Last year the United States saw catastrophic storms on every level. From hurricanes to flooding and windstorms to power outages, there was no shortage of help needed for businesses and individuals during and after the storms. A solid insurance company should encourage business owners to prepare for hurricane season, for instance, by supplying helpful coverage like Florida Windstorm Insurance. This will help protect valuable assets and reduce costs due to a storm.
Here are some ways business owners can storm-proof their business against any type of weather.
Know The Cost
Storm-proofing isn’t a cheap endeavor. According to Business Insider, installing new shutters for windows can cost $600 apiece. And that’s just for a small home. Kick in a new generator, stoves, a safe room, and door reinforcements, and battening down can add up quickly. Having a handle on what you can afford can be the difference between keeping the lights on and being underwater, literally and figuratively.
Practice Generating Safety
As mentioned above, having a generator is something to be considered. But out of everything you can purchase to protect your business in the event of a natural disaster a generator is probably what you should lean on. Loss of electricity can hugely impact your business, no matter the size. Power loss of at least one hour will affect up to 70% of business in a year. And think about Puerto Rico with its fragile power grid, going months without power.
When Katrina it the Gulf Coast in 2005 more than 1.7 million people lost power, according to the National Oceanic and Atmospheric Administration. Something like this can set back a business without the ability to crawl back out.
Back Up Need-to-Know Data
Power loss can rear its ugly head in many forms, not just financially. Companies can lose money and customers if they don’t have access to the Internet, phones, and other lines of storage and communication. Businesses must be able to access critical info in regards to customer data. Choosing to back up computer data and create an offsite list of things like insurance policies and banking and vendor information will save a lot of stress.
Save For That Literal Rainy Day
After the storm has passed and the power is back on there’s a lot of cleaning up to do, and not just in debris. Being able to pick up the pieces financially is key to surviving post-storm business. Companies should have plenty of money tucked away for emergencies like floods and hurricanes to get back to business and not go under. From extra expenses to damage fixing, employee wages, and other incidentals, having a solid savings account is key.
About Advanced Insurance Underwriters
At Advanced Insurance Underwriters, we offer specialized programs to safeguard small business owners like you. From general liability to cyber liability protection, we have the solutions you need to thrive. For more information about our products, give us a call today at (800) 660-7734.