Ice and snow, power outages and extreme temperatures are just a few perils that pose significant challenges for small businesses. Small business winter risks put your customers in danger, and can put your business in a vulnerable position for liability suits. Know the risks and how to circumvent problems.
Prompt removal of snow from parking lots and sidewalks keeps customers and tenants safe from slipping and falling on ice, and it also prevents people from tracking snow into your buildings, where it melts and then creates another hazard. Develop a strategy to respond to snow and ice. Have enough salt and shovels on hand, designate employees to remove snow and apply salt as necessary or hire out the job.
Fire protection devices such as sprinklers and extinguishers are especially vulnerable in colder temperatures. Make sure you schedule annual maintenance for the equipment to ensure it’s in good working condition.
Your business’ furnace plays a vital role in winter, especially if you store or manufacture sensitive equipment. Ensure the building maintains a consistent temperature by replacing an outdated furnace and servicing the heater every fall. Do the same for water heaters, boilers and ventilation systems.
Review your business insurance annually with your local, independent insurance agent. Discuss liability limits and premiums, and investigate additional coverages like business interruption insurance and water damage policies.
Where do you see weaknesses in your business’ insurance? Do you need to talk to an expert about mitigating small business winter risks? Talk to the professionals at the Spreng-Smith Agency about insurance coverages for your business. We’re happy to walk our neighbors in North Central Ohio through the options for protecting personal and business property, or upgrading auto insurance or home insurance.
Tell us: Do you hold additional insurance coverages for perils like snow hazards or loss of business?