October 14, 2020 Dan Thompson

How to Prepare Your Business for a Hurricane

Let’s say a hurricane hits and damages your property, and now you’re on the hook for $50,000 in repairs. Is that something you can afford on your own?

The good news is, you don’t have to. 

When tailored to your specific needs, your insurance policy can give you the peace of mind during an inclement event so you can focus more on how to keep your customers happy in a way that exceeds their expectations and surpasses the service they’d receive elsewhere. 

Steps to Protect Your Business

We recommend talking to your insurance agent now about how your policy can protect your business if a hurricane hits. Here are some of the questions we recommend you ask:

1. How does my retail insurance policy cover events like hurricanes?

If you have to close your operation due to a hurricane, then you need to know how quickly you can get claims processed and repairs made. Your main concern during this time is how you quickly you can resume serving customers, so knowing in advance what your policy covers—and whether you should consider adding coverage—would help you focus on what really matters after the storm passes.

2. Does my current policy include flood coverage, and if not, do I need to consider it?

Not everyone needs flood insurance, but this is a question worth asking. Hurricanes bring flooding and sewer backups to areas, so you’ll need to know whether that’s enough of a threat in your area to consider adding it to your insurance policy. You might not need it, but your agent can give you a definitive answer and, if you’re interested, some quotes.

3. Does my commercial auto insurance include events like hurricanes?

You might not have the option of storing your business vehicles somewhere during a hurricane, but you’ll need your fleet ready to keep making deliveries to customers or other businesses. We encourage you to review your commercial auto insurance policy to see how hurricane damage is covered, if at all. You don’t want to create frustration for your customers because you spent more time trying to arrange repairs than your competitors did.

4. When was the last time I photographed or videoed my business equipment as part of an inventory for my insurance company?

You can’t operate a successful business without the right equipment. If any of that is damaged by a hurricane, do you know if you could afford to fix or replace those items? We strongly encourage you to augment your equipment inventory with pictures and videos. If you’ve already done that, then make sure you took or recorded those recently. The faster your agent can process your claim, the sooner you can get repairs or replacements done so you can serve your customers again.

5. Does your workers’ compensation policy cover injuries incurred during a hurricane?

Your business might not have to shut down during the storm, but that doesn’t mean one of your employees can’t get hurt while on the job. Your policy should include medical expenses and loss of income, among other things, but you’ll want to know the types of injuries that are covered and under what circumstances those injuries can happen to qualify. Keep your employees healthy and protected, so they can exceed the expectations of your clients.

Learn More about Protecting Your Business

When you know your insurance policy protects your business, then you have more time to devote to your customers. A Dan Thompson Agent can walk you through all of your insurance coverage options to make this even easier for you to understand and make decisions. Call us at (919) 944-4201, or get a quote to see how we can best protect your business during this uncertain time.

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