When it comes to our homes, we’re often quick to insure them so that in the event of a nature disaster or accident our property is financially protected. Why wouldn’t you do the exact same for your business?

Following Hurricane Sandy’s recent destruction in the northeast, formerly mundane business considerations and administrative tasks have now become high priority for countless small business owners.

Employer Solutions Plus offers the following small business checklist for disaster prevention:

1. Selecting the right coverage, in advance: Property Insurance, Business Interruption Insurance, Liability Insurance… which ones are right for you and your business? The amount of coverage (and types of coverage) will depend on the type of business, size of business and amount of risk. You will want to work with an insurance professional to make sure you have adequate protection.

2.Buildings: Do you own your building? If so, do not under-insure it; this is a common mistake. Buildings are not insured for their market price, but instead for the amount that it would take you to rebuild its structure.

3. Property: Have you created a master list of everything you own? Has it been updated within the past few months? Make a list and place a value next to each and every property category.

a. Computers

b. Phones

c. Equipment

d. Printers/Scanners/Copiers

e. Merchandise

f. Furniture

g. Fixtures (Including Lights, Shelving)

h. Promotional Items

i. Office Supplies

j. Fridge/Microwave/Coffee Maker

k. Artwork

l. Signage

m. Anything tangible! Even if its value is small, it can quickly add up in the event of a loss.

4. Property in Transit: Do you import or export your products? These items need to be insured as well! Do you have remote employees? Don’t forget to account for their equipment.

And, speaking of employees….Are they all insured? Unexpected natural disasters and workplace emergencies can also result in employees injured at your place of employment, which directly affects your workers compensation insurance. And, it’s within every employee’s best interest to have adequate health insurance for accidents that could occur on or off the job.

Maintaining the proper coverage for all types of business loss is the best possible way to protect the financial health of any small business. You must continually analyze your company’s assets and areas of exposure to help limit your risk. Businesses that are prepared are financially safer in the event of a catastrophic loss.

To learn more about the various types of insurance that are extremely important for the small business owner, contact Employer Solutions Plus.