The 2018 hurricane season is projected to end by the end of the month, but it’s already produced a lot of damage to homes, communities and business across the United States’ southeastern section. This damage, whether it’s flood, wind or emotional, is still being assessed and the overall financial total may not be calculated for some time. However, The Balance points out that on average, storm seasons cost the U.S. about $28 billion a year in damage, with that rate projected to rise to $38 billion by 2075.
Until we know the final number of this year’s hurricane season, we can still understand that property damage to businesses is still relevant. Businesses can take a number of measures following hurricanes and major storms to assess damage and set out a plan to recover in a number of ways.
Insurance Help
This year’s storms have made some level of impact on businesses along the sprawling coastline of Florida. Orlando Business Insurance programs are in place to help these businesses, no matter the size or industry, prepare for the overall damage that storms produce.
Businesses can work with insurance professionals to outline the best type of coverage their operation would need, such as Commercial Property coverage,which helps to replace or rebuild after assessing flood and wind damage from a storm. Having insurance set adds the security needed to be ready for impactful storm damage.
Planning Ahead
Outside of setting up an insurance plan that supplies peace of mind, business owners should get ahead of storms and be diligent about prepping. After a storm, business owners will benefit from working with a contractor when it comes to repairing and/or rebuilding. But you can bet that businesses in the affected region will be dialing up all available contractors and you may be left with an unqualified contractor.
Plan ahead of time and already have a contractor lined up to help get things back on track with the physical element of your building or premises. Also, backup generators are always helpful when it comes to getting things back up and running, but are hot commodities during the aftermath portion of a hurricane. Always have a good number of these in place already so you’re not out of luck.
Keep Your Customers/Clients and Employees Updated
Following a storm, there are many different people who will be looking to you for next steps. You may want to consider keeping those who need to know any updated informed, such as employees and customers. There should be a plan in place to reach out to everyone with initial news, such as damage and recovery timeframe, and make sure that your employees are safe. If phone lines are down, do your best to inform people via social media and email if possible.
Clean Up and Cash Flow
Before your business gets back up and running, you have to get everything cleared and cleaned. Before this lengthy process takes place, check with local authorities to make sure you know the proper disposal procedures and which items may be recycled. You should dry out your premises as much as possible as moisture leads to a number of health issues, such as mold.
Dealing with Data Loss and Business Interruption
Having a comprehensive disaster recovery plan set in terms of data loss and business interruption keeps you a step ahead of downtime. Have detailed and measured recovery points, such as how frequently your data is backed up, and recovery times, including how quickly information needs to be back up and running after data loss, to eliminate further loss and downtime after a disaster.
About Newman Crane & Associates Insurance
Deciding what coverage you need and what limits and deductibles make the most sense can be tricky. Since 1965, Newman Crane & Associates Insurance has been helping Central Floridians make sense of their options and make the smartest choices for their circumstances. Whether you need Warehouse Insurance or any other type of business or personal coverage, we encourage you to contact our friendly, experienced, and capable team today. Call us at (407) 859-3691 for a consultation.