Resilience starts with the right insurance

Learn what helps you keep your business open after a natural disaster.

Running a business takes vision. You look ahead, plan for growth and see possibilities where others see challenges. But the truth is that storms, floods, fires and earthquakes can disrupt even the strongest business.

In recent years, the United States experienced a 200% increase in disasters since 1980 according to NOAA. Climate Central estimates that the average annual cost of disasters rose to nearly $100 billion, compared to $22 billion in that same time span. What’s more, natural disasters are happening more often. The gap between major disasters has shrunk from 82 days to just 12. That means your business may have less time to recover before the next crisis hits.

Given the frequency and intensity of natural disasters, the question is no longer “if” but “when” you’ll need to respond to one. When it happens, will your business be ready? 
FEMA estimates that 40% of small businesses do not reopen, and those who do, close within one year.

Help your business weather the storm

Storms often bring high winds, heavy rain and potentially long power outages. A hurricane can cause weeks of disruption, even if your building is intact. Fortunately, the right coverage can mitigate the impact.

Solar Energy Solutions Standard property insurance often covers storm damage, but it may not include lost income if your doors are closed. Business interruption coverage fills that gap so you can pay staff and bills while you recover.

Ensure business stays afloat after a flood

Flooding is one of the most expensive and unpredictable risks. Out-of-season events are becoming more common, leaving businesses caught off guard. Water can damage equipment, inventory and essential records. Cleanup is slow and costly. How can you protect your business? Consider flood insurance.

What you need to know: Most commercial property policies exclude floods. You’ll likely need separate flood insurance through federal or private programs. Without it, one flood could wash away years of savings.