How to Potentially Minimise the Impact of a Storm Claim

Storm season in Australia generally runs from September through to March, however a storm can hit at any time and can cause significant damage. It’s worth taking a few simple steps to make sure that yourself, your staff and your business are protected with whatever comes our way during this severe weather season.

Top 11 Tips on Minimising Storm Claim Impact on Your Business

It is usually too late to check your insurance cover, or to buy a policy once a storm is already heading your way. So here are some tips to help safeguard your business in a severe weather event:

Familiarise yourself with your insurance policy. Ensure that it is current and adequate – what is included in the policy, what are the exclusions? Contact your broker or insurance company if you have questions.
Ensure your stock and contents are correctly valued and insured, including your salon or clinic fit-out. You can also keep an inventory room-by-room of the contents of your business. This will help insurers speed up a claim in the invent of loss caused by storm.
If your business is located beside a river, a lake or creek, check with your broker if they can insure you for flood cover. Have flood risk management strategies in place.
Back up your data. Upload business information and data securely in the cloud, so that you can access it from anywhere if your computer is damaged or you lose access to your business premises.
Install surge protection power boards – our electrician recommends using the Belkin brand.
Unplug your electrical equipment from the wall socket every night at close of business and especially if you're located in an area that is affected by major storms.
A lightning strike can ignite a fire so it’s important to have your fire extinguishers serviced every six months.
Have a closing procedure in place to help ensure all doors and windows are locked securely at close of business daily. This can help to keep your establishment safe from high winds and heavy rains.
Have you changed your phone number? Update your emergency contact details with your staff, landlord and insurance broker so that you can be contacted immediately if something happens. It is also helpful to be familiar with any building security codes and provide those to your emergency contact.
Check in with your landlord to conduct an inspection of the building if you notice the building’s roof and gutters need clearing or if there are any loose tiles or leaks that need fixing.
Create a business continuity plan to help minimise risk and interruption to the operations of your business after major and intense storms. Consider also to get Business Interruption insurance to help keep your business operating while your claim is being assessed.

For professional advice on the insurance policies that are right for your business, or to review your existing policies to ensure that you are protected if in the event of a storm, contact Sparrow Insurance today (07) 5502 8326.

General Advice Warning

This advice has been prepared without taking into account the client's objectives, financial situation or needs.

Because of that, before acting on the above advice, the client should consider its appropriateness (having regard to their objectives, needs and financial situation).

If the advice is related to the acquisition of an insurance contract, the client should obtain a Product Disclosure Statement relating to the product before deciding whether to acquire it.

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