There are a wide variety of issues that can impact businesses, such as rising costs of raw goods and materials, nearby construction, downturns in the economy, more competition within the industry, and lack of adequate staff. However, one of the most common impacts to businesses and business owners comes from power outages. The loss of power can be devastating to a business, since it can hinder sales, productivity, security, manufacturing, customer access, and inventory volume. Business owners can take a proactive step to minimize losses caused by power outages through strategic business insurance coverage from Aegis.
Lost Power Means Lost Revenue
One of the most noticeable losses caused by a widespread power outage is the loss of customers. A power outage means customers may be unable to make contact with a business or obtain needed services. For restaurants, a lack of power means the inability to cook or prepare dishes, while auto repair shops are unable to complete vehicle repairs without the use of their electronic repair components. A lengthy power outage ultimately results in the loss of revenue that can severely impair a company's monthly or annual revenue totals.
Power Outages Put Inventory In Peril
For some businesses, a power outage is catastrophic event due to their perishable and vulnerable inventory. For florists, a widespread power outage can lead to the loss of thousands of dollars worth of wilted, dying flowers and other sensitive plants. Bakers, delis and restaurants can also face devastating losses due to power outages because of their heavy use of refrigerated ingredients and inventory. A substantial loss of perishable inventory can easily bankrupt a small business, particularly in Houston's competitive economy.
Lack of Security Leads To Additional Losses
A growing number of businesses have taken great precautions to protect and safeguard their business assets through the installation and use of security cameras and secured doors. A massive and lengthy power outage can create a security breach, resulting in the loss of critical company assets such as cash, computers, machinery, specialized equipment, company vehicles, and even sensitive data or company secrets. The theft of company assets and sensitive data can cripple an otherwise thriving business, leading to company closure or bankruptcy.
Strategic and quality business insurance coverage can help minimize revenue and asset losses due to power outages and ensure a shorter recovery time for business owners. Aegis is pleased to offer Houston businesses exceptional business insurance solutions that meet their unique needs. Aegis specializes in Business Insurance Policies, and even offers tailored insurance policies designed for specific industries, such as Restaurant Insurance, Florist Insurance, Retail Insurance, Auto Repair Insurance, Contractors Insurance and Farm & Ranch Insurance. Business owners can save hundreds on annual premiums by bundling insurance policies together for maximum savings. Contact Aegis for more information at 713-850-7622, or go online to request a free quote!