As a business owner, you may be faced with shutting down your business for the winter. You may be planning to do it, or you may be forced to close down temporarily. Closing your business during the winter months or the holiday festivities can provide a temporary break from the stress of the daily work. However, a business requires maintenance and care even while closed. Here are some things you should do to keep it in good shape.
Before You Leave
Before you leave for set the heating to a low enough temperature to save on heat, but high enough to keep pipes from freezing: 45 degrees is an often used number. If you cannot leave the heating system on, turn off water at the mains and drain all water from the pipes and tanks. If it applies, move as much stock or raw materials to a secure holding section of your facility. Back up any computer records and store them off site. This especially true of any documents which should be secure, or anything you will need to continue to operate your business or support a business interruption claim. Be sure that any unique paper documents copied and protected or stored off site altogether.
Regular Inspection
Make sure someone regularly inspects the building, the facilities, and the security features of the property. This will help protect against mechanical breakdowns, theft, or vandalism. A handyman or maintenance man would be good option. They should keep an eye on pipes and heating systems specifically. They should know where the stopcock (an externally operated valve which can shut off water flow through a pipe) is located and generally watch for something out of place or suspicious. The sooner you detect an issue the more it will help to minimize damage.
Other Tips for Shutting Down Your Business For The Winter
After a big snow storm, make sure a team is ready to clean off the roof, if that is your responsibility. Under enough snow and ice roofs can collapse. Also, ice dams can form which can cause significant damage to your property, equipment, and belongings. Be sure to have an emergency contact list of plumbers, electricians, or anyone else you may need to contact should something happen.
Business Interruption Insurance
It is important to have a Business Owners Policy (BOP) for small and mid-sized businesses because of events like this. If this is an unforeseen shut down, your insurance will help you cover your losses during that time. Specifically, Business Interruption Insurance covers the loss of income from an interruption that halts usual business operations.
To learn more about the Business Owners Policy and business interruption insurance, contact the TJ Woods Insurance Agency. Our team will help answer any questions as you shut down for the winter. In addition to coverage for business owners, we offer full business insurance for all your commercial enterprises, as well as personal auto and home insurance. Contact TJ Woods Insurance today to learn more about how we can help protect you.
