We all do it, we worry about things we cannot change. What if you didn’t have to worry as much? I’m not saying you can stop a disaster from happening, but you can be prepared. Wouldn’t you feel better knowing you have a plan?
Consider these commercial property damage preparation tips and think about applying them to your business. These suggestions can help relieve some stress and take away the “what if’s” that are outside of your control.
Businesses can go years, sometimes even decades without a loss. Some are lucky and never experience any major losses. Having a false sense of security that a building/property will be fine in an event has put some companies out of business altogether. Statistics show that 40% percent of businesses fail after a major loss. We should all strive to be among those who can go without worrying about the “what if’s” by being prepared.
Know your policy! Not just your broker or agent!
Is your insurance policy sufficient to cover damages in the event of a loss? What if you experienced major damages? Insurance policies can be confusing, and sometimes your agent or broker might not even fully understand the details contained. Often, we find that businesses are under insured, lacking certain coverages, or don’t know their deductible. Buying insurance shouldn’t just be based on price, but quality of the policy and coverage limits.
Business continuity planning matters! Know your risk.
As a business owner, manager, risk manager, or CEO, you have enough to worry about! Managing people, compiling reports, and staying compliant with regulations, etc. is time consuming and difficult enough, but are we managing our buildings with the same enthusiasm? We should be also be evaluating the properties and buildings in order to keep our people working and our customers coming through the doors.
We take the responsibility of working with businesses seriously. We have developed our entire business around our core values for this very reason. Communication, Transparency, and Integrity. These values have helped cultivate and guide our Back in Business program and everything we do. This program puts your business first when you need it most.