Keep Your Business Afloat


Written by: Categories: Business Insurance

Floods can sometimes be predictable. For example, charting the habitual swelling of the tides establishes typical water levels and indicates when coastal areas might be prone to flooding. However, more often than not, floods can arise without warning—rivers, lakes or the sea can overrun, swamp defences and surge through the surrounding areas.

The fickle nature of Canadian weather only exacerbates the unpredictability of floods, and with so many areas susceptible to flooding, one unexpected severe storm can trigger widespread, damaging floods.

Ignoring the issue of possible flooding can sink your business.

Preparing for Floods

It is impossible to completely flood-proof your property, but flood preparation can lower your business’ risk of damage and reduce business interruptions.

Begin your preparation by consulting your area’s flood risk map, which you can find at www.ec.gc.ca.

Once you have assessed your risk, it is time to prepare your business. Buy and install products in advance that fortify your property against water. Consider the following precautions against flooding when building or remodelling:

In combination with your business’ physical flood prevention measures, adopt these organizational precautions for more comprehensive flood preparation:

Creating a Flood Plan

A flood plan is a written document outlining how your business will respond to a flood. Store your business’ flood plan in an easily accessible location—everyone should know where it is at all times. All flood plans should include the following:

Review and update your plan annually. Flood risks and procedures can change, so make sure your business is prepared.

Staying Prepared

Flood insurance is the ultimate preparation for your business. Check your commercial coverage to make sure you are covered for flood damage. Flooding poses a substantial—and sometimes ruinous—threat to Canadian businesses. The insurance professionals at Schill Insurance Brokers are poised to help fortify your property. Rely on us to provide more flood preparation materials and help keep your business from going under.