Hurricane Season Survival: Review Your Business Insurance Policy

As we approach the beginning of summer and all of the good things that come along with it, we are reminded to prepare for the perils that come along with it such as the recent killer tornados in Oklahoma and for us in Florida, the beginning of Hurricane Season.

We must make a plan of action whether it is for our home or business.  There are what have now become the obvious items such as food, water, batteries and generators.  Compile emergency contact lists, both of your employees (including  names and phone numbers) as well as a list to include your insurance policies and contact numbers.  But just as important as putting all of the staples in a safe place in case of an emergency is taking time to review your plan.   Not only what you will do in preparation, and whom you will contact before, during and after a storm, but also whether you are adequately covered in case of closure or destruction.

Has your business grown since the last time you reviewed your insurance coverage?  If so, is it sufficient to cover the costs of getting your business back up and running to the level it was the day before the storm? Do you have adequate coverage to replace the property if it’s damaged or destroyed?  Do you have business interruption coverage?

When was the last time you had your insurance policies independently reviewed?

As the old saying goes, “it is better to plan to fail, than fail to plan.”

Contact us to learn more about how you can prepare your business for hurricane season.