Although hurricane season officially kicked off on June 1, the tropics are at their most active now as more storms develop and threaten businesses and homes. While some businesses simply hope for the best, others take proactive steps to protect their business, assets, and employees. In today's Aegis blog post, we ask three questions that can help you know if your business is truly ready and protected this hurricane season.
How Are You Protecting Your Business and Employees?
Businesses along the Gulf and East Coast have to be cautious during the entirety of hurricane season since hurricane-force weather can cause a variety of damages and delays. Companies should plan before and during hurricane season to ensure they have the resources and equipment in place to protect buildings, structures, and company property before a storm strikes. In addition, business owners should also ensure worker safety by heeding the advice of local officials and closing so employees can safety evacuate the area. Businesses that must have employees on site should provide a safe location for them to shelter in place to minimize possible employee injuries or accidents.
What Are Your Contingency Plans If Forced To Temporarily Close?
If a hurricane or major tropical storm forced your business to close for a period, would you be able to meet existing financial obligations, such as rent, taxes, and utility payments? How will you keep your employees paid so they don't leave and find work elsewhere? Unfortunately, many companies don't realize until it's too late that they are still responsible for these expenses even if their business is not operational because of a temporary closure. However, companies can get Business Income Interruption coverage to help offset existing expenses that are still due even though the business may be temporarily closed due to a covered event. Also, companies can also proactively create contingency plans to ensure a minimal disruption in business by having an alternate work location available, as well as keeping business-critical record and data stored on an off-site or cloud-based server.
Would You Be Able To Make Repairs and Rebuild?
Finally, one of the most important questions any business owner should consider is if they have the financial resources available to rebuild and reopen after a hurricane damages their building, forces a closure, or causes the loss of critical assets, materials, tools, equipment, or commercial vehicles. For most businesses, rebuilding and repairs are not possible at all without some sort of insurance coverage in place well before a storm hits. Companies should make sure they have Commercial Insurance policies well in advance to protect against wind damage, structural damage, asset losses, utility disruptions, and flooding. Companies unsure of their current coverage should consult with their insurance carrier to confirm coverage details, exclusions, and supplemental coverage.
Hurricanes are one of the most severe threats to local businesses, so it's important to take the right steps to protect company structures, assets, and workers. At Aegis Insurance & Financial Services, we protect through education, and are pleased to partner with businesses across Texas and the Gulf Coast that might be impacted by hurricanes or other severe weather events. We can create a customized Commercial Insurance portfolio that meets specific and unique needs of businesses. Contact our Aegis office at 713-850-7622 for more information or fill out our online form for a free quote!