The unthinkable still happens, even if we choose to pretend it can’t.
When a natural disaster arrives, it’s easy to be caught off-guard. Even with all the preparation the Japanese put in to making buildings stand through earthquakes and nuclear power plants survive disasters, the potent quake and tsunami combination still led to a horrible tragedy.
While all disasters are not on the same scale, a significant tornado, hurricane or earthquake here in the United States could shut down your business. If that happens, Fox Business asks, would you have the insurance and the plan to pick up the pieces after?
Senior Managing Editor of Insurance.com Chris Kissell said small business owners often have more to think about regarding disaster coverage than do homeowners, because their livelihood itself is at risk if disaster does strike. If a home is hit by a disaster, the homeowner can usually still make it to work each day, and possibly find a place to stay with friends or family, however for businesses, the situation is typically more dire.
“I may have a place to live, but my income is in danger,” Kissell said.
There’s no easy way to prepare. Buying insurance that covers the disasters most likely to strike your region is your best bet in many cases, though it’s not always cheap. It’s foolhardy to assume your business won’t be touched, so you would be wise to explore insurance options sooner rather than later.
The article notes that in the wake of a large-scale tragedy, many pick up their coverage for a year or two, only to see it dwindle as memory of the incident fades. In the spirit of being well-prepared at all times, I’d suggest you do not do that.
Leave your thoughts on preparing for natural disasters in the comments.
Photo credit to Andrew Beierle at http://www.sxc.hu/browse.phtml?f=view&id=865537
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