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If your business requires the use of heavy equipment - such as tractors, backhoes, and forklifts – chances are a large percentage of your business assets are tied up in that equipment, making the protection of that equipment from damage or loss a high priority for you and your business. 

According to the 2012 Equipment Theft Report from the National Insurance Crime Bureau (NCIB), the total value of stolen equipment in 2012 was close to $300 million.  Those numbers don’t include losses from business interruption, project-delay penalties, and wasted workforce time. 

Here are some eye-opening statistics from the NCIB report:

• In 2012, a total of 10,925 heavy equipment thefts were reported to law enforcement in the U.S.
   
• Texas ranked number one in 2012 with 1,401 reported thefts. In second place was North Carolina with 1,037 thefts, followed by Florida in third with 890 thefts. 
   
• The three most stolen heavy equipment items in 2012 were mowers (riding or garden tractor: 5,363), Loaders (skid steer, wheeled: 1,943), and Tractors (wheeled or tracked: 1,459).
   
• Heavy equipment manufactured by John Deere was the number one theft target in 2012 followed in order by Kubota Tractor Corp., Bobcat, Caterpillar and Toro.
   
• Most often, equipment was stolen from a work site where there is usually less physical security.

A Poor Recovery Rate Means Construction Company Insurance for Heavy Equipment is Critical

Perhaps the most alarming statistic in the report was the recovery rate - “Of the 10,925 reported equipment thefts in 2012, [the National Crime Information Center] NCIC reported 2,204 recoveries.”    With a 20 percent recovery rate, the loss of stolen equipment is costly to insurance companies and equipment owners alike.  In fact, theft is the most frequent cause of heavy equipment loss. 

Theft Prevention Strategies

The good news is that in addition to protecting your equipment with the appropriate insurance, there are also measures you can take to significantly decrease the chance of a theft in the first place.  Here are some theft prevention strategies from the NCIB. 

• Install hidden fuel shut-off systems.
   
• Remove fuses and circuit breakers when equipment is unattended.
   
• Render equipment immobile or difficult to move after hours or on weekends by clustering it in a “wagon circle.” Place more easily transported items, such as generators and compressors, in the middle of the circle surrounded by larger pieces of equipment.
   
• Maintain a photo archive and a specific list of the PIN and component part serial numbers of each piece of heavy equipment in a central location. Stamp or engrave equipment parts with identifying marks, numbers, or corporate logos.
   
• Use hydro locks to fix articulated equipment in a curved position, preventing it from traveling in a straight line.
   
• Use sleeve locks to fix backhoe pads in an extended position, keeping wheels off the ground.

Play it Smart: Insure Your Heavy Equipment

Since no amount of prevention will stop every thief, it’s important that you contact an American Insuring Group agent at (800) 947-1270 or (610) 775-3848 to make sure that you have the right insurance for your expensive heavy equipment in the event of a theft.

A new year is a great time for reflection and fresh starts.  It’s the perfect time to put the past behind you and look toward the future.  Compared to losing those extra 20 pounds, protecting your family in the event of a death is a surprisingly easy New Year’s resolution. 

Although most people don’t want to think about their own death or the death of a loved one, preparing for the event is one of the most selfless acts you can do for your family. 

Life Insurance for the Primary Breadwinner

The first thing you want to do, if you haven’t already, is ensure that the primary breadwinner in the family is covered.  Nothing can replace a spouse or a parent, but the financial consequences of that loss are another matter.  Life insurance can protect the surviving family members from the loss of future income and the expenses that occur as a result of a death.  Most people understand the importance of life insurance for the primary breadwinner, but there are other considerations as well.

Life Insurance for your Spouse

Very few families today can survive on one income, so even if a spouse makes less than the primary breadwinner, you should take a look at what the loss of that income would mean to your family.  Could you survive financially if you lost that second income?  Or, let’s say that spouse doesn’t produce a monetary income, but he or she is the primary caregiver of children or aging parents.  What would it take, financially, to replace that care?  No, life insurance can never replace the love of that caregiver, but it can give the survivors some peace of mind that their essential needs will be taken care of.

