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Avoid discontent this winter The right insurance can help business owners cope with the problems caused by winter weather, says Mark Nicholl.
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ith ever increasing regularity, we hear about severe weather conditions disrupting lives and businesses. A simple burst pipe, a roof collapse, falling tree, or someone slipping on ice outside your premises, could all pose a threat to your business and saddle you with untold costs. Research carried out by the Association of British Insurers (ABI), showed that the cold weather
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experienced in the UK in the winter of 2018 had huge financial implications. Insurance payments to homeowners and businesses for storm, flood and burst pipe damage increased by 290% in the first quarter of 2019, from £93 million to £361 million. In this same period, some 86,000 claims were handled, a huge increase in comparison to the 29,000 claims handled in the previous quarter. This suggests that the UK is still not adequately prepared for risks associated with winter weather.
WHAT CAN YOU DO? Preparation and planning is the solution. Most prevention measures are pretty easy and straightforward, it’s about keeping on top of them, to minimise your exposure. However part of your planning needs to include checking that you have comprehensive range of property and liability insurance in place as well. THE SIMPLE THINGS YOU CAN DO. Unfortunately, in our business we know only too well the impact events like these can have. Burst pipes due to water freezing can result in thousands of pounds in water damage. Water from burst pipes can damage walls, floors and electrics as well as your property.