Having insurance is critical for a small business, and some policies can provide for the financial losses incurred following the loss of theft or fire. But…there are things that insurance companies cannot replace. Here are just a few considerations for small business.
Trust– this is one of those traits that each small business needs to earn with every one of its clients. You have built trust with your customers. They trust you to provide quality goods and services and they trust that you will be able to provide those goods and services when they need them. The effects of a break-in or a disaster such as a house fire can set you back significantly in the trust department. You may lose specialized tools, or stock on hand, or a variety of other items that will take time to replace. Even if you can get the money from the insurance quickly (and some companies will take a while to issue funds), you still have to replace items. Your delay in business operations could be days or months. Customers may lose trust, and some may even seek an alternative business to meet their needs.
Documents– replacing documents may not be too difficult if you have prepared properly, but RETRIEVING them in the event of a break-in might be impossible. Do you store customer information? Even if you keep it on your computer, there is the chance that if the information is stolen, it could be accessed and used for additional criminal purposes.
Feeling insecure– even if everything is replaced and you do not lose any customers, insurance money does not make your business location any safer. You and/or your employees may not feel very safe at work knowing that someone has broken into the location. While a security system or CCTV system may not prevent that from happening, you have a much better chance of minimizing the impact or possibly preventing an intruder by having a system.
There’s a reason that companies such as hardware stores now sell security signs (we have some fun ones available if you are interested) but do not require an actual system- there is a level of deterrence. Unfortunately, many criminals are catching on (and they probably do some shopping every now and again) and signs alone are not doing the job. It is important to have your system monitored and ensure that it is working properly.
Please feel free to view our other blogs for more information on security solutions and disaster preparedness. For a free quote in the Arlington, Dallas, Fort Worth and surrounding areas, please call 817-404-4664. *We offer regular rate evening hours on select days to meet your unique needs.*