A Commercial Insurance Update
Every business is exposed to possible damage or loss during non-business hours. That is why your commercial insurance needs to consist of “all risk” coverage to include vandalism, theft, and burglary. In addition, there are actions you can take to help reduce the chance of having a loss after hours.
Risk Management for Small Businesses
- Have adequate exterior lighting. This should include a light at every door, preferably on a timer.
- Set up exterior and interior security cameras.
- Maintain accurate records of what is in your building. In the event of a robbery, up-to-date records can help you determine what is missing so that you can file claims more efficiently.
- Use motion lights that illuminate vulnerable areas.
- Burglar alarms are perhaps the most obvious means of burglar protection.
- Have a secure place in your business for cash or other valuables. A fireproof safe is a good way to store valuables.
- Change your keyed lock to a keyless entry.
- If you have keys, limit the number of people who have access. Change then at least once per year.
- Do not have many goods stored out in the open. Use fencing if you must have products in the yard.
- Use impact glass for windows and doors.
- Buy the right business insurance; this coverage protects your business from having to shut down after suffering a burglary, minimizing the financial impact that your business undergoes after a theft.