Life Insurance for your Children

Finally, the death of a child is probably the worst thing that can happen to anyone, and it’s every parent’s worst nightmare.  It’s something no parent wants to even consider, but in the event that something should happen, life insurance can at least alleviate the financial burden of a child’s death.  Many people believe that purchasing life insurance for children is a giant waste of money.  Your children probably aren’t bringing home a paycheck that you rely on to pay the bills, but there are other factors to consider.  

• The average cost of a traditional funeral is almost $6,600, according to the National Funeral Directors Association. Cemetery services, including the gravesite and vault or liner, can cost an additional $3,000.  A life insurance policy on your child allows parents to grieve without the burden of worrying about how they will pay for the funeral.
   
• Medical bills left from a prolonged sickness and/or emergency room visits can accumulate and become a burden to a family mourning the loss of a child.  A National Institute of Health (NIH)-funded study found the average cost for an ER visit was more than $2,000. In 2012, 11 of the 12 FDA-approved drugs for cancer were priced above $100,000 for a year of treatment.
   
• Your child may develop a condition later in life that will preclude them from purchasing life insurance in the future.  Protecting your child early in life can ensure they have protection in the future.

Protect Your Family with the Right Life Insurance

Looking to the future by protecting your family with life insurance is one of the easiest and most selfless resolutions you can make.  Make it a goal to protect your family with the right life insurance.  Contact us at American Insuring Group at (800) 947-1270 or (610) 775-3848 to learn more about affordable life insurance policies available for your entire family. 

Be honest!  Did you make any New Year’s resolutions this year?  If you did, you weren’t alone.  According to Statistic Brain, 45% of Americans “usually” make New Year’s resolutions, and according to Constant Contact®, 53% make business-related resolutions. 

Statistic Brain found that losing weight is the number one New Year’s resolution for 2014 – no surprise there.  And number two?  The second most popular resolution for 2014 is – drum roll please - getting organized.  Now if losing weight is on your list, there are many other organizations more suited to helping you than an insurance company (unless you want to know how weight could possibly affect your life insurance premiums).  However, a good insurance agent can help get your business organized.

Getting organized isn’t just about “A place for everything, everything in its place,” as Benjamin Franklin said.  It’s also about having everything you need so your business can run smoothly and profitably.  The right business insurance can help your business do just that - and protect it by minimizing financial risks associated with unexpected events.

Commercial Liability Insurance

First, you should consider liability insurance to protect your company’s assets in the event that someone gets hurt on your property or you (or one of your employees) cause property damage or injury.  Even if you doubt you’ll ever face a claim, we live in a litigious society; purchasing liability insurance is a wise and affordable investment.  There are a wide variety of commercial liability insurance options such as general liability insurance, product liability insurance, and error and omission insurance. 

Commercial Property Insurance

Commercial Property Insurance is another insurance to consider.  It covers everything related to the loss or damage of company property due to events such as fire, windstorm and hail, smoke damage, vandalism, theft, and more. “Property” may include lost income, business interruption, and company papers, as well as equipment and buildings.

Commercial Vehicle Insurance

If you use a vehicle – whether you own it or not – for any purpose other than driving to and from work, you should check your existing insurance policy to see if you need a commercial vehicle policy.  Standard vehicle insurance coverage includes bodily injury and property damage liability, personal injury protection, and physical damage to your vehicle including comprehensive and collision coverage. 

Worker's Compensation Insurance

Worker’s Compensation Insurance is mandatory in most states (including Pennsylvania), and covers employees for work-related injuries.  A typical "workers comp" insurance policy pays lost wages and medical expenses incurred due to a work-related accident and protects the employer against accident-related lawsuits.  

Business Umbrella Insurance

Finally, umbrella liability insurance is a type of commercial insurance that covers a small business for liability claims that exceed the underlying limits of liability coverage.  Umbrella policies are a type of commercial insurance that adds an extra layer of public liability insurance protection.  

