When a hurricane hits, it can cause severe damage. In these situations, most people usually consider the damage that can be done to their home. However, it is just as important for individuals to have a business to consider this property as well. Owners can work to protect their hard earned business by investing in insurance against hurricane damage. Continue reading below to learn more.
What Insurance Can Protect my Business?
While there is no such thing as “hurricane insurance,” there are ways that a business owner can protect the property of their business in the event that the weather causes damages. This can include the following:
- Property coverage for businesses: A standard business insurance policy can help protect business assets with commercial property insurance coverage. This covers property such as inventory, electronics, tools, and equipment. It can also cover damage done to the structure of the building where your company if the business owns it.
- Business interruption insurance coverage: Not only can hurricanes damage a business, but also the infrastructure that supports it. In the event of long-lasting power outages, road closures, or damage to the business, the company may need to be closed to an extended period of time for repairs. This insurance can allow the business to receive a continuation of income until normal business operations start again.
- Commercial flood insurance: Flood damage is not covered by business insurance. It is because of this that businesses can also purchase this coverage for damages done by rising waters.
What do I do After a Storm?
If your business was damaged during a hurricane, the following steps should be taken to help your insurance claim:
- Mitigate damage wherever possible. This can include covering roof damage with tarps to minimize water damage as much as possible.
- Document everything. Take pictures of the damaged areas and property to prove you incurred losses to your home or business. Also take an inventory of damaged items.
- Keep receipts. If you have to buy items after the storm to either repair or mitigate the damage, receipts can help to possibly receive reimbursement. Depending on your insurance, this may cover living expenses as well.
- File your claim promptly.
Contact our Firm
To discuss your case with our experienced Panama City personal injury attorneys, contact Manuel & Thompson, P.A. today for your free consultation.