Today's topic is Protecting Your Business and Your Future. This topic will extend over several weeks as we break it apart and address all sides of the issue. You know that the safety of you and your business affects your family and your livelihood. You never know what will come up, so it's vitally important to prepare and plan ahead. Let's talk about it!
What you'll hear in this episode:
- Are you prepared for a fire, storm, or theft?
- Do you have the right insurance coverage? Here are some things to think about:
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- Have a business policy in place
- Make sure you have proper coverage for equipment, supplies, and furniture
- Check your declaration page for deductible information
- Have the right policy depending on whether you own or rent your office space
- Inventory your insurable assets—Document everything with pictures, serial and model numbers, and receipts
- If you don't have receipts for purchases, use bank statements for proof
- Update your inventory each year
- Store your inventory information at your business and at home. Consider a safety deposit box also
- In an emergency evacuation scenario, take methodical pictures of each wall and area of your business
- If you suffer a loss:
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- Take photos of the business premises and the damage
- Report your claim to the insurance carrier
- In case of theft, file a police report
Remember to be patient through the processes and have your documents in order beforehand. The goal is to get your business up and running again ASAP!