Now is a Great Time to Review Your Business Insurance Needs

Whether “getting organized” is on your list of 2014 New Year’s resolutions or not, now is a great time to review your insurance policies to ensure that you have the right coverage to protect your business and allow it to run smoothly.  AIG would be very happy to help you with this resolution.  Contact us at (800) 947-1270 or (610) 775-3848 to arrange a policy evaluation.  Then you can sit back and enjoy your well-ordered office space, knowing that it’s protected.

Unfortunately, you’ll have to call someone else if you want help losing weight!

What do Legs Have to do with Key Person Life Insurance?

We’ve all heard stories about celebrities insuring various body parts for ridiculous sums of money - most famously, Betty Grable’s legs were insured for a million dollars. Why would anyone insure such a thing? The fact of the matter is, her studio made a lot of money off of Betty Grable’s appearances, and a large part of her appeal were her fabulous gams. If her legs had been marred in any way, her ability to sell movies and posters would’ve been greatly reduced.   

Now, think about this.  Are there any parts – such as key person - of your business that, if lost, would significantly impact your bottom line?

Who is a Key Person?

A key person in your company is like Betty Grable’s legs. That person could be one of your executives, your best salesperson, your gem of an office manager who keeps things running smoothly, or an old hand who knows where all the skeletons are buried (figuratively, of course!). A key person is any employee who, if he/she suddenly passed away or became unable to work, would cause your business to struggle. Look around your office – who couldn’t your business afford to lose?

The Vulnerability of Small Businesses and the Need for Key Person Insurance

Getting Key Person Life Insurance is especially vital for small businesses, both because they generally have a thinner line between success and failure, and because they have smaller workforces. A giant firm with offices all over the country may not have any employees who are irreplaceable; since they are all tiny cogs in a giant machine with many redundancies, while a small company with only a few employees has less overlap in responsibilities.

With a small workforce, employees often have unique and specialized knowledge and connections that may not be easily replaced. Also, for businesses just starting out, if one of the partners has an accident, the poor fledgling company would be doomed to fail unless there was some kind of cushion. That cushion could be a Key Person Life Insurance policy.

Grieve without the Worry

Of course, the loss of any employee’s life - regardless of how essential they were to your business - is an awful thing to contemplate. A Key Person Life Insurance policy can allow you to grieve, without the worry of how you’re going to be able to keep the company afloat until you find or train a replacement.

Is Key Person Life Insurance Right for Your Business?

If you have people who are as valuable to your business as Betty Grable’s legs were to her, contact American Insuring Group at (610) 775-3848 or (800) 947-1270 for information on Key Person Life Insurance policies for your business!

Do you want to become a burden to your family? Of course not.

Do you have homeowner’s insurance to protect your home in case of a fire?  Chances are you do.  It’s a very scary thought and – wisely - very few people think twice about protecting themselves against such a possibility. 

Less Than 8% of Adults Have Long Term Care Insurance: Why?

OK, next question… Do you have long term care insurance (LTCI)?  There’s a good chance that your answer is no.  Recent statistics show that less than 8% of U.S. adults and about 10% of seniors have long-term care insurance.  And yet, nearly 10 million people in the U.S. (37% under age 65 and 63% over age 65) needed some form of long-term care in 2000 (see http://longtermcare.gov/ for more information).  It’s estimated that almost 70% of people turning age 65 will need long-term care at some point in their lives. 

Bottom line… Your chances of needing to make a claim for long-term care are considerably higher than making a claim for a fire.

What Exactly is Long Term Care Insurance?

LTCI helps pay the cost of care for seniors or individuals with disabilities if they should ever need it over a long period of time.  It helps pay for the cost of care for individuals unable to perform the basic activities of daily living (ADLs) -- such as bathing, eating, getting in and out of bed, dressing, and going to the bathroom – over a long period of time. 

Depending on the policy, LTCI may cover home care, assisted living, adult daycare, respite care, hospice care, nursing home, and Alzheimer's facilities. Certain policies will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse.

