When you own a business, you are responsible for every aspect of that business. You can delegate certain things and pay for other things to get done, but it all comes back to you because you have the last word. But there are a few things you can do yourself in your spare time that can save you a lot of headaches, and money in the long run. Flooding is one thing that you can help lessen the damages from. Here are a few things you can do.
The first thing you can do is figure out what your exposure is. So, do a risk assessment so you can have a good idea of where you stand should the worst-case scenario come true. Consider what materials and machinery might be at risk of damage in your business. Analyze the impact of employees being unable to reach the office and water damage to vital equipment, warehouses or stock. Identify key processes, tools, systems and the staff you will need to keep them running. This information can help you plan for a quick recovery and you can plan how you are going to file and insurance claim.
One of the easier, yet critically important things you can do is to get the right commercial coverage policy. If you’re in a high-risk area, flood insurance will be a mortgage requirement, but many other businesses lack the coverage they need.
Another thing you can do is to ensure that any business property gutters are inspected and cleared regularly. Consider installing barriers to prevent water from entering the building. You can get permanent or removable barriers to seal doors, windows, and even drains.
One more thing you can consider is to keep backup copies of files and records someplace off site. You may not be in a high-risk flood area but these precautions can apply to many other disasters, whether natural, or manmade.
