Does Your Business Need Insurance?

3/28/2022 (Permalink)

As a business owner, you know the importance of keeping your establishment safe. Each year, water damage ranks as one of the top claim types for businesses of all sizes. Part of making sure your property, business, and people are safeguarded in the event of a disaster is having appropriate business insurance. Check with your agent if you have questions about your coverage.

1. Reduce Your Risk
Damage can originate from several water sources, such as broken pipes, sewer backups, severe storms, and more. Though you can't stop natural disasters, you can take steps to manage the severity in some instances. Routinely inspect your property and perform maintenance as required. Take measures to protect your assets by insulating exposed pipes, maintaining building temperatures of 55 degrees, and sealing cracks in your building’s exterior and foundation. Be sure to keep gutters, downspouts, and drainage areas clear of debris to prevent backups. Emergencies don't adhere to schedules, so make sure you're taking the time now to reduce your risk later.
2. Plan for Recovery
In the event of a disaster, it's important to have a plan to handle the situation safely. Every business is somewhat prone to water damage, whether it's from broken pipes or inclement weather. Contact your insurance provider to be sure you have the appropriate level of endorsements (also called riders) on your policy to cover the costs associated with water cleanup and repairs. You may also want to discuss what happens in the event of structural damage, mold growth, or ruined inventory. After an emergency, be quick to contact restoration experts who can efficiently mitigate the damage and manage the restoration project.
Keeping your business safe during an emergency is crucial. You can take steps to prevent some water damage from happening, but it's also important to have adequate business insurance to prepare for the risk of serious incidents outside of your control.

Give us a call if disaster strikes your home or business! We are faster to any disaster and are here to help get you back to "Like it never even happened."