The cost of an LTCI policy is based on:

• Your age when you purchase the policy
• The maximum amount that a policy will pay per day
• The maximum number of days/years that a policy will pay
• Any optional benefits you choose, such as benefits that are adjusted for inflation

What is the Cost of Long-Term Care and Who Pays for it if You Don’t Have LTCI?

According to the U.S. Department of Health and Human Services, in 2010 the average cost for long-term care was more than $6,000 per month in a nursing home, more than $3,000 per month in an assisted living facility, or $19-$21 per hour for a homemaker or home health aide. 

One of the biggest misconceptions about long-term care is that it’s covered by Medicare.  Medicare only pays for a maximum of 100 days if you need skilled services or rehabilitative care in a nursing home.  It does not pay for non-skilled assistance with Activities of Daily Living (ADL), which make up the majority of long-term care services. 

Medicaid pays the largest share of long-term care services, but only applies if your income is below a certain level and you meet minimum state eligibility requirements.

Other federal programs such as the Older Americans Act and the Department of Veterans Affairs pay for long-term care services, but only for specific populations and in certain circumstances

Benefits of Long-Term Care Insurance

More and more people are purchasing LTCI to protect themselves in the event that they need long-term care.  Some of the benefits include:

• Ensuring that you will be taken care of should you need long-term care
• Allowing you to live as independently as possible without burdening your family 
• Allowing you to spend family time with your children rather than caregiver time
• Protecting your savings
• Premiums paid on a long-term care insurance product may be eligible for an income tax deduction

Learn More about LTCI

If you want to ensure that you can live independently and not become a burden to your family and friends in the event that you need care over a long period of time, give us a call at (800) 947-1270 or (610) 775-3848 or contact us by email.  The sooner the better!

While most Pennsylvania homes and businesses are not considered to be in a flood plain, that doesn't mean that buildings in Pennsylvania don't flood. Even low risk areas suffer flooding due to poor drainage systems, blockages, broken mains, or rapid precipitation. The average homeowner's and business insurance does not cover flood damage, so it merits a discussion whether to purchase a flood insurance policy to protect yourself.

A Flood? What are the Odds? (Answer: More Than You Think!)

If your home or business is located in a flood-prone area, you were probably required to purchase flood insurance by your lender, so you have probably skipped this whole topic! The fact is, though, that about 25% of flood claims come from buildings in low or moderate risk areas, so no area is completely risk-free when it comes to flooding.

Flood Insurance? I’m Just Renting!

Even if you are just renting, you should still consider flood insurance if you have valuable equipment you couldn’t afford to replace. So if you run a scuba shop you might be okay, but everyone else should take a look at their computers, copy machines, and everything else it takes to run a business and picture them in a foot of water. Renter’s insurance can keep you covered in case that happens.

How Much Will Flood Insurance Set me Back?

To get an accurate quote on your potential flood insurance premiums, you’ll need a property value assessment and an estimate on the value of the contents of your property. If you do live in a lower risk area, the premiums can be surprisingly reasonable since it is less of a gamble for insurance companies.

What’s Covered?

Homeowners can buy coverage for up to $250,000 for the building and $100,000 for the contents. Business owners can get coverage for up to $1,000,000, half for the building and half for the contents. Renters can purchase coverage up to $100,000. If your property or equipment is worth more than that, you may want to consider getting excess coverage. When considering various plans, confirm whether the coverage is based on the current value of an item or the replacement cost.

So don’t wait until you see the ark float by; find out what kind of flood insurance works for you to protect your home and business!  Give us a call at (800) 947-1270 or (610) 775-3848 or Contact Us by email.

Workers' Compensation Insurance and Minimum Wage Increases

Everyone earning minimum wage or paying minimum wage is surely paying attention to discussions in Washington and state capitols across the country about increasing federal and state minimum wage. This is great news for those currently earning minimum wage ($14,500 a year for a full-time employee), but business owners are perhaps a little less enthusiastic at the prospect. Not only does a required increase in salaries cost more in wages, it also has the potential to cost more in workers' compensation payouts.

