How Summer Storms Can Impact Your Business Insurance Coverage

Lubbock, TX businesses may face weather-related challenges throughout the year, especially during the summer months. Fransan Insurance Service offers business insurance solutions that can help address property, equipment and operational risks.

Common Weather Risks for Texas Businesses

Businesses in the area may face risks such as:

• Wind damage: High winds can strip roofing, damage signage and compromise exterior structures.
• Hail impacts: Hailstorms may break windows, dent vehicles and destroy outdoor equipment.
• Lightning and power surges: Lightning can trigger power surges that damage electronics, cause outages or start fires.
• Floods: Even businesses in low-risk areas and not near large bodies of water may be at risk of flash flooding due to intense rainfall events.

Evaluating Your Commercial Property Insurance

Physical assets may be among the most at-risk during storm season. A thorough review of your commercial property insurance can help confirm that wind and hail damage are adequately covered. Business interruption coverage may also play a key role by helping replace lost income and cover ongoing costs, such as payroll, if a severe storm requires you to close temporarily. For certain perils excluded from standard property insurance, such as floods, you’ll need specialized coverage.

Liability and Safety Concerns

Storms may also introduce liability concerns that are easy to overlook. Incidents that can arise during or after a storm include:

• Slick floors: Tracked-in rain can make entryways and indoor surfaces slippery, possibly leading to guests, customers or passersby being injured by falls.
• Parking lot debris: Fallen branches, scattered materials or standing water may increase the risk of trips and falls.
• Poor visibility: Weather conditions can exacerbate dim lighting during a storm, making it harder for visitors to navigate your property safely.
• Property damage: Storms may also cause property damage to others for which you may be held responsible, such as if you failed to fully secure signage and strong winds blow it into a neighboring building’s windows.

Reviewing your general liability coverage can help verify whether you are covered if you’re blamed for another party’s storm-related losses.

Storm Preparedness and Its Role in Your Coverage

Taking the following preventive measures before severe weather may help financially protect your business property and support future claims:

• Securing outdoor equipment and signage
• Documenting business assets
• Maintaining your property
• Keeping records of improvements

Fransan Insurance Service Supports Your Business

Contact us today to discuss business insurance options for storm-related risks and request a personalized quote.

 

 

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.