Earthquake Preparedness, Are You Prepared?
August 31st, 2007 by AptBldgTrader
August 31, 2007 by Dan Pudwill
Have you seen it, it is all over the news stations, ABC/ NBC. They are trying to prepare people for the big disaster due to Earthquake.
They are telling people what they will need incase of a disaster caused by EQ. Such examples would be batteries for a flash light and radio, a charged cell phone, a good pair of shoes and enough water for three days. These things would satisfy your personal needs, but what if you are a business owner?
What if your office were destroyed or severely damaged in an EQ? How long would it take to get back up & running again? Where would you quickly find the phones, computers or office chairs and desks that you might need? Will you need to have generators for the lights or use them to power the computers? What about a mobile office setup? How about all the little things, snacks, coffee and refrigerator so you can keep going steadily through the day?
The sight would be an eye opening experience for an owner because most have not sat down and thought about what they need to get back to business as usual. There is so much to think about during/ after a disaster.
I would recommend informing business owners about the importance of having EQ coverage and make sure they have an endorsement called Business Income/ Extra Expense & EQ Sprinkler Coverage. In the event of an earthquake your building coverage or liability coverage will not pay for that type of loss. Earthquake insurance was designed to cover that loss specifically. EQ Insurance will rebuild or repair the structure and Business Income/ Extra Expense will get your business up and running in approximately 48 hrs. During the quake if the building had sprinklers and they went off and soaked your office or inventory, you would be covered by EQ Sprinkler Coverage endorsement. The business income part will replace the $ that the business had been making before. Earthquake insurance will also pay for loss of rents for habitational owners if their renters can no longer live in the units.
I would also inform the business owner that EQ is very hard to get, especially in Riverside & Los Angeles Counties. There are some companies still offering coverage up to 5 million. We happen to be one of them. Wheatman Insurance has Commercial “All Risk” Monoline Property Policies covering Earthquake and in some cases flood. The policies would be written through companies that have a rating of A++ by AM Best Company.
Our EQ program specifically targets Commercial Property Owners who are finding it hard to secure coverage.
Dan Pudwill/ Agent
Wheatman Insurance Services
A team of professionals. A singular focus. You.
6345 Balboa Boulevard
Building IV, Suite 285
Encino, CA 91316
(818) 921-1450
(818) 975-7559
dan@wheatman.com
www.wheatman.com
CA Lic# 0C36866