Surviving a business is not an easy game. One has to be in command of the technical as well as non-technical aspects of running the business. Be it an accident in the office or building damage due to natural calamity, everything needs to be managed by the owner. One has to be prepared for unexpected things which includes environmental changes and damage due to weather conditions. In the UK, every year businesses face the challenge of storm and weather damage. For this, they need to make financial arrangement which can be managed through business insurance.
Not all insurance policies offer the same type and extent of cover. For this, you should compare all business insurance providers in the UK. According to the Association of British Insurers, these policies will offer cover for damage to the premises and stock. You can also buy business interruption cover to support additional costs incurred if you are stopping the trade for a temporary set up. Albeit, you will need to prove that the damage is due to a natural disaster.
They may not consider all into the storm damage but may put it under accidental damage and so the pay-out may not be as expected by you. For example, damage to the roof due to a storm would be considered without an iota of doubt but the damage to the building due to the roof would fall under accidental damage. Another major problem that occurs in the UK is snow storms. While damage caused due to snow fall would be easily accepted in your claim but the damage that caused due to gradual build-up of snow would be considered under accidental damage. So, the pay-out may vary as per the terms and conditions.
Safety measures to save your business from weather damage:
An insurance provider will certainly increase the premiums if they find that your business premises is located at a risky place.
When there are chances of extreme weather conditions, you can relocate office equipment to a safer place. Give liberty to work from home so that staff members do not meet with any kind of accidents.
Moving data to a cloud server will save it from any kind of damage. Such measures will leave less chances of damage and so, you need to pay lower premiums.
If there are chances of floods then it’s important to switch off electricity and gas connections to prevent any calamities.
Do not leave lose cash in the company. Put it in a bank or shift it to a safer place.
How to get the cheapest business insurance premiums?
Shop around and compare the various insurance providers and find the one that suits your business.
Maintain the premises well so that the effect of weather gets reduced. This is a preventive measure for an uninsured loss. If the condition of the building was poor and then it got damaged due to bad weather then the insurers would not be willing to pay you for it. So, be careful and proactive about maintaining your premises so that you get to pay lower premiums.
The losses might be covered under accidental damage but for that it should be designed that way. If you fail to maintain the property then the insurance may get invalidated in the event of accidental damage to any person on the premises.
How to choose the right business insurance policy?
Read the small print and become aware of every detail. You should be aware about things that are necessary for your business. Remember, the cheapest policy may not be the best for your company. So, choose the right level of cover for your business and secure it against weather damages.