Contents
In the past month alone, Britain has had to face two pretty major storms. First, we had Storm Ciara, shortly followed by Storm Dennis – just a week apart from each other. Serving a combination of up to 100mph winds in some regions, and enough rainwater to burst river banks, to say it has been a cause for concern has been an understatement.
When it comes to business, your premises are vitally important. It’s where deals get done and money gets made. And nothing makes you worry more than the unpredictable risks that mother nature can bring. There are a number of different things that you can do once outlets such as the Met Office announces a forthcoming weather warning, and there are policies that you can take out with Todd & Cue to ensure that you are protected when you need it most. So let’s get into it, shall we…
How To Protect Your Business Through Stormy Weathers
There are many things that you can do yourself to protect your premises from harsh weather. The following steps of caution can be:
- Give your building a quick inspection – This may seem dull but bear with us. Many of us never take the time to actually notice the working condition of our premises until it is often too late. If you know a storm is on the horizon, then take some time out of your day to pay attention to the structuring and fixtures and fittings. This way, you will be able to spot any changes down to weather if or when it happens.
- Store any loose fittings indoors ahead of strong winds – This could be portable signage outside, street furniture etc.
- If you are not going to be utilising the facilities overnight, turn off the mains of potential hazards – Whether it be gas, electric. Whatever precautions you can take safely, do it.
- Double check your health and safety policies – You never know what damage could be potentially caused through bad weather, so it is always a good idea to double check your health and safety policies, and remind your staff of them too. Put the necessary steps in place for the workplace and the driveway of the building to ensure both employees and visitors/customers can leave safely.
- Back up any important data – Make backup copies of data that you know you need every day in case any technology gets damaged.
How Can Todd & Cue Help
Todd & Cue are here to protect your business with a secure policy if the worst was ever to happen. In the event of stormy weather, we can provide your business with a fully fledged Commercial Property Insurance policy.
It is important to note that in the event of any damage out of your control happening, you will have to pay for any damage that the property suffers if you do not take property owners insurance, not to mention you will be liable for any third party compensation claims related to the property damage or injury through negligence.
What does a Commercial Property Insurance Policy cover?
Your Commercial Property Insurance will cover the cost of repair or rebuild to your premises or replacing stock and/or equipment. You will be covered against the following risks:
- Storms
- Flooding
- Falling Trees
- Fire
- Riots
- Burst Pipes (water escape)
- Subsidence Theft
What levels of Commercial Property Insurance can I purchase?
There are two different types of Commercial Property Insurance – Building Insurance and Contents Insurance.
What is Building Insurance?
Your Building Insurance will cover the cost of repair or rebuild to the premises if it is damaged or destroyed.
If you own the premises, this policy is equally as important as if you were to rent the building, as it aids in covering you against the (sometimes astonishingly heavy) costs of repair.
*If you rent your premises, then it is in fact your landlord’s responsibility to take out Building Insurance, however as the tenant running your business, you should consider taking out Contents Insurance to protect your belongings for every day business.
Todd & Cue Tip: You should always insure your business premises against the cost of rebuilding the property – NOT against its sale price or current market value.
What will Building Insurance Policies not cover for?
- General wear and tear (such as carpets wearing thin)
- Acts of war or terrorism
What is Contents Insurance?
Contents Insurance will cover the cost of replacing your business’ stock or equipment if it gets damaged or stolen. This policy cover can be crucial at busier periods of business, for example, Christmas time.
Todd & Cue Tip: Make sure that you insure your stock against its cost price, and not its sale price.
Further Caution You Can Take
As well as your Building and Contents Insurance, it is important to bear in mind that sometimes businesses can take a knock during harsh weather. If you are situated near a river, you may have to close temporarily if it bursts its banks and your premises gets flooded.
But fear not – because Todd & Cue are always at the rescue! You can take out our Business Interruption Insurance that will cover you if you are unable to do business as normal as a result of an event that has caused damage to your premises or equipment to operate. This is usually offered when you purchase Building or Contents insurance.
Get In Touch Today…
There’s no better time to act in caution than the present. We may have got over the worst from Ciara and Dennis, however, it is forecast further rainfall towards the end of the week, therefore, act now, and thank us later. Give us a call today on 0191 482 0050 for your FREE quote and professional advice.
