A sad sign!

I have been visiting communities that have been affected by natural disasters over the past few weeks.

As I was driving though Gympie, Queensland I could not help but see this sign.

The location of this premises is half way up a hill where there is a very small creek at the bottom. It would appear that this creek well and truly broke its banks during the floods in January. I could not see after all this time if it reached the premises but clearly there would have been a prevention of access issue.

This reinforces the need for all businesses to consider the risks facing them including those from natural/weather based perils. This of course includes flood but also includes fire, storm, and earthquake

What is also clear is that just insuring the building and contents is enough. It is vitally important for the business to consider Business Interruption insurance coverage. This protects the business’s bottom line and allows the business to continue to pay the on-going expenses of the business such as wages, financing costs, and pay any additional costs such as extra advertising, relocation expenses etc.

If you would like more information please feel free to contact me or visit www.needabroker.com.au (their phone number is 1300 53 10 73) and locate an insurance broker near you who will provide you with specific advice for your business.