Disclaimer: The earthquake preparedness information in this post is purely descriptive. It is not meant to serve as a replacement for general safety advice from your local first responders. This information is not meant to act as legal counsel, such as for complying with workplace safety compliance standards. Please consult the proper authorities and utilize the contents of this article at your own risk.
Earthquakes can be devastating and sudden. We store goods and make preparations in case a disaster arises. The same approach should be used to the earthquake preparedness of businesses. With the correct strategy, you can mitigate the significant financial harm caused by an earthquake. It is vital how a corporation prepares because different and sometimes unanticipated regulations may be required.
In contrast to storms and fires, earthquakes can strike suddenly and offer little time to prepare. People and goods at a workplace are swiftly affected by earthquakes. Having a plan for earthquake preparedness remains crucial. Taking measures such as enhancing a building's safety, ensuring that staff are aware of best practices for safeguarding themselves during an earthquake, and obtaining an insurance coverage that mitigates financial loss.
We will examine how insurance brokers can maximize the possibility that clients obtain the necessary coverage. Ensuring people understand how to file claims and where to locate information on earthquake preparedness. Thus, you may assist both new and old clients in preparing for these challenging circumstances. Then, you can develop stronger ties with clients to boost client retention.
INFORM BUSINESS OWNERS OF COVERAGE OPTIONS
Small business owners may not first comprehend what is covered if earthquakes damage their commercial premises. Agents of insurance should guide business owners in the following areas:
Policy Components
Commercial property insurance may be insufficient. Small-business owners may believe they are covered, but earthquakes frequently demand additional policies. Even if a customer is aware that they require a separate earthquake policy, they may still need assistance comprehending the various coverage alternatives in order to determine their potential liability.
The scope of a policy's earthquake coverage should be fully communicated by insurance representatives. Ensure that clients comprehend whether a policy covers physical damage caused by an earthquake, but not lost income due to a closed business. If there are various coverage alternatives, assist clients in navigating the distinctions between them. Thus, customers can select the option that best suits their risk tolerance.
Also see: HOW TO SELL BUSINESSES INSURANCE
Coverage Requirements
It is also essential to educate business owners on the requirements for policy eligibility. You do not want your customer to apply for earthquake coverage only to discover that their building is uninsurable.
Before you can qualify for earthquake insurance, your commercial property may need to be inspected and upgraded, advises the Insurance Information Institute. This may involve alterations such as bolting the building's structure to its foundation. Additionally, you may be forced to reinforce chimneys and walls and perform other changes."
ENSURE CLIENTS ARE AWARE OF HOW TO FILE EARTHQUAKE CLAIMS
Understanding how to file claims in the event of an earthquake is a significant aspect of earthquake preparedness.
In the immediate aftermath, clients will experience sufficient stress as a result of ruined possessions and emotional repercussions. No one wants to endure a complicated procedure in order to get the necessary funds to rebuild. To be fully prepared, the time to learn how to file an earthquake claim is before to the occurrence of an earthquake.
There should be a defined onboarding procedure for insurance agents. It should guide clients through selecting the appropriate coverage and filing a claim. Documenting property, knowing which forms to send, and determining whether the process can be completed online are essential preparatory tasks. Taking a little additional time in advance is preferable to dealing with this intricacy for the first time during an earthquake.
PROVIDE EARTHQUAKE PREPAREDNESS RESOURCES
You may assist your clients in being better prepared by ensuring they are as well-informed as possible. Among the ways in which insurance brokers can assist:
Through channels such as your website, email, and social media, you can distribute links to pertinent information, such as those from the national public service campaign Ready.
State or local agencies may also provide their own information that you can distribute, such as advice on what to do before to, during, and after an earthquake. By providing clients with this knowledge, you can enhance the possibility that they will create an earthquake preparation plan.
You may also be able to direct your clients to state or local government apps that provide a few seconds of warning. These few seconds may not seem like much, but they could allow office employees to move to a safer position.
Consider providing advise or pertinent resources provided by other clients or insurance brokers.
For instance, if you have a big network that includes insurance agents in many earthquake-prone regions of a state such as California, they may already have resources that they may recommend to you. Then, you may share this knowledge with clients who may still be at risk for an earthquake, but who may work in a region where earthquakes are less common and so preparation actions are not as widely recognized.
You may have consumers who have personally experienced earthquakes or who have adequately prepared for them. In this scenario, you may be able to share the lessons these other businesses have learnt to assist new business owners in preparing for earthquakes.
CONTACT EXISTING CUSTOMERS
Existing clients should also be contacted regarding this matter. This can significantly contribute to establishing and keeping great client relationships.
For instance, when your present clients are contemplating the renewal of their commercial property insurance policies, you may wish to explain what is covered in the event of an earthquake. This may be the appropriate time to suggest further coverage. These business owners may not have known about earthquake coverage when they initially purchased an insurance from you. Or circumstances have changed, such as if they plan to operate a new location in an earthquake-prone region.
In any circumstance, assisting your current clients in comprehending their selections might make them feel more prepared. Even if they decide not to acquire more coverage at that time, discussing this topic can help you gain a greater knowledge of your present clients and their future plans.
Taking the time to explain earthquake preparedness with both new and existing clients can increase coverage sales and strengthen relationships with these business owners.
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