The Gulf Coast was recently impacted by Hurricane Laura, a major hurricane that decimated areas of Texas and Louisiana. While many communities were severely impacted by the wind, rain, and storm surge, major metropolitan areas, including Houston and New Orleans, were spared. Although millions are breathing a sigh of relief that their regions avoided major damage, the truth is that hurricane season doesn't end for several more months, and all areas of the Gulf Coast are still vulnerable to hurricane damage and losses. The focus of today's Aegis blog post is what companies can learn from major hurricanes and how they can best protect their business and property from immediate and long-term impacts.
Insurance Coverage Is Key
One of the most important things companies should learn during hurricane season is the need for quality, comprehensive Commercial Insurance. The sobering news footage of businesses with roofs blown away, walls toppled over, uprooted trees on power lines, and flooded buildings should be a wake-up sign for companies that don't have ample coverage, since Commercial Insurance will be the main way these companies can make any kind of recovery. Companies with good insurance coverage are far likelier to recover and in a shorter amount of time than those that have little coverage and have to rely on disaster loans.
Have Contingency Plans in Place
Even though weather technology has improved so much that we know about impending hurricanes several days before landfall, too often companies are caught off guard by the damage they can cause. As a result, owners are left unprepared for reopening or even to get their necessary paperwork in order for insurance purposes. Business owners should strive to avoid situations where the most critical business, financial, and vendor documents are lost to flood waters or high wind damage. To minimize losses and speed up recovery times, companies should create contingency plans so that the business can be up and running, quickly get employees back to work, and be able to remotely access important files and documents from cloud-based network servers.
Stay Weather Aware
Finally, the benefit of good weather forecasting means companies have time to physically prepare their commercial properties from possible hurricane damage. Unlike tornadoes or lightning strikes, the slow speed of hurricanes means that companies have time to board up windows, reinforce doors and entryways, and secure valuable business equipment and merchandise. These proactive steps can go a long way in reducing possible business losses from hurricanes or other storm-related disasters.
Commercial Insurance can't protect businesses from damages or losses when hurricanes strike, but they can allow companies to have the help and financial resources needed to quickly recover and get back on their feet. Aegis Insurance & Financial Services partners with companies across the Gulf Coast region to ensure they have the Commercial Insurance needed when disaster strikes. Contact our Aegis office at 713-850-7622 for more information, or to request a free quote!