As a business owner, many things about your enterprise worry you on a daily basis, but natural weather disasters may not be among them. Truth is, inclement weather conditions such as floods, storms, hurricanes, and earthquakes can cause costly damage to your business. In some instances, you may not even be able to salvage anything.
Coming up with an actionable plan is critical to preparing your business for when such unforeseen events occur. Read on for more insight into the top four preparedness tips that you can utilize to protect your investment against extreme weather events.
Identify Your Risk
Depending on where your business is located, it can be exposed to different natural disasters. For example, areas along the coast of Oregon, California, Washington, Hawaii, Missouri, Alaska, and Tennessee are prone to earthquakes. Oklahoma and Iowa areas are at risk of tornados. If you live in Texas, you should prepare for hurricanes like the one that hit the coastal areas in August this year.
Knowing the kind of extreme weather events that are common in your area will help you come up with a plan. For example, if you live in a flood-prone area, making structural adjustments to your building and the drainage system can go a long way in keeping your business safe during the floods.
Develop a Disaster Plan
Recent research indicates that one in three businesses is affected by natural disasters when they strike. Why is this? It’s because most companies don’t have a response plan in place. Once you identify the risk in your area, the next thing should be to develop a plan. Remember, calamities are often unforeseen, and your level of preparedness will determine how much of your investment you can save.
- Choose an individual or group that will notify the workers of the disaster. You can call this a disaster management team for your business.
- Come up with a backup office arrangement in case you are stuck in the building during the event. Create an evacuation plan as well.
- Plan on how to move essential office equipment to safety, preferably a safe and disaster-proof room within the building.
- Invest in software that regularly backs up sensitive documents that can be damaged during a disaster. A cloud-based backup system is the best for this task.
There is nothing worse than dealing with a natural calamity without insurance. You will lose everything you have spent your time and resources working on. Before disaster strikes, get the right insurance coverage. This will ensure that you can receive compensation for any losses incurred during the disaster. Get property insurance and customize it to include flood, storm, or earthquake coverage.
Insurance is your best friend when there is a natural disaster. Stay updated by knowing how much of your business is covered by your insurer. Understand the level and amount of compensation that you should expect during a disaster. This will ensure that you are adequately covered to prevent losses. It will also save you from getting ripped off by the insurer.
If a disagreement ensues regarding the amount of compensation or you feel shortchanged, you can always contact a company like Great Lakes Public Adjusting to help you with the claim.
No one anticipates natural disasters. However, when they do happen, the best you can do is ensure that you are safe and you have a way out if your property is damaged in the process.