Although businesses along the Gulf Coast region are happy to bid farewell to the 2018 hurricane season, this doesn't mean that severe weather can't impact businesses during the cold winter months as well. Companies can be negatively impacted by such winter weather as ice, snow, heavy rains, lightning, and gusty winds, even if the weather occurs elsewhere in the country. In today's Aegis blog post, we look at four ways winter weather can impact your business, and how commercial insurance coverage can protect against possible losses or damages.
Power Outages
As cold fronts enter our region, it's common for gusty winds to accompany the lower temperatures. Strong winds can cause power outages due to toppled utility lines or tree damage that impacts commercial buildings or other structures. Power outages can lead to a loss of customers and revenue, as well as lost inventory or merchandise that requires refrigeration.
Frozen Pipes and Water Damage
Even though businesses can be heated and protected inside from chilly winter temperatures, exterior plumbing and pipes can be damaged during hard freezes. When this occurs, the damage can be extensive for business owners, especially if it happens overnight or when the business is closed. Water damage from frozen or broken pipes can require both costly repairs to the building and large replacement costs for damaged equipment, electronics, and other assets.
Car Accidents
Winter weather can also negatively impact companies because of damages or accidents involving company vehicles and employees operating those vehicles. During periods of heavy rainfall, sleet, ice, or snow, it can be extremely difficult for commercial drivers to safely navigate roadways, whether they're making a service call or delivering merchandise. This is especially true for drivers in the Gulf Coast region who are not familiar with driving in icy conditions.
Local and National Transportation Delays
Finally, businesses can also suffer losses from bad winter weather in other parts of the country because of its impact on their own suppliers, customers, and even other locations or satellite offices. When snowstorms shut down transportation lines in the Midwest or Northeast region, it can mean your business doesn't receive critical materials or merchandise needed for your own business operations. In addition, delays for shipping companies or the post office can mean your customers don't receive your shipments on time, leading to lost revenue and angry customers.
To protect your business from winter weather losses, consider contacting Aegis Insurance & Financial Services to ensure you have the Commercial Insurance needed to protect all facets of your company. For example, Service Interruption coverage can protect insured for direct losses or damages of utilities or other services, Commercial Auto protects against damages and losses related to commercial car accidents, Business Income Loss Insurance can protect against lost revenue due to covered events, and Contingent Business Interruption can protect companies when supplier closures or damages directly lead to delays or losses for your company.
For more information about any of these policies, or to add them to your Commercial Insurance portfolio, contact Aegis today at 713-850-7622 or fill out our online form.