and strategies for how to protect your premises.

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