For or Against Minimum Wage? It's Still the Law

We all know the arguments for and against increasing the minimum wage. Whichever side you agree with, if the law changes, you need to be prepared to roll with it. If you are an employer, look on the positive side - you will be able to retain experienced workers longer, and you will have a larger (and hopefully better quality) pool of applicants to choose from,  since people who have been unemployed will now have more incentive to put their kids in daycare and drive to work for you.

Minimum Wage Down Side - For Every Silver Lining, There's Got to be a Cloud!

The drawback to people coming back to work after a long break is that newly rehired workers are more likely to get injured while they're getting back into the swing of things. Many minimum wage jobs are also the most physically demanding. Your new workers may be out of shape and just not in the "safety first" mind-frame anymore. New hires may also be afraid to make an injury claim right away, so a simple muscle strain can turn into a major issue requiring expensive surgery.

The major argument against increases in the minimum wage is the prospect of layoffs. Current employees afraid of getting laid off, either out of desperation or the urge for a little revenge, tend to make more workers' comp claims to give themselves more of a cushion while they seek new work. Spikes in claims like these can make insurance underwriters rather unhappy.

Protect yourself! Who else is going to? (Oh yeah, your insurance company!)

The best way to protect your company from these changes is to keep the lines of communication open with your insurance provider.  If they insure your workers' comp claims, they also have a stake in keeping claims as low as possible.  Also, be proactive with new recruits with drug testing, background checks, safety training, and pre-employment physicals.

Need Help Making Workers' Compensation Insurance Decisions?

We can help you keep your workers’ compensation insurance premiums and claims in line – regardless of pending changes to the minimum wage.  Call us today at (800) 947-1270 or (610) 775-3848 or Contact Us by email.

How Much Commercial Insurance Protection Do You Need?

If you’re considering starting or have already established a business, you may be wondering, “Do I really need any special liability insurance for my business?”  Establishing and growing a business is hard work.  It’s an investment of time and money, and it’s important to protect that hard work against unforeseen circumstances.  Even though we may not want to think about it, like Forrest Gump said, “stuff” happens. Even if you work from home and think your home owner’s insurance covers you or if you’ve filed as an LLC to protect your assets, your business may not be as safe from catastrophic loss and possible bankruptcy as you think.

Business Insurance When You're Unable to Work

What if you become sick and can’t work?  What if one of your customers sues you?  What if a fire forces you to shut your business down for a period of time?  Have you thought about how you will protect your finances, your business, and your employees?  The right insurance can help protect these very important assets.  Here are four major categories of business insurance protection you, as a business owner, need to consider. 

Business Liability Insurance (A.k.a. Commercial General Business Liability)

Liability insurance helps protect your company if someone gets hurt on your property or if you or an employee causes property damage or injury.  Liability insurance also protects you as a tenant if you cause damage to a property you rent, and it covers claims of false or misleading advertising, including libel, slander, and copyright infringement.  This insurance helps cover medical and legal defense costs and settlements if you are successfully sued. 

Many small business owners can’t imagine ever being sued, but the fact is that we live in a very litigious society.  Liability insurance is a wise and affordable investment for any business.  It can be purchased individually or included as part of a Business Owner’s Policy (BOP) that combines liability and property insurance into one policy.  It’s a good idea to make sure you have enough liability coverage if you have a BOP. 

Umbrella Liability Insurance

Umbrella liability insurance is designed to protect your business against catastrophic losses that exceed the limits of other policies or for losses not covered by other policies.  Think of it as an upgrade to your existing business, homeowners, and auto insurance that goes above and beyond.

Business Interruption Insurance

Business interruption insurance helps protect against financial loss in the event that your business is prevented from generating revenue. It helps pay for operating costs (such as rent, utilities, and payroll) and lost profits if your business is forced to shut down for an extended period of time, such as during a natural disaster that either forces your business to close or requires repairs to be made to the property before business can resume.  Business interruption insurance can be added to your property insurance policy or purchased as part of a BOP.  

Overhead Insurance

Overhead insurance is designed to protect the operations of your business if you suffer from a major accident or illness and become unable to work.  Overhead insurance helps cover business expenses such as salaries, utilities, interest payments, insurance premiums, and rental payments.

