Elevated Flood Risk: What This Means to Your Business

Much as we might want to deny climate change, the evidence of increasing sensitivity to natural disasters reaches all of us. For some, it’s a matter of catastrophic droughts, for others, it’s a matter of elevated flood risk. Experts have recalculated flood risk and where we can expect disaster to strike within the next 30 years across the US.  Your business’s premises could fall into a risk zone. How should you prepare to survive and thrive even if the worst happens?

Find Out About Flood Services in Your Area Before You Need Them

Commercial restoration services are necessary  after a flood. Mopping up operations can be dangerous and require specialized experience. Know who you’ll contact if your business premises fall victim to flood damage. If it were to happen, you might not be in a good state of mind to make the best decisions, so having a plan is the first step in the right direction. 

Many people make fatal errors after floods, for example, entering buildings that have been structurally damaged or contaminated. Know how to keep yourself and your employees safe -and directly after a major flood, that means staying out of the building and getting expert assistance. 

Check Your Insurance Policies

Most business owners have insurance because they understand that losing their capital goods would be disastrous for their business’s survival. But is your insurance up to the challenge? Go through your insurance policies carefully, paying special attention to exclusions. If you were to find yourself in a situation in which you need to claim, only to find that your insurance isn’t sufficient to cover your damage, it will be too late to do anything about it. 

Make sure that you understand your cover in detail, and if you aren’t sure about certain clauses in your policy, talk to your insurance brokers. Ask direct questions and look for direct answers. Feel free to talk to more than one insurance specialist to ensure that you have the insurance you would need in a worst-case scenario. 

You Need a Flood Preparedness Plan

When flood risks are high, the authorities will provide warnings. Will you ignore them and hope for the best, or will you take steps to protect your business? The latter is a better solution, so consider your options. For example, if your building has an upper floor, or access to one, you may have time to move valuable equipment out of harm’s way before you are called on to evacuate the area. 

When formulating your plan, consult with emergency services and trained risk mitigation consultants. Once you have a good strategy, you need to get your staff on board so that everyone knows what their role is in case of an emergency. 

You Can’t Stop a Flood, but You Can Limit Risk

Closing your eyes to risk is never the best solution. Although you will certainly be hoping that your business will never be affected by floods, knowing what you need to do before, during, and after a flood may not only limit damage to your business assets, but could save lives. While you’re at it, do a full risk assessment so that your business has a plan B no matter what happens.  

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