One of the most devastating setbacks to building and maintaining a successful business is property damage. Not only can property damage ruin your yearly budget by adding unexpected costs for property damage restoration services, but the time taken to repair said damage can interrupt business proceedings. To avoid the frustrations of dealing with property damage, take these 5 preventative steps and know that your business and employees are protected in the event of an emergency.
5 Steps to Protect your Business from Property Damage
- Prevent Water Damage
Leaks and flooding can quickly cause immense and costly property damage in your business. To avoid the need for excessive property damage restoration, you should know exactly where your shutoff valve is and have quick access to it in the event of a burst pipe or leak. It’s also a great idea to install a water damage alarm that can notify you in case you’re not in the business when the leak occurs.
In the cold weather months, keep the thermostat set to a reasonable temperature, at least 65 degrees, and open cabinet doors or insulate pipes to prevent freezing pipes. On the exterior, have your gutters cleaned out frequently to prevent buildup that causes water retention.
- Have Appropriate & Up to Date Insurance
Sometimes, all the preparation in the world can’t prevent property damage to your business. This is why having the correct insurance plan is so vital in saving your business by covering the cost of property damage restoration services in the event of an emergency.
- Take Steps to Deter Burglary
One of the leading sources of property damage for businesses is burglary and vandalism. While this isn’t entirely preventable, you can take steps to deter thieves and vandals and minimize the amount of damage they can do.
Having bright lights outside a business can deter criminals since they don’t want to risk being seen by passersby. Including movement-activated lights works even better because it could scare them off by convincing them they’ve been caught by the business owner.
Be sure that every door and window has secure deadbolts and consider installing an alarm system or security cameras. These can not only prevent criminals from causing excessive damage to your business, but also help law enforcement catch the culprits quickly to protect other businesses in the area from repeat offenders.
- Have a Natural Disaster Plan
If your business is located somewhere with risk of severe natural disasters such as tornados, hurricanes, or earthquakes, have an emergency plan in place for both the business itself and your employees.
The exact plan depends on the natural disaster but can include the installation of storm shutters, trimming or removal of dead trees on the property, and designating a safe room for employees to gather to avoid storm damage, or an efficient exit route in the event of a fire with up-to-date extinguishers readily available to prevent spread.
- Conduct Regular Inspections
As you may have gathered by now, the best way to protect your business from property damage is by taking the proper preventative measures. This should include regular inspections of the building, property, and equipment.
Appliances should be checked for overheating, leaks in water supply lines, and proper ventilation. Inspect the walls, ceiling, and foundation of the building for any cracks, leaks, or peeling paint as this could be a sign of structural issues or water damage and be sure that smoke and CO2 alarms are working properly.