Putting Together a Business Insurance Plan

You’ve worked hard to make your business a success.  Don’t let someone or something take it all away from you.  Take the necessary steps to protect it with the right business insurance.

Free Report: 7 Things You Must Know to Protect Your Businesss 

For more information, click here for our report, 7 Things You Must Know to Protect Your Business. 

Need help in figuring out the right level of insurance to properly protect your business? Call us today at (800) 947-1270 or (610) 775-3848 or Contact Us by email. We're independent agents representing over 25 brands of insurance. We'll find the right coverage at the right price to meet your needs.

Business Insurance that Attracts & Retains Employees

Great employees can be the fuel to move your business ahead of the competition. Dedicated employees add more and more value over time as they gain increased knowledge and experience. While everyone likes a company that offers great benefits, the best employees and job candidates are likely to view the quality of the benefits you offer as a compelling reason to join, remain at, or leave your firm.

With today's cost of purchasing individual insurance, employees are likely to view well-designed employer insurance packages as a deciding factor in selecting one company over another. Furthermore, strong benefits packages help retain your best employees, reducing the high cost of employee turnover.

Designing an Attractive Employee Benefits Package

That's why smart business owners create attractive employee benefits packages that not only include health insurance, but often life insurance, extended disability insurance, dental insurance, and generous retirement plans, among other options. Executive compensation packages may also include deferred compensation plans and higher levels of insurance coverage to retain your best talent. It pays to be well informed on the range of insurance options available to your business.  Your independent insurance agent can be a key resource to help you craft an employee benefits package that attracts better employees at a price you can afford.

Commercial Insurance to Protect Your Business in Ways You May Not Have Considered

General liability insurance, property insurance, vehicle insurance, and workers' compensation insurance form the foundation of your business insurance protection. However, there are other types or subcategories of commercial insurance to consider. Among these are key person insurance, individual insurance, and insurance-backed buy-sell agreements.

Key Person Insurance: Thinking Beyond Job Titles Alone

Key person insurance, also known as key man insurance, is designed to reimburse you for the loss of sales or earnings due to losing an executive, business partner, or other key employee due to disability or death. When considering key person insurance, think beyond titles and identify those employees in your organization who, if unavailable, would dramatically impact your sales or the continuity of your business operations.

These may include high-performing sales reps and customer service personnel, as well as employees with deep technical knowledge of your industry or complex internal processes. Such people may be very difficult to replace with someone of similar knowledge or talent, resulting in reduced productivity or lost sales revenues for your firm for years to come. Your independent insurance agent can help you put together a smart key person insurance package to protect your business financially from the impact of losing a key employee. 

Backing Buy-Sell Agreements with Business Insurance Protection

In the excitement of starting a new business with your business partner, business owners often overlook the need to work out all the details of a buy-sell agreement that comes into effect as a result of the loss of the other business partner due to retirement, death, or disability. While an attorney may be invaluable in putting together such agreements, don't neglect the need to obtain the proper life insurance on each partner to carry the remaining partner through the transition period and to keep the business financially healthy. The insurance coverage should be sufficient to buy out the departing partner's share of the business due to any of the circumstances mentioned above.

Life Insurance for Business Owners: Obtaining the Right Amount of Coverage

Business owners should carefully determine the amount of personal life insurance protection needed. Unlike employees, owners often have significant personal assets tied up in the business, such as a second mortgage that may have been used to finance the business. If the surviving family members' income drops significantly due to the death of the business owner, the results can be disastrous not only for the family, but for employees as well, even if significant personal loans and assets have not been invested in the business.

Low levels of life insurance may threaten not only the entire business, but also the careers of all employees by potentially forcing the surviving family members to liquidate or sell the business to pay the personal debts of the deceased business owner, or simply to provide the income needed to keep up with day-to-day financial obligations.

