Here's what business owners across the country can learn from this year's hurricane season.
As hurricanes buffeted much of the east coast this year, many business owners suffered damage and devastation. While this year's hurricane season was certainly traumatic for many, we can look at it as a learning experience. Here are some of the lessons business owners can learn from this hurricane season.
Never Assume Your Security
Hurricanes and tropical storms evolve quickly, oftentimes changing course with little warning. Many business owners have assumed their safety only to be caught in the path of a major storm. To avoid being caught off guard by a natural disaster or emergency situation, businesses need to be on alert the moment a potential threat is identified in their general vicinity. Even if it appears that the situation will not immediately affect your company, you should still consider enacting your business's emergency response plan just as a precautionary measure. It's far better to be overly cautious than underprepared.
You Can Never Be Too Prepared
Even if you have an emergency response plan in place, don't stop there. Many business owners felt confident in their hurricane response plans only to discover major issues when a hurricane actually hit. The best way to fill any potential gaps in your planning is by running through several major emergency situations and seeing how your plan applies to these threats. Oftentimes, business owners discover lapses when they attempt to apply their emergency response plans to actual scenarios. For instance, many fail to account for:
- Communication methods (What happens if you lose cell service? How can you stay in touch with your employees after an evacuation?)
- Business continuity (How will your business resume operations if your main location is compromised?)
- Customer contact (How will you assure customers of your business's ability to perform? What will you tell them if you cannot follow through with a deal?)
Check Your Insurance Coverage
Finally, to ensure you can address any damages that your business may suffer due to a natural disaster or another emergency, make sure you have the right insurance protections in place. While many business owners had the right coverage to address general storm damage (damage caused by wind, water, lightning, etc.), they did not account for the flood damage that their business experienced. Because flood damages are not covered under a standard commercial property policy, many business owners found themselves paying for these repairs out-of-pocket. No matter where your business is located, make sure you have the right coverage to address all the risks you face. This might mean securing specialty policies like flood or earthquake insurance. Speak to a trusted insurance agent in your area to ensure you have all the protection your company needs.
This is what all business owners can learn from hurricane season. Are you interested in securing the right coverage for hurricanes or any of the other dangers that your company faces? If so,
contact the experts at
Club Agency Insurance Brokerage in Garden City, New York. Our dedicated team is ready to assist you with all your commercial coverage needs today.
