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6 ways to bubble-wrap your small business

Article provided by King Price Insurance

All companies are prone to risk but being properly prepared can save you from the worst. In fact, it’s a condition of most insurance policies that you take all reasonable steps to maintain your buildings and business assets so as to lessen the likelihood of accidents happening.

All hail often breaks loose

Protect yourself from damage due to fire and subterranean fire, lightning, explosions, earthquakes, and other weather-related perils, such as storms, wind, water, hail, and snow. Preventative measures include, cutting down trees and branches that could fall on the property, and installing surge protection to withstand damage to electronics due to storms or load-shedding.

Locking the door isn’t enough

Minimise loss or damage to office contents at your business premises by installing security measures and CCTV to dissuade theft.

The inside job

Avoid disappointment and damage due to financial loss resulting from fraud or dishonesty by an employee, by adopting methods that will decrease motive, restrict opportunity, and remove temptation. To protect yourself against an ‘inside job’ focus on developing a sound ethical culture by hosting training and fraud awareness sessions, and introducing policies, procedures, and controls.

Don’t go off the rails

Protect your business against the loss of, or damage to goods in transit by introducing a register to keep track of all business property that’s removed from the premises and package all goods safely.

Don’t wait for an accident to happen

You can do a lot to protect your employees and your business from accidents. Make workplace safety a priority by:

  • Posting guidelines about safety best practices.
  • Keeping your eyes peeled for potential causes of accidents and repairing them.
  • Having regular drills to ensure that employees know how to navigate an emergency situation.

The big bang theory

Although there are many preventative and protective actions you can (and should) employ to keep your interests all snug and safe, natural and man-made disasters, dishonest people, bad weather and Murphy’s Law are all too unpredictable. So, from time to time, things could still ‘hit the fan’. But you can act to ensure that your business doesn’t suffer any substantial financial losses when things do go wrong, by insuring your business against all those anomalies.

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