Summer is an ideal time to review your insurance policies

The warmer weather often makes it easier to forget the possibility of severe weather. While summer can bring tornadoes or wildfires to some areas of the country, when the sun is shining down, it is common for business owners to be carefree.

There is nothing wrong with enjoying the laid back feel June and July bring, but before company leaders become too relaxed, reviewing their current general business insurance policies is a wise move. That way, when unexpected events occur, such as a severe summer storm, organizations will have as quick of a recovery as possible.

For example, this blog has previously discussed the plight of the Eastern Seaboard and what happened from Hurricane Sandy. While the superstorm made landfall seven months ago, many seasonal storefronts along the New Jersey shore are just now finalizing their rebuilding process.

"The weather has been a little bit against us," Danny Merk, owner of a t-shirt shop along the boardwalk, who lost all of his merchandise during Hurricane Sandy told The Star-Ledger. "So if we get nicer weather things will stay busy and great. It's not going to be as good as last year or the year before. We are battling back from a hurricane."

Pat Hersey has run an arcade along the boardwalk since 1976, and told the news source that the only thing remaining after Sandy was the four walls of the building. Close to $1.1 million in damages were cost, only half of which was covered by her insurance, she said.

Commercial property insurance is essential for any organization, and having an updated policy can help owners return to normal operations following unexpected events.

 

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