1. Put the Flip Cam to Work
Take a video inventory of your business content. After a total loss you must itemize all of your business content before you can collect replacement cost on contents. Utilize technology like a Flip Cam to help lighten the burden of compiling your inventory. Keeping copies of receipts for any major purchase is also a great idea! Evernote.com is a great resource to keep track of receipts. It’s a free download for any mobile device and also for your computer.
2. Cleanliness is Next to Godliness
Ok, maybe not, but it’s the simplest way to avoid accidents. If you have a parking lot, make sure it is clear of debris, cracks are mended, and changes in walking levels are well marked. Keep entrances and exits clear of debris and spills. If there is a spill, mark it clearly. Having a clean and well-maintained office is the best way to avoid liability and medical payment claims.
3. Seasonal Business?
Think about turning off the water supply before closing down for the cold weather months. Frozen pipes can burst, thaw, and leak. This is one of the most common (and detrimental) types of claims for businesses and can be easily avoided. A good tip is replacing all plastic hoses with metal mesh hoses for all water sources.
4. If You Can’t Say Something Nice…
We have all heard that employers are starting to check prospective employees Facebook pages, but did you know that the insurance industry is starting to see the effects of social media ? Law suits are occurring frequently due to libel, slander, copyright infringement and other personal injury type cases. Always be mindful of what you are putting on your social media sites and always give credit where credit is due. The world of social media moves incredibly fast, but make sure you slow down and think about content before putting it out into cyber space. Once it’s out there, it’s there forever.
5. Protect Client Information
Do you maintain your client’s private information such as birthdates, credit card numbers, home address? If a client’s identity is stolen, your business could be held responsible. Be sure to keep this information stored in secure places with limited access. Did you know that coverage can be purchased to protect you from this? Ask your agent about Data Compromise and Identity Recovery coverage.
Implementing these tips will not only help to protect your business from accidents and claims, it will also show your insurance company that you are willing to put protective measures in place to make sure these things do not happen. Over time, this can help lower your business insurance premiums!