Avoid overly expensive clean-up costs with comprehensive insurance

Companies that have not experienced severe weather might not understand the importance of insurance policies that can account for damages that follow a storm. The cleanup process can be expensive and long-lasting, and without taking the right precautions, business owners might be stuck with the bill when it comes to making repairs.

However, commercial insurance specialists can help organization heads find the right policies that meet the needs of their firm's location. Without commercial property insurance the recovery process could prove particularly devastating to small business owners.

Many New York small businesses remain deflated post-Sandy

It has been four months since Hurricane Sandy hit the East Coast, causing severe damage to New York City and surrounding areas. Many small businesses are still feeling the repercussions and are working toward a full recovery and drawing in customers. 

According to the Associated Press, 85 percent of small businesses in lower Manhattan, near the South Street Seaport, are still boarded up. Major chain stores like Ann Taylor, Brookstone and Coach, remain closed. Con Edison, a utility company, said that 10 major buildings remained without power as of February 13, most operating on emergency generators.

Nicole Osborne tends the bar at Meade's Restaurant, which resides near the South Street Seaport.

"We don't have a lot of traffic," Osborne said. "It's like we've been forgotten."

Meade's was actually able to reopen, thanks to a $25,000 grant that its owner received from the Downtown Alliance. The organization is a neighborhood association that has doled out 100 grants to small businesses totaling about $1.5 million.

Not all companies can guarantee such responses after severe weather. It is part of good planning to have a comprehensive insurance policy in place that can help small business owners recover after numerous situations.

 

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