While Hastings Mutual’s six-state region isn’t a target for hurricanes, other natural disasters are a threat. Tornadoes, fires… dangerous conditions exist in every season. You can prepare your home and family by creating an emergency plan — it includes an evacuation route if there’s a fire, a first aid kit, a supply of water, food, and medication, and more.
If you're a business owner, you’ll need another emergency plan too, this one for your office or worksite. Here’s what you can do to be ready before disaster strikes your business.
The U.S. Department of Homeland Security recommends starting with a business impact analysis, a study of the effects of a disaster on your company. If your company is shut down for a few days, how much will that cost you? What’s the price of a “business interruption?”
This can mean anything from profits you didn’t earn for the day to long-term effects like customers leaving your business permanently because your door was closed. There is insurance available: Hastings Mutual’s businessowners policy provides coverage for “business interruption.”
After determining how your business could be affected, develop a plan to prevent those losses.
You can’t always be prepared for a disaster, even if you know it’s coming. Developing a business impact analysis, gathering supplies, and having Hastings Mutual business insurance will help you be ready before tragedy strikes.
Click here to learn more about commercial policies here at Hastings Mutual.
The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.
© 2019 Hastings Mutual Insurance Company. All rights reserved.