Hurricane Preparedness – Is Your Restaurant Ready?
2018 Hurricane Season Starts June 1 and May Be Severe
Colorado State University has issued its 2018 Atlantic hurricane season forecast, predicting 14 named storms, including a greater than normal chance of a major storm striking the US. Restaurants along the US East Coast and other vulnerable areas need to make sure they’re prepared. Here are five critical steps to take now to prepare your, restaurant for hurricanes or other major storms.
Verify your restaurant insurance adequately covers you.
Work with your insurance advisor to review your property policy’s definitions, restrictions, or sublimits, for windstorm and flood. Be sure you have adequate coverage for food spoilage from storm-related power outages. Review your business interruption coverage, including any waiting period (amount of time your operations must be down before your policy starts paying), and whether you’re covered for payroll. It’s important to know how your insurance policy treats water damage. Be sure to review your restaurant’s insurance policy with your agent as soon as possible.
Explore alternative power sources.
Protect your restaurant beyond insurance by making sure it has electricity in times of natural disasters. Know your power company’s plans and track record for maintaining and restoring power after major storms or hurricanes. Evaluate the feasibility of installing a generator to maintain power to your refrigeration in the event of a sustained outage.
Keep detailed records and photos.
Maintain records of your inventory, values of any furnishings and improvements made to your locations. Make duplicates and store them securely offsite. Take multiple photos of the restaurant’s interior and exterior, including ceilings, carpeting, flooring, artwork, and furnishings. These records will be critical for the insurance company when you negotiate your recovery.
Have a business continuity plan for natural disasters.
Work with your risk advisor, finance and operations team to anticipate impacts of a disruption and create a plan to get your restaurant up to speed as quickly as possible. Rehearse regularly and participate in municipal, regional and chamber of commerce disaster planning exercises and discussions.
Evaluate key suppliers.
Check how a storm might affect critical deliveries to your restaurant. Know how your major food and supply vendors plan to maintain operations and recover from a major storm.
Hurricane Coverage for Restaurants – Find Out What You Need Today
Each year, areas affected by major storms and hurricanes see debilitating setbacks for local businesses. With effective planning your restaurant may be able to minimize the impact of a major storm, resume operations faster and speed insurance recoveries. RPA Insurance Services is here to help. Call us at 844-358-2296 to meet with a risk advisor who can help with all aspects of your planning and recovery.