FloodFlash offer a rapid-pay-out flood cover through an alternative model, known as parametric insurance.
FloodFlash is extremely flexible and the payment can be used in any way you like; to repair the premises, rent an alternative location, replace stock or to fill in an excess, top up your limits, or as a bolt if your main insurance excludes flood.
You select your trigger depths and pay-out values to get an instant quote. If agreeable, their engineers visit and install a mobile-connected sensor.
In the event of a loss, the sensor confirms the chosen trigger depth has been reached, the claim is automatically initiated and, upon approval, the payment is made, usually within seven days.
There are no restrictions on how you use the cash: cover property damage, business interruption, stock etc.
FloodFlash policies are for businesses, including businesses trading from home and landlords or property owners, where the property is owned through a company. Policies are available anywhere in the UK, excluding Northern Ireland.
Even if you have had previous flood incidents or claims, FloodFlash provide quotes in 99% of cases, regardless of flood history.
The standard maximum limit of the policy is £5million, however higher limits can be purchased on referral.