Is Your Business Prepared For A Loss?

tightropeA Business Insurance Update

Your business insurance can respond to many kinds of risks and losses. Protecting your business from loss can mean the difference between having a great year, and having to close your doors. According to the Insurance Information Institute, 30% of businesses that have a fire never re-open. Therefore, it pays to have the right business insurance and to manage your tops risks. However, do you know the most common risks faced by most businesses?

Business Risks

Cyber breach – Your small business has a greater chance of having a data breach than it does of having a fire. Make sure you have a cyber liability insurance policy. Don’t save passwords on your computer, use the latest security software, train your employees on cyber security, and never use an open network.
Customer trip and fall – Make sure you keep your business entry clean and clear of clutter.

Flood – Your business insurance excludes flood damage. If you are close to water, make sure you consider flood insurance.

Fire – Every business is subject to fire. Install automatic alarms to ensure proper notification, disconnect equipment when not in use, and never overload sockets with plugs.

Theft – Develop a system for end of day closure procedures. Keep a light on at night. Burglars are less inclined to break in if they think someone is there.

Carbon Monoxide Detectors Can Protect Your Family

smoke-detector-235123_640A Personal Insurance Update

Often called the silent killer, carbon monoxide is an odorless gas that can kill.  Carbon monoxide, also known as its molecular form “Carbonous oxide” (CO) can be found in many household items, including stoves and furnaces.  According to the latest information from the National Fire Protection Association, there were over $100,000 non-fire CO incidents last year.

Your personal insurance will most likely respond to a claim made by a third party, but you or anyone who lives in your home will need to look to medical insurance if you have an illness because of a CO injury.

What are the symptoms of CO poisoning?

According to the Centers for Disease Control (CDC), the most common symptoms of CO poisoning are headaches, dizziness, weakness, nausea, vomiting, chest pain, and confusion.  High levels of CO inhalation can cause loss of consciousness and death.

Carbon monoxide detectors sound an alarm when they sense a certain amount of carbon monoxide in the air over time.

Safety Tips

Make sure all appliances are properly vented to the outside.

Never BBQ inside your home or in the garage.

Follow manufacturer instructions when installing a CO detector.

Install a CO alarm in a central location on every level of your home.

Test your alarms on a regular basis.

If the CO alarms sounds, move to the outside and open doors and windows.

Choose a CO alarm that has the label of a recognized testing laboratory.