What would you do if your business no longer existed due to fire?
That’s what happened Sunday night to a Long Island, New York-based florist. You can read the story at Newsday.com.
Everything was destroyed including the gift baskets also sold by the florist.
When asked about the value of his merchandise, the owner said,
“…he could not estimate his losses. ‘I couldn’t even fathom it,’…”
What a terrible situation.
Do you have a backup plan in case of fire, flood, or other situation that temporarily or permanently halts your business? Here are some things to do now before the week ends.
1. Take photographs of your workspace, inventory, and equipment.
Years ago when my husband’s car was stolen, he had lots of tools in the trunk. The insurance company would not pay him for the loss because he had no proof of ownership.
Even though he no longer had receipts, photographs would have provided proof and allowed him to recoup some of the investment.
2. Review your business insurance to learn which documents are best kept in a location outside of your workspace.
Insurance carriers don’t object to cashing your premium checks as much as they seem to object to paying you for losses. Make sure you understand the policy for your own protection.
3. Install a fire alarm in your workspace.
You may not be able to install a sprinkler system, but a fire alarm will create attention.
The florist’s fire occurred during the Columbus Day weekend. If your office is closed on certain days, perhaps unplugging all equipment before leaving is also wise.
Here’s where to learn more about photography and insurance.
What precautions have you taken against unforeseen circumstances?
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