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Protecting Your Business From Risks Related To Winter Weather

5 February 2016

Joy Johnson

You don't buy auto insurance and then throw all caution to the wind by driving dangerously, drinking and driving and failing to service your car. That kind of carelessness can easily drive up your car insurance rates or even get your policy cancelled. Similarly, you don't buy commercial property insurance and throw all caution to the wind just because you are insured. There are measures you need to take to reduce the insured risks, and they include:   

Risk Assessment

Risk assessment involves identifying potential hazards and analyzing their impacts on your business. Concerning winter weather, you need to identify all the things that could go wrong during winter and what it would do to your business. After that, you put in place the necessary measures to mitigate those risks.

For example, a risk assessment may unearth roof installations, such as ventilation pipes, that are weak and rusty and can easily be knocked down in a snow storm. That would let water into your property, which may damage your electrical wiring and even start a fire. To mitigate the risk, you have to fix the installation to ensure it can't be knocked down in bad weather.

Disaster Plan

A risk assessment may not cover all the risks, so you need a disaster plan to help you cope when disaster strikes. Make sure every employee is conversant with the plan, for example, by holding workshops and issuing copies of the plan. That way everybody will play his or her part and prevent damage when disaster strikes.

An effective plan should encompass everything, such as the preparation before the storm, the coping mechanisms during the storm, and even post-disaster measures to mitigate damage. You also need the materials for carrying out the plan. For example, your employees should know how to barricade the windows if they get damaged in the storm, and where to locate the materials of the barricade.

Backups

Lastly, your business property should be equipped with relevant backup measures to fall back to in case the standard ones go out of operations or get damaged. For example, electricity, water, and fuel supplies may be interrupted in a winter storm. If you need them to keep your business safe, then you need to provide adequate backup supply.

Despite all these preparations, disaster may still strike and damage your business property. Therefore, you need to analyze how much you would lose in such a situation and insure your business accordingly. 

For further information, contact a local professional, such as Robert L Lilley Co Lpa. 

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