[Source – higusa]
It takes years to build a business, but only one hurricane can completely decimate it. Every year from June 1st to November 30th, hundreds of businesses in the Gulf of Mexico are destroyed, leaving their owners to pick up the pieces. To avoid finding yourself in this situation, here are some tips to protect business during hurricane season.
Hurricane Insurance for Businesses
First things first, you need to make sure you’re protected should the worst come to pass. Hurricane insurance for businesses will cover any damage caused by a hurricane, ensuring you receive compensation which will help you to rebuild your business and become whole again. It is important to make sure your insurance policy covers all potential types of damage your business may suffer during a hurricane. Always make sure it includes windstorm and flood coverage at the bare minimum.
Preparing for a Storm
Preparation is key for coming out unscathed on the other side of a hurricane. Here are some helpful tips that could make all the difference in saving your business.
1. Maintain Inventory Records
Many businesses have a relaxed attitude in regard to inventory. If you live in an area prone to hurricanes, this is a big mistake. Your inventory records will be used during the insurance claim process to determine the amount of compensation you receive. Having records proving exactly what was in your business will serve as proof of what you are owed. Be sure to have a record of everything inside of your business, and always remember to add newly purchased items to the inventory record.
2. Protect Against Flooding
Flooding can cause extremely expensive damage during a hurricane, with it being responsible for an average $8.2 Billion in damages per year. To minimize flood damage, move your most valuable items as high as possible to minimize the chance of the water reaching them.
For heavy machinery or equipment, even just lifting it off the ground with cinder blocks could save it from water damage. You should also use sandbags or similar devices to create barriers that will keep water out. These can all be done right before a storm, but well before hurricane season you should be sure to Install backwater control plugs in floor drains, and permanently seal floor drains that are no longer in use. This will prevent flood water entering your business through drains.
3. Wind Damage
Wind during a hurricane can be extremely destructive. To protect business during hurricane season, tie down all large objects outside of your business to prevent them from being thrown into the building. Next, reinforce all windows and doors, either with storm shutters or by boarding them up. Finally, you should trim all trees on your property, this will minimize the likelihood of them being ripped out of the ground by the wind and damaging your building.
4. Review Your Insurance
Review your hurricane insurance policy multiple times. Too many people read it over once and then forget about it. You need to review it and make sure that it covers all potential damage that could be inflicted by a hurricane. The last thing you want is to find out your policy doesn’t cover flood damage when your basement is already filled with water. 75% of businesses are underinsured, make sure you’re not one of them.
Hurricane Damage to Your Business
So, a hurricane rolled through and damaged your business. How to protect business during hurricane season; What’s next? First, you’ll want to document all damage extensively. Take pictures of all damaged structures and items. Of course, make sure the structure is safe to enter before entering to make your documentation. Next, you will want to put in a claim with your insurance company so that you can be compensated for the damage. It is always a good idea to hire a hurricane damage public adjuster.
They will act on your behalf, negotiating with your insurance company to make sure you receive as much compensation as possible. Engaging the services of a public adjuster can make all the difference in rebuilding your business after a hurricane.
