A Business Insurance Review

There are many risks that can cause a shutdown of your business.  A well-designed business insurance policy is one of the most important ways you can protect your business during an unexpected shutdown.

Fire is the most common loss suffered by most companies. There are several ways a fire can start – here are a few of the most preventable:

9-volt batteries – These batteries have a positive and negative connection which when in contact with metal can cause heat and fire. When storing or disposing of 9-volt batteries do not allow them to come in contact with metal, including items such as steel wool, keys, or a metal trash can.

Chemicals – Chemicals can combust if not stored properly because some cleaning chemicals are incompatible and when mixed become flammable. Always review the safety data sheet regarding the storage of chemicals at your business. Keep containers tightly sealed and remove/replace any leaking chemical containers.

Overused electrical outlets – Most business use many different kinds of devices and computers which can create power surges and other electrical issues. Make sure your circuits are large enough to manage all of your devices.

Birds and animal issues – Birds and other animals can create nests in vents and ventilation systems which can cause a backflow of exhaust.  Check outdoor light fixtures and other areas where birds or animals might nest and eliminate any that you find.

Contact our office to discuss how the right business insurance policy can help your company stay in business even during a shutdown.

Armstrong Timeshare Association (ATA) has been created exclusively for timeshare resorts and HOAs and to assist timeshare resort risk managers and brokers. Our products include comprehensive insurance programs designed specifically for the Timeshare and HOAs industries and the distinct insurance profile for which, often times, basic insurance does not adequately cover. The ATA program includes a property restoration component for major losses assuring minimal downtime and loss mitigation.