The Time to Prepare is Now!

Don't wait for a storm to strike! Check in on your insurance today.

Experts are predicting another active hurricane season for 2021. Being prepared for a major storm is not just important - it is vital to your safety and the protection of your organization. Make sure you have adequate insurance coverage for your business! Here are some tips for making (or reviewing) your disaster plan that you should consider as we roll into hurricane season:

Make A Plan

Catastrophe planning ahead of time can help minimize the impact a disaster has on business. A structured and formalized Disaster Plan for your business is vital. As there may be many moving parts to your plan, make it realistic with some flexibility and be sure to discuss the plan with your employees. Following are ten items to consider as you start preparing:

Carefully assess how your company functions, both internally and externally, to determine which staff, materials, procedures and equipment are absolutely necessary to keep the business operating. Identify operations critical to survival and recovery, and focus on how to maintain those during a disaster.
Make sure your staff is familiar with the plan. Train them on what they are responsible for and who they should contact in case of severe weather.
Have your building inspected by a licensed professional to ensure that the roof and other connections comply with the wind loading requirements for your area. Ask for other loss control suggestions.
Arrange for programmable call forwarding of your business lines with the phone company. This will allow you to call and reprogram your phones from a remote location, if necessary. Designate a remote phone number on your voicemail system to be used for recording messages to employees in the event of an emergency.
Install emergency backup lights that turn on when the power goes out.
Compile a list of important phone numbers and addresses. The list should include local and state emergency management agencies, major clients, contractors, suppliers, realtors, financial institutions, insurance agents and insurance company claim representatives.
Keep duplicate records. Back-up computerized files regularly and store them off-premises. Keep copies of important records and documents in a safe deposit box and make sure they are up to date.
Plan what you will do if your building, plant or store is not accessible. Consider plans to run the business from a different location or from your home. Develop relationships that may offer opportunities of assistance such as the use of facilities in the event a disaster renders your location unfit for use.
Learn about the emergency plans that have been established in your area by local government. In any emergency, always listen to the instructions given by local emergency management officials.
Learn about programs, services, and disaster planning resources at U.S. Small Business Administration

Review Your Insurance

Make sure you have sufficient coverage to pay for the indirect costs of a disaster—the disruption to your business—as well as the cost of repair or rebuilding. Most policies do not cover flood or earthquake damage and you may need to buy separate insurance for these perils. Be sure you understand your policy coinsurance requirements and deductibles.

For a business, the costs of a disaster can extend beyond the physical damage to the premises, stock, equipment, furniture and other business property. There is the potential loss of income while the premises is unfit for use. Your disaster recovery should include a detailed review of your insurance policies to ensure there are no gaps in coverage.

To aid in the claims filing process after a storm, Theodore Tunick & Co. has developed an easy to use online claim form, which can be accessed here.

Let's All Stay Safe This Hurricane Season!

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