Home » Winter-proofing Your Business: Insurance Tips for the Coming Cold Months
November 14, 2023
Lyceum Insurance Services

Winter-proofing Your Business: Insurance Tips for the Coming Cold Months

As winter approaches, businesses face a new set of problems, such as property damage and possible lawsuits due to accidents that happen in the winter. Are you ready to run your business?

There are many things outside of your control that need to be ready. Your business also needs to be winter-proofed. Preparation for the winter is a bit of a hassle, but not! All you have to do is ensure that you have the right insurance coverage in place. Winter presents its own unique dangers to your company, from snowstorms to frozen pipes. To be sure that your company is protected throughout the next winter months, this piece will discuss vital insurance advice. 

You wouldn’t like to let something like a slip and fall on an icy sidewalk, with an average settlement of $10,000 to $50,000, freeze your business, right? So, here are some of the things that a business owner must consider: 

    1. Review existing policies – this includes general liability, property, and any special policies that the business may have. Make sure to understand the coverage, exclusions, and deductibles. 
    2. Business interruption policy – this can provide coverage for lost income and additional expenses incurred during power outages, supply delays or damage during the winter season.
    3. Protection from cold-related damages – this is for winter weather emergencies. Structural damage from snow and ice makes a building unsafe and property insurance covers these kinds of damages.
    4. Pre-winter inspections – to seal the deal, it’s better to be ready than sorry. This demonstrates that you took responsible steps to prevent potential issues.

Considerations for Maryland/East Coast Weather 

The 2024 Farmers Almanac predicts a snowy winter ahead. With temperatures often fluctuating in Maryland, how can you stay protected? For employees that are working in the office, consider plow policies; see more information on Maryland’s Department of Transportation website here. Depending on where your business is in Maryland, flood insurance may be of interest to you. Beyond insurance, there are other ways to winterproof your business; here are 7 more ideas.

To guarantee a safe and prosperous season ahead, begin winter-proofing your company now rather than waiting for the first snowfall. Maintain your warmth and safety!

You can rely on us to provide your business with essential insurance tips for winter-proofing your business. Prepare for the cold months and be worry-free with us!

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