Property Insurance

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While summers bring warmth and sunshine, they do present a trying time for your field and warehouse employees. Here are a few steps to take to ensure safety and optimal productivity for your employees during summers.

Insure your air conditioning machinery

Most of India experiences extremely high temperatures in summers. It becomes almost impossible to work during the peak heat. Your workplace ventilation or fans may not be sufficiently effective during the hottest days. Today many firms have installed air-conditioning in their offices. However, on the hottest days, even the air conditioners tend to get overloaded and can suffer damage. It is important to take adequate insurance covering both the repairs and possible replacement of air conditioning machinery during breakdowns. This will ensure that there are no ad-hoc, out-of-pocket expenses that will stress your firm’s margins.

Additional Read: Factory and warehouse insurance: The saviour during turbulent times

Insure goods in the warehouses and in transit – they face a high risk of catching fire during summers!

There have been many instances where extreme heat has led