Insurance Services of Washington Blog
You yourself know how much time, talent and money you have put into your business when you were still building it. With that in mind, you should protect it from disasters or any unexpected circumstances. In fact, according to a the National Small Business Poll survey, only 38% of businesses in the USA have an emergency plan.
Here are five tips to do if you want to protect your business from man-made and natural disasters.
Conduct a Risk Assessment
When doing a risk assessment, list down what kinds of emergencies will most likely affect your company then try to check what your preparedness level for that emergency is. There are assessment tools available online like the American Red Cross Ready Rating website. In addition to these assessment tools, every business owner should find out if the business has emergency equipment or have a backup for computer data.
Build a Contingency Plan
After you have done an evaluation of your current preparedness level, it is time you should build an operations contingency plan. Do an extensive review of your business operations and identify the aspects of the business that will be critical to its continued operation and survival. Seek the help of professionals who can help you manage these areas.
Construct a Communications Plan
When a man-made or natural disaster strikes, things will definitely turn into chaos. You should therefore decide in advance how communications can alleviate panic and misunderstanding and how it can manage things in advance. One tool that can help you in advance is the social media. You can maximize the use of the social media in order to help solve problems when a disaster strikes.
Get Business Insurance
Damage done by a natural disaster or man-made tragedy will significantly affect your business. Besides, you need to take care of employees' needs too before they start calling their personal lawyers to make demands on you. Only a business insurance policy can give you peace of mind and can help you recuperate.
Review Your Insurance Coverage
As soon as you get your hands on your business insurance policy, do your best to check whether your policy suits your risk assessment. Check your coverage and make sure that they handle the common disaster situations in your area. Additionally, make inquiries about business interruption insurance so that you can have cash to spend in case your business has been stalled due to damage from the disaster.
Some Final Words
It is not easy dealing with a natural disaster when it strikes. You can have all the contingency plans and preparations but still you will need business insurance. Only a business insurance policy can give you peace of mind all the time. Nonetheless, it should not make you that confident nothing will happen, so you must still do your best to protect your business.
At Insurance Services of Washington, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (425) 868-1123. Get your free quote today by clicking here.