Civil unrest has turned into a real concern. If you own a business, you need to safeguard your investment. The best way to do that is to make sure you have the right level of insurance protection. Here are some steps you can take to protect your business during episodes of civil unrest.
Understand Your Insurance Policy
If you do business in a big city, there's a good chance that you'll experience some level of civil unrest. With that in mind, now's the time to go over your insurance policies. You need to know what your commercial insurance covers. This is crucial information to have. It can help you recover, should your business be damaged during the violence. But, you also need to understand your workers' compensation coverage. Without proper workers' compensation coverage, you're at risk. In fact, you may be financially liable for workplace injuries suffered during violent riots. If your policy doesn't cover this type of on-the-job injuries, be sure to update your coverage.
Communicate With Your Insurance Agent
If you haven't talked to your insurance agent in a while, now's the time to do that. Your insurance agent can provide you with valuable information. In fact, if you haven't had your insurance policy audited in a few years, you should have your agent take care of that as soon as possible. An insurance audit will point out areas where your coverage might not be as strong as you need it to be. Not only that, but your agent can also provide you with tips on how to reduce your premiums, which is always beneficial.
Increase Security Around Your Building
If you're worried about civil unrest, and the effect it could have on your business, take steps to increase security around your building. Upgrading your security system is a great step towards protecting your business during periods of civil unrest. For example, If you don't have 24-hour surveillance cameras installed on your commercial building, you should make that investment right away. Surveillance cameras not only increase the security of your building, but they also help to reduce the cost of your business insurance.
Know What's Happening in Your Community
Finally, if civil unrest has you concerned about the safety of your business, make sure you know what's happening in your community. One way to do that is through social media pages. Many organizations promote their protest activities through these social media pages. This information will allow you to take steps to protect your business before the unrest begins. The steps you take in advance can reduce the amount of damage your business suffers, which can reduce the need to file insurance claims.
For more information about business insurance, contact a local insurance company.
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