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Rain or Shine: How Proper Prep Spells the Difference Between Coverage and Conundrum

by FCIS Team | This article was posted on 11 13, 2023 |

Rainy day in California

California Rainy Season Hacks: Shield Your Property & Slash Insurance Costs

It’s not always sunny in California, it rains sometimes, and when it does we’ve got some nifty tips to assist property owners in gearing up and guarding their beloved investments. Commercial insurance providers often require policyholders to maintain their properties in good condition to minimize risks and prevent claims. While the specific requirements can vary, failure to properly upkeep a property can lead to policy non-renewal or even cancellation by the insurer. These tips will not only shield your property but also play a role in lowering insurance expenses and steering clear of potential headaches (yep, we thought cost savings might pique your interest). So, here's the scoop:

Regular Maintenance is Key

Regular maintenance of your property is crucial. Ensure that your building's structure, including the roof, gutters, and drainage systems, is in good condition. Fix up any issues pronto to avoid expensive surprises.

Roof Inspection and Repairs

Have your property's roof inspected regularly. Fix any leaks, damaged shingles, or weak spots immediately. A properly maintained roof can ward off water damage and reduce insurance claims. Underwriters are also cracking down on older roofs. If your roof is older than 30 years, look to have the roof replaced.

Gutter and Drain Cleaning

Well-functioning drainage systems reduce the risk of flooding and water damage. Monitor and clean gutters and downspouts to prevent clogs and ensure proper water drainage.

Landscaping and Grading

Ensure proper landscaping and grading to direct water away from your property. This strategy prevents water accumulation near the foundation, reducing potential expensive damages and insurance claims.

Flood Insurance

Check if your commercial property insurance covers flood damage. With many standard policies excluding this, it's wise to think about acquiring a distinct flood insurance policy. The options are either from the National Flood Insurance Program (NFIP) or a reputable private insurer.

Risk Assessment

Do a little risk assessment. Identify spots that are prone to water damage and reinforce them. Less risk, fewer insurance claims.

Insurance Policy Review

Review your insurance policy and chat with your provider about any changes. Make sure your insurance suits your property and its unique quirks. Keep in mind recent fires would affect water flow, which may put your property in the path of an unexpected water feature.

Business Interruption Coverage

Think about incorporating business interruption coverage into your policy. This can help compensate for lost income and additional expenses incurred when your business is temporarily shut down due to rain-related damage.

Emergency Response Plan

Develop a comprehensive emergency response plan in case of severe weather events. This plan should include steps to protect employees, evacuate if necessary, and safeguard critical business assets.

Document and Report Damage

In the event of damage, document it thoroughly with photographs and written descriptions. Report the damage to your insurance provider promptly, as delaying the claim process can lead to additional costs.

Liability Prevention

Take steps to prevent potential liability claims. Keep walkways and parking areas secure to minimize the chances of slips and falls in damp conditions.

Consult an Insurance Professional

Engage with an experienced insurance agent or broker versed in California's commercial property insurance. They can help you tailor your coverage to your property's unique needs and ensure you're adequately protected.

Building Code Compliance

Stay informed about building codes and regulations related to weather resistance and flood prevention. Upgrading your property to meet these codes can reduce insurance costs and enhance protection.

By proactively addressing these considerations and taking measures to safeguard your commercial property, you can reduce insurance costs and minimize the financial impact of rainy season-related damage. Additionally, consulting with insurance professionals and staying up to date on local regulations will help ensure that your property is adequately covered and compliant with relevant standards.

At FCIS, we pride ourselves on providing genuine, expert support. Our experienced team is at your service to carefully evaluate your specific needs and recommend customized solutions to craft the ideal coverage plan for your business. Reach out and give us the opportunity to demonstrate our expertise – we excel at what we do.