Are you one of the 70 percent of business owners who do not have a disaster plan? With tornado season upon us, it’s the perfect time to take a step back and think about what would happen if a natural disaster were to damage or destroy your business. Fires, tornadoes, earthquakes and severe storms can have seriously damaging effects to a city’s infrastructure, which includes your physical business location, equipment, inventory, raw materials etc.
The best time to plan for a disaster is not after an incident occurs, but rather long before any signs of trouble. And planning in advance could very well be the difference between picking your business back up and closing the doors for good. Business interruption insurance should be a part of every disaster plan. What does it do?
Business interruption insurance covers loss of income (profits) and fixed operation costs (rent, utilities, payroll etc.) if a covered event prevents normal daily operations. Depending on your policy, it may also cover the expenses associated with setting up a temporary location while your primary location is being repaired or rebuilt.
While insurance coverage is a prudent means of disaster support, there is more you can do to plan for the unforeseen. Your local independent agent can inform you of the natural disaster risks most likely to occur near your business’ location so you can focus the emergency procedures with which you train your staff. You should know how to get out, how to contact your employees and how to remote access your computer network (which should be backed up at least weekly).
What else have you done to prepare for the worst?
We’ll help you find the coverage you need. Call Integrity Network Insurance Group at (512) 989-6006 for more information on Round Rock business insurance.