Nearest broker: Searching for a broker nearby…
Nearest broker: 2607 Ellwood Dr SW, Edmonton, AB, T6X 0P7 Phone: 780-732-8616 10060 Jasper Ave, Edmonton, AB, T5J 3R8 Phone: 780-435-3632 , Calgary, AB Phone: 403-532-4882 322 Avenue C S, Saskatoon, SK, S7M 1N4 Phone: 639-398-4170 10325 Bonaventure Dr SE, Calgary, AB, T2J 7E4 Phone: 403-695-1050 5317 50 Ave, Taber, AB, T1G 1V3 Phone: 403-223-2377 110a McLeod Ave, Spruce Grove, AB, T7X 2H8 Phone: 780-571-1144 496 Marquis Rd, Prince Albert, SK, S6V 8B3 Phone: 306-970-8080 335 Hwy Avenue N, Picture Butte, AB, T0K 1V0 Phone: 403-732-6023 103-5020 Lac St Anne Trail S, Onoway, AB, T0E 1V0 Phone: 780-967-2282 2201 Box Springs Blvd NW, Medicine Hat, AB, T1C 0C8 Phone: 403-487-5132 550 Wt Hill Blvd S, Lethbridge, AB, T1J 4Z8 Phone: 403-394-1123 734 13 St N, Lethbridge, AB, T1H 2T1 Phone: 403-328-9114 5 St SE, High River, AB Phone: 403-652-4104 9901 103 St, Fort Saskatchewan, AB, T8L 2C8 Phone: 780-998-0881 , Edson, AB, T7E 1T6 Phone: 780-440-0075 16612 109 Ave NW, Edmonton, AB, T5P 1C2 Phone: 780-486-4488 201-4271 23 Ave NW, Edmonton, AB, T6L 5Z8 Phone: 780-466-2136 3908 97 St NW, Edmonton, AB, T6E 6N2 Phone: 780-465-6900 8170 50 St NW, Edmonton, AB, T6B 1E6 Phone: 780-469-9378 52 Ave, Drayton Valley, AB Phone: 780-621-1707 264 Midpark Way SE, Calgary, AB, T2X 1J6 Phone: 403-251-2926 1331 Macleod Trail SE, Calgary, AB, T2G 0K3 Phone: 403-278-1050 1331 Macleod Trail SE, Calgary, AB, T2G 1E1 Phone: 403-255-2252 234-7 Westwinds Crescent NE, Calgary, AB, T3J 5H2 Phone: 403-775-2100 , Calgary, AB, T3K 0S8 Phone: 403-719-9995 4632 70 St NW, Calgary, AB, T3B 2K6 Phone: 403-247-6435 5114 2 St, Boyle, AB, T0A 0M0 Phone: 780-689-3946 50 Ave, Bonnyville, AB Phone: 780-826-3147 12931 20 Ave, , AB, T0K 0E0 Phone: 403-562-2191 2903 Kingsview Blvd SE, Airdrie, AB, T4A 0C4 Phone: 403-945-8885

4 Steps for Preparing Your Small Business for Spring Floods in Alberta

Business Insurance

By Samantha Lemna | April 22, 2019

Thanks to snowmelt and precipitation spring and early summer have a high risk for flooding. Beyond the physical threat to your business premises and stock it can also interrupt your business operations. Even if your business is safe from floodwaters you may need to close due to an evacuation order staffing issues or transportation delays. Effective preparation can help protect your business and minimize damage and disruptions to your operations. Here are the key steps:

  • Identify the Risks
  • Build a Response Plan
  • Prepare and Protect Your Business
  • Take Action in an Emergency
  • Identifying the Risks

    Flooding can affect your business even if you’re nowhere near a water source. Flooding is generally caused by rapid or a large amount of snowmelt or high levels of precipitation. The situation is exacerbated when both occur at the same time. Additional damage can occur when there are drainage obstructions caused by manmade construction landslides a buildup of debris or ice or beaver dams.

    It isn’t just overflow of lakes rivers and other bodies of water that you need to worry about. Low-lying or poorly draining areas are also at risk for flooding during periods of high precipitation. Sewer back up damage can also affect your business if there is nearby flooding. Where the water comes from does matter –especially when it comes to insurance.

    So how do you identify what level of risk your business faces?

    First you’ll want to find out what theflood hazard of your locationis. Your municipal website may have more detailed information about risks such asCalgary’s flood maps. Remember that the chance of flooding depends on the severity of the flood – you may be perfectly safe in a minor flood event but a major one could leave you with a lot of damage.

    Second you’ll want to evaluate the drainage of the area around your business. Here are things to watch out for:

    • Improper grading (sloping ground towards the building)
    • Eavestroughs are inadequate blocked or dirty or drain towards the building
    • Standing water more than 24 hours after rainfall
    • Accumulated debris such as leaves
    • Previous water or moisture damage in or around the building

    It’s important to address these issues sooner rather than later. Of course that depends on if you own the building and property where your business resides. If you don’t communicate your issues to the building management and your landlord. It may help to get other businesses involved.

    Build a Response Plan

    There are two steps to building a response plan:

  • A plan to address the risks identified.
  • An emergency plan in the event of a flood.
  • If you identify any risks to your business look into available methods of fixing or mitigating those issues. For example sewer backup is something many businesses will be at risk for. Here are some options you can look into toreduce the risk of sewer backupto your business:

    • Sewer backup insurance
    • Drain and toilet plugs
    • Backflow valves
    • Sump pumps

    Remember this is just the planning stage where you’re looking into your options on how you can address your risks.

    An emergency response plan is what you will do in the event of a flood. Include where you will operate in the event you cannot reach your usual premises an evacuation plan and a shelter-in-place plan. You’ll also want to put together an emergency contact list and decide how you will protect critical elements of your business such as data and stock. You can include things like immediate flood preparation like sandbagging as well. Here’s agreat template to get you started.

    Prepare and Protect Your Business

    Now it’s time to implement your plan to address the risks you identified above. You’ll also want to circulate your emergency response plan and ensure all employees are aware of what it is and how to execute it. Get everything in place before you need it.

    This is also where you shouldlook at your insurance. Many business owners are unaware that flood protection may not be included in their base coverage: it’s often sold as an endorsement (add-on). Here are the three main types of coverage you should consider:

    • Sewer Backup
    • Overland Water
    • Business Interruption

    Sewer backup coverageoffers protection when sewers or drains back up causing “grey water��? to enter your place of business from sinks showers toilets and drains. This generally causes damage to floors plumbing and anything else it touches.

    Overland water coverageprotects against traditional flood events such as the overflow of rivers and other bodies of water and water accumulation due to snowmelt and heavy rainfall. As long as the water enters from above ground it is considered “overland.��? This is often sold as a package with sewer backup coverage.

    Business interruption insurance will provide you compensation for lost income or losses due to an evacuation order or your business is damaged due to an insured flood event. This isgreat coverage for small business ownersthat extends far beyond flooding.

    Talk to your insurance brokerabout your coverage options. Remember that insurance is ever-evolving. It’s important to review your insurance yearly to see if your coverage has changed your insurance needs have grown or if there is an insurance product better suited to you and your company.

    Get A Quote From A-WIN

    Get the best insurance deals and stay on budget.

    Get A Quote

    Life Events - It's Time to Reassess Your Insurance

    Whether it’s heading off to university or deciding to start your own business,...

    Download