Hurricanes don’t just impact homes—they can wreak havoc on businesses as well. For businesses in areas that are vulnerable to hurricanes, such as coastal towns or inland regions prone to flooding, preparation is key. From protecting physical assets to ensuring your business can keep operating after a storm, having the right insurance coverage and contingency plans in place can mean the difference between a quick recovery and a devastating loss.
As an experienced local insurance agency, Weed Ross can help protect your business from hurricanes and other severe weather conditions. Below, we’ve outlined a few details as to how you can get started on your own. In this article, we’ll cover:
- Hurricane-related coverages for businesses
- Preparing your business for a hurricane
- Post-storm recovery
- How we can help protect your business
Business Insurance and Hurricanes: What’s Covered?
Just like homeowners, business owners need to make sure they’re adequately protected against the potential damage a hurricane can cause. While standard commercial property insurance offers some coverage, it’s important to know what’s included and whether you need additional policies.
Property Damage
Most commercial property insurance policies cover damage to the physical structure of your business caused by wind or hail. However, coverage for water damage caused by flooding will likely require a separate flood insurance policy.
Business Interruption Insurance
Hurricanes can cause extended periods of downtime for businesses, especially if roads are closed or utilities are disrupted. Business interruption insurance can help cover lost income and operating expenses during the period when you’re unable to operate.
Equipment and Inventory
Depending on your policy, you may be covered for damage to equipment, machinery, or inventory. Be sure to verify the extent of this coverage and whether any exclusions apply.
Flood Insurance
As with homeowners insurance, standard business insurance policies typically don’t cover flood damage, meaning you’ll need a separate flood insurance policy if your business is at risk.
Preparing Your Business for a Hurricane
Aside from securing the right insurance coverage, taking steps to physically prepare your business can reduce damage and downtime. Here’s how you can get ready:
- Create a Hurricane Preparedness Plan: Outline clear procedures for how employees should prepare the business for a storm, including securing equipment, backing up data, and protecting important documents.
- Reinforce Buildings: Consider installing storm shutters or reinforcing doors to minimize wind damage. Check your roof and ensure it’s secure, as it’s particularly vulnerable in a hurricane.
- Backup Data and Equipment: Store backups of critical business data in the cloud or in a remote location. You’ll also want to safeguard any important business documents by keeping hard copies in a safe, waterproof place.
- Secure Inventory: If possible, move inventory or equipment to higher ground or offsite to protect it from potential flooding.
Post-Storm Recovery with Business Insurance
Once the storm passes, recovering from the damage can be a long and difficult process, but having the right insurance coverage can help you get back on your feet faster. Here’s what to expect:
- Damage Assessment: After the storm, assess the damage to your property and begin documenting everything. Take photos or videos of any structural damage or loss of equipment and inventory to submit with your claim.
- Business Interruption Claims: If your business is forced to close due to hurricane damage, contact your insurance provider right away to begin the business interruption claims process. This coverage can help replace lost income and cover expenses like payroll and rent while your business is unable to operate.
- Quick Recovery: With the right policies in place, you can expedite the claims process and get the funds needed to make repairs, replace equipment, and get your business back up and running as soon as possible.
Weed Ross Protects Businesses During Hurricane Season
At Weed Ross, we specialize in helping businesses navigate the risks of natural disasters like hurricanes. Whether you need help evaluating your current policies or adding flood or business interruption coverage, we’ll work with you to create a customized insurance plan that keeps your business protected before, during, and after the storm. From comprehensive property coverage to detailed hurricane preparedness strategies, we provide the support and peace of mind you need to focus on recovery and continuity.
Don’t wait until a storm is on the horizon. Contact Weed Ross today to ensure your business insurance is ready to withstand hurricane season.
