The summer is here and it’s the perfect time to reevaluate your business insurance policies. Even though you may think that your small business is protected by your current policies, it never hurts to do a quick check. The summer months bring their own hazards and it’s important to make sure that you are prepared for whatever pops up. These are some coverages you may want to think about for the warm weather. Insurance is there for when unexpected events occur, so be prepared before disaster strikes.
Commercial Flood Insurance
Summer rain showers can become troublesome. Those hurricane storms bring a lot of water and can cause flooding. Your property insurance will not cover damage caused by flooding. In order to protect your business from flooding, you will need a separate flood insurance policy. Depending on where your business is located, you may be required to have this coverage. High risk areas require tenants to have flood insurance, but sometimes this is not always enforced. That’s why it’s important to follow up with your insurance agent to make sure that you are protected, especially if you are in a high flood risk area!
Depending on the nature of your company, summer could be a popular season. If you take on more employees, or they are doing additional tasks, revisit your workers comp insurance. Workers compensation protects your employees if they get hurt or sick while on the job. While it is mandatory for businesses to have, if you see an employment spike, talk to your agent to make sure you have enough coverage to protect them. Additionally, educate your employees on safety and best practices. This can help prevent injuries before they happen! If you decide to hire summer interns, there are some things you may want to consider as well. Check out our article for insurance for summer interns.
Business Owners Policy
A great option for small business owners to get a business owners policy, a package deal with a few different types of coverages. They can make sure that you are getting what you need to help keep your business safe. A typical business owners insurance policy package could include:
- Workers Compensation
- Disability Insurance
- General Liability
- Professional Liability
- Commercial Property
- Commercial Auto
Even if you have this coverage currently, look to update it to fit the needs of your business in the summer. If summer brings a change in your business, then talk to your insurance agent.
Through the lemonades, beach days, and summer sun, make sure that your business is ready to take on whatever the universe throws at it. Being protected is important. You’ve put in the hard work to get your business to where it is today. Don’t let a summer storm disrupt all the effort you’ve invested. Talk to your insurance agent to discuss the best way to protect your business this summer. They are the best resource to answer any questions you may have, and they can make sure your business is ready for summer!