Planning for an emergency in your business

1/13/2021 (Permalink)

Business owners are no stranger to the importance of planning ahead, but many of them do not prioritize disaster planning for their business.

Unprepared businesses that are hit by a disaster are frequently devastated, even being rendered unable to reopen. By evaluating your current preparedness levels and determining where you can improve, you can ensure this does not happen to you.

Understanding the three main categories of disaster preparedness is much simpler than planning for each scenario, allowing you to quickly identify strengths and weaknesses and make changes accordingly. Here are the top three categories for disaster preparedness:

Your Commercial Insurance Coverage

While it is logical to assume that a commercial business policy will cover any damages sustained from a natural disaster, many business owners are dismayed to find that is far from the case. Most commercial insurance policies exclude common specifics such as flood damage, and do not provide coverage for the loss of revenue that business owners sustain. Talk to your insurance agent to determine exactly what is and is not in your policy in advance.

Your Emergency Plan and Supply Kit

When the alert is sent out about a natural disaster, or if an emergency like a fire occurs, there will often only be minutes to react. Having an evacuation plan is vital to keep both you and your employees safe in this scenario. It is also wise to plan for a situation in which you will have to await help and stay on-site during an emergency such as a power outage. Stock an office emergency supply bag with enough food, water and medical supplies to cover anyone who may be present.

Your Plan for Restoration and Recovery

Reopening as quickly as possible following a disaster is the top way to minimize the impact that the damages have on the future of your business. By researching and deciding on a restoration company in advance of the disaster, you can make the call as soon as your business is safe to reenter in order to have restoration started right away. In the aftermath, the Small Business Administration offers disaster loans to assist business owners at a lowered interest rate, as well.

If your business has been impacted by a disaster, you can contact us ²⁴⁄₇ for guidance on how to begin the commercial restoration process