Prevention is Worth a Pound of Insurance

As business owners, we’re always looking for new opportunities for growth and expansion. Meanwhile it can be easy to miss the opportunity to prevent business losses closer to home. From fireproof storage to insurance, here are some quick ways to help protect your business.

Prepare for Disasters

Fire, flood, earthquake, hurricanes, tsunamis – the list of potential natural disasters seems limitless. Fortunately, there are some quick ways to keep your business safe.

Prevention is Worth a Pound of Insurance

Insurance

Whether you have a small home business or franchises around the country, insurance is a must. Make sure all your equipment and facilities are covered by renters or owner’s insurance. You’ll need protection from both the actual physical damage from a natural disaster as well as the loss of ongoing income from the business if a disaster keeps your business closed. Liability insurance is also important so that one person’s accidental injury on your property doesn’t ruin your business.

Secure data and valuables

Buy an office safe or deposit safe to store cash and other valuables. Use fireproof file cabinets and other secure storage to keep documents from being lost in a fire or stolen. In addition to being fireproof, these types of secure storage can also prevent water damage and theft. Drop style deposits safes allow employees to drop cash and cheques into the safe without allowing them to open the safe. This can be a significant help in preventing employee theft.

Back-up your computer files regularly and store them securely. Taking these types of precautions will help protect your business if disaster strikes. They may also qualify you for discounts on your insurance.

Have a plan

Prepare a list of vital numbers for you and your employees to use in case of an emergency. Make sure these numbers are easily accessible at work and also at your home. Your insurance company, lawyer, accountant, and any other important data should be listed and employees should know who to contact if you are unavailable or temporarily incapacitated.

Take these easy steps now and your company will be better able to survive and thrive, regardless of what happens. In the meantime, you should also sleep better knowing your business is protected and prepared.