We Can Help with All Your Business Insurance Needs

We can help you make sense of your many business insurance options, from key person insurance, to life insurance, health insurance, disability insurance, dental insurance, and other forms of personal and commercial insurance to protect your business, and to attract and retain employees. We serve businesses in Reading, PA, Philadelphia, Allentown, Harrisburg, Lancaster, Lebanon, State College, Pittsburgh, Erie and points in between and beyond. 

Contact us

(800) 947-1270 or (610) 775-3848 

Take the challenge - get a quote. We offer the best insurance protection at the best price.

It's obvious that having the right commercial property insurance is key to protecting your business against unforeseen risks. But have you taken practical steps to reduce the potential impact of storms, floods, earthquakes, or other natural disasters beyond obtaining insurance?

By combining the right property insurance with responsible disaster planning you greatly increase your odds of weathering a disaster with minimal loss to your business.

While reducing your business exposure to major disruptions from natural disasters takes careful planning, it is not necessarily expensive. Having solid plans can make the difference between days vs. weeks of serious business disruption and loss of income.

Here are some tips to help your business recover more quickly from a natural disaster:

Perform a Risk/Impact Analysis & Create a To-Do List

Begin by creating a list of natural disasters that could impact your business. Rank them from high to low in terms of likelihood, and then separately by the amount of impact (harm) they could have on your business. Next, identify what can be done to address the more likely ones first. Of the more likely ones, address them in order of the potential harm they could cause your business.

Example:
If your business is in a flood plain or low lying area then your exposure to flood or water damage will be greater than if you are located on high ground. If a flood were to occur, how much damage could be caused? How long would it take to recover? Do you have expensive electronic equipment on the first floor or basement? Could it be moved to the second floor? Could you alter the landscape in such a way as to divert water away from your building so as to avert damage?

Example:
Are you in an area susceptible to damaging high winds, hurricanes, or tornadoes? Could a heavy snowfall of a foot or more cause damage or leaks to your roof that could ruin equipment or force portions of your office or factory to become unusable for a period of time? 

Create a Disaster Emergency Plan

Your emergency plan may not have to be elaborate. Even a simple, well-thought-out plan can be of tremendous benefit when needed. Be sure that your employees know their part in the plan, and have easy access to the documentation (I.e., to the portion of the documentation that applies to them or to their department). Among other details, your plan should include:

• An evacuation plan and designated meeting location.
   
• A list of cell and home phone numbers of managers and key employees.
   
• A description of who is responsible for taking various actions, including identifying the point person(s) responsible for contacting the media, emergency personnel, key customers and suppliers, department heads, and employees.
   
• A data recovery plan (consider backing up all data on the cloud daily so it can be accessed remotely even if your internal computer system is destroyed). Identify and rank the key types of data in terms of importance to your business continuity.
   
• A description of how the business will perform certain key functions off site, including things that could be outsourced. Break it down by department (customer service, accounts payable, accounts receivable, production planning, manufacturing, distribution, I.T., etc.).
  
  

After you have completed the basic plan above, or at least an outline, consider contacting a disaster recovery specialist who can identify weaknesses in your plan, and suggest appropriate remedies.

Perform a Commercial Property Insurance Review

Your independent insurance agent can perform an insurance vulnerability analysis for all types of insurance coverage across your business that may be needed in the event of a natural disaster. This includes basic property insurance, business interruption insurance, spoilage insurance, inventory insurance, and other forms of expanded insurance coverage. Your level of coverage should not only be adequate for your current level of business, but also for the projected level of business to cover you properly until the date of the next scheduled insurance review (annual or otherwise).

Contact Us - We're Commercial Insurance Experts You Can Trust

When it comes to commercial property insurance and other types of business insurance, you can't do better than the independent agents at American Insuring Group. As independent agents, we work for you, not an insurance company. We'll identify the right combination of business insurance policies from many insurance carriers, and put together a plan that fits your needs and budget. See why more business owners in Philadelphia, Reading, Lancaster, York, Harrisburg, Allentown, Pittsburgh, Erie and beyond rely on us for all their commercial insurance needs.

Contact us today: (800) 977-1270 or (610) 775-3848