Over time, a business owner may find it necessary to consider relocating their office, either because they have outgrown their current location, or they need to downsize to something more manageable and affordable. Unfortunately, office relocation can be a complex and challenging process, especially if business owners are not fully aware of all the factors they need to consider. Without the right information, a company could end up in a terrible location that dooms the future of their business. In today's Aegis blog post, we look at important questions every business owner should research before relocating to a new commercial property.

What Are The Potential Weather Risks?

As many Houston area businesses learned this year from Hurricane Harvey, there is no part of Texas that isn't vulnerable to severe weather conditions, whether it's from heavy rainfall, flash floods, lightning, tornadoes, hail, and windstorms. Important questions to consider include:

• Does this area experience coastal flooding from hurricanes or storm surges?
• Is this property in a flood plain, and what is its proximity to bayous, retention ponds, or rivers?
• Could this structure withstand strong winds or a severe hailstorm?
• Would nearby roadways or bridges be impassible due to flooding or icy conditions?

What Property Risks Exist?

Businesses may face downtime or liability issues due to property risks inside and outside the commercial building. For example, while it might be cheaper to relocate to an older commercial building, it may also come with problems related to electrical wiring and plumbing, which could impact all the tenants of the building. Also, a property with large, established trees could damage commercial buildings or vehicles if they aren't regularly pruned. Important questions to consider include:

• Are there trees directly next to the property that could cause structural damage, commercial vehicle damage, or utility outages?
• How old is the building, and have plumbing, electrical, HVAC, or phone/Internet systems been upgraded?
• Is the building more secure or more vulnerable than the current location?

What Are The Crime Statistics For The Area?

Unfortunately, no location is immune from the threat of crime, such as theft, robbery, or vandalism. However, some areas may see higher rates of criminal activity than others, so it's essential to do your research and find out crime statistics for any potential relocation area. This will help ensure that employees, customers, vendors, and business property are as safe as possible. Important questions to consider include:

• What is crime like in this area?
• What are the biggest threats to businesses in this part of town?
• What is the most common business insurance claim in the area?
• What security systems are in place for this location?

How Will My Monthly Expenses Be Impacted?

Many business owners consider price to be a key factor when weighing relocation options. However, it's important to take into account the other expenses related to relocation. Otherwise, higher utility costs or other unexpected expenses will eat up any savings that come from a lower monthly rent. Important questions to consider include:

• What kinds of commercial insurance policies are required by the landlord?
• What are the utility costs compared to the current location?
• How will the new location impact commercial drivers, employee commutes, and toll and fuel costs?

Relocation can be an important next step for business owners, but thorough research can help avoid pitfalls and issues that could hinder the growth and long-term success of a company. Aegis Insurance & Financial Services is also committed to helping business grow and succeed, regardless of their location. Contact Aegis today at 713-850-7622 for more information about our full line of Commercial Insurance solutions, or fill out our online form to request a free quote!