Carrying business interruption insurance doesn’t mean that your company can drop the ball when it comes to mitigating interruption losses. Whether you are working to prevent business interruptions in the future or dealing with immediate damages, it’s important that you take responsibility for taking care of business.
Taking Action to Avoid Business Interruption Before Commercial Losses Occur
What can you do to prevent business interruption in the event of severe weather, a fire, or another disaster? Most business owners know that they should have alarm systems and emergency procedures in place, but there are other actions you can take now that can help you prepare for and avoid future losses, such as:
- Creating detailed contingency plans for emergency situations
- Regularly reviewing business interruption coverage and comparing existing policies to your business needs
- Organizing reporting and response systems to take control of loss events
Mitigating Interruption Losses After the Damage Has Been Done
After a storm or fire devastates your business location or causes closures, you can’t rely on your business interruption coverage to cover for your own poor planning. You can help shorten the interruption you experience by taking an active hand in the claims process, making any needed temporary repairs, finding solutions for priority problems, and working toward a swift reopening.
Protect your business by getting informed about commercial insurance claims before disaster strikes. Request your completely free copy of our eye-opening book, Commercial Property Owners Must Read This Before Filing an Insurance Claim, and don’t hesitate to contact our team directly to discuss your concerns.