Owning Home Business Insurance is just the first step in being prepared for a natural disaster or any other calamity. There are a few other steps you need to take to ensure that your business and employees are protected.
While Home Business Insurance will take cover the cost of lost physical equipment, it cannot help you restore customer/business information from a soaked or burned hard drive. You will need to have a plan in place to store this information in a secure location that is safe from fire, water and other problems.
Use the following questions as a starting point for developing a comprehensive recovery plan in the event of a disaster strike:
- Have provisions been made for protecting the physical safety of your employees?
- Do you have a crisis management team?
- Where will you set up a command center if your offices are not available?
- Have you made provisions for resuming computer operations?
- Have you identified the most critical aspects of your business?
- Are copies of vital records and legal documents stored safely offsite?
- Can you quickly access your employees’ records? How about key vendors and critical customers?
- Can you contact all the people important to your business?
- Depending on your business, would you need an alternative recovery site? How large should the facility be?
Once you have worked through these questions and put a system of recovery in place, you can rest assured that you will be able to deal with any kind of emergency.
Apart from disregarding the possibility of natural disasters, business owners commonly forget to make plans for their business in the event that something happens to them personally. If you are the only one running your company, an unexpected injury or serious illness could signal the end of your business.
It is not very easy to prepare for illness or injury. If you do not have any employees, your absence can be fatal to your business. Make sure you have a plan so that customers are taken care of if you are incapacitated. Work out an arrangement with a family member or close friend who is capable of handling things for you until you are well enough or able to return.
Personal or natural disasters need not spell the end of your company. Along with owning comprehensive home business insurance Take the time now to make emergency plans for your business. While you cannot always foresee what is going to happen in the future, with careful planning, you can handle many problems that are bound to arise when disaster strikes.