If you are a business owner with a building to protect, money management tips to follow should include information on how to protect your building from storm damage. Natural disasters are on the rise, and many business owners are under the impression that insurance will cover all their losses. Unfortunately, many business owners find out too late that insurance does not cover all their losses. Money management tips often fall short when it comes to talking about preventing storm damage and the savings that can be realized.
With Every Season Comes a Threat
Strom damage threats are a very real threat throughout the year. According to FEMA, tornado season is from March through August. Tornados most often occur between 3 PM and 9 PM. However, tornados are finicky and hard to predict, and they can strike at any time.
When a tornado touches down, the damage can be devastating. Unfortunately, there is not a lot of time between the warning and touchdown. Being prepared ahead of time with a plan can prevent damage and certainly reduce risks to life. Hurricanes are another seasonal threat. In 2019 there were 18 named storms, of which six became full-on hurricanes. Hurricane season is from April through November. In the wintertime, snow and ice are the biggest threats to your property.
From heavy rains that bring the threat of flooding in the spring and summer to winter storms that dump heavy snow, there is always a threat that is lurking. Money management tips should encourage you to prepare for the worst.
Important Money Management Tips
Before we get to what you can physically do to protect your building from storms, we have to address these important money management tips:
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- Do not skimp on insurance. Get the most coverage you can. It will pay off if there is a natural disaster.
- Have an emergency fund specifically earmarked for emergency repairs that insurance will not cover.
- Budget for maintenance, repairs, and preparation necessities.
Part of surviving storm damage is having the financial resources to tide you over. One of the most important money management tips is to be financially prepared for the worst-case scenario. Check your insurance policy NOW before there is a storm threat to ensure that you fully understand what events are covered and what are not. You do not want any surprises in case of storm damage to your building.
What Do You Need to Do Regularly?
About 40% of building-related storm damage comes from water. Ensuring that your building can withstand the storm means that every part of your roof system is highly functional. Clean the gutters regularly and have an annual roof inspection. Clogged gutters will cause water to pool and can misdirect the water right toward the foundation of your building. Keep gutters free of debris year-round.
Keep Up With Necessary Maintenance
One of the most important money management tips on how to save on property costs are to make sure you maintain your property. Good maintenance applies to preventing storm damage as well. Repair cracks in the foundation, small roof damage, and other damage quickly. A small problem area can be the weak spot that elevates storm damage to an entirely new level of damage. Addressing building problems as they occur will help to protect your building from potentially severe storm damage.
Stay Prepared
Hope for the best but always plan for the worst. Have a kit for emergency repairs. The kit should include tarps and tie-downs just in case there is roof damage or other damage from a storm. If you live in a hurricane zone, have sheets of plywood in storage so that windows can be easily boarded up in case of a hurricane threat.
Being prepared for the worst-case scenario means not having to rush around at the last minute and compete with other building owners for supplies and materials. Taking action to minimize damage will be easier if you have the supplies and materials tucked away and ready to go.