Here are some of the things that business owners can learn from the devastation of this year’s hurricanes.
Between Hurricane Florence and Hurricane Michael, this year’s hurricane season has been extremely devastating for business owners located along the east coast. However, there are some very important lessons that business owners across the country can learn from the hurricanes. Here are some of the major takeaways from this hurricane season.
Be Prepared for the Worst
Unfortunately, many business owners did not expect to find themselves in the direct path of the hurricanes. As a result, they were largely unprepared for the onslaught of rain, wind, and flooding. This reminds business owners across the country how important it is to be prepared for an emergency situation. To start, you should have an emergency response plan for your company. Your plan should cover what to do during an evacuation, how to ensure that all your employees and customers have exited the premises safely, and how to meet up post-evacuation. Your plan should also detail how you will communicate with relevant parties during and after the emergency situation, and how you will get normal business operations back on track. If you have more time to prepare your business, it’s important to take steps to minimize the amount of damage that your building and commercial property experiences.
Update Your Coverage
Sadly, many business owners were not carrying an adequate amount of commercial coverage to address the full extent of their hurricane damages. This meant that the remaining cost of the repairs came out of their own pockets. To prevent your insurance from falling short, it’s important to review and update all of your policies on a yearly basis. Your commercial coverage amounts should be raised to account for inflation, changing property values, evolving risks, and increasing building and labor costs. Keeping your coverage up-to-date will ensure you have complete commercial coverage when you need it the most.
These are some of the things business owners can take away from this year’s hurricane season. Are you interested in securing the comprehensive coverage that your business needs? If so, contact the experts at Scavone Insurance in White Plains, New York. We are ready to assist you with all your commercial coverage needs today.