Inadequate insurance coverage can lead to major financial loss if your business is damaged, destroyed or simply interrupted for a period of time. Insurance policies vary, check with your agent or provider.
- Meet with your insurance provider to review current coverage for such things as physical losses, flood coverage and business interruption.
- Understand what it covers and what it does not.
- Understand what your deductible is, if applicable.
- Consider how you will pay creditors and employees.
- Plan how you will provide for your own income if your business is interrupted.
- Find out what records your insurance provider will want to see after an emergency and store them in a safe place.
