If a disaster were to occur tomorrow, an estimated 66% of small business would not have the right insurance policies to recover and rebuild. Many businesses underestimate how much money it takes to recover from a catastrophic event; moreover, many don’t have a specific business interruption policy, which would cover lost income and related expenses. This is crucial to protecting your business.
In addition to securing a solid business interruption policy, here are 3 other tips to help you recover:
- First and foremost, report the incident to your broker so they can assist in minimizing further damage
- Retain any documents including video recordings for the adjuster to inspect and your broker to review
- Log your claim and damage related work each day to demonstrate the size and scope of the investment required to restore normal operations
With preparation and a strong advocate, you can ensure your business is protected and ready for the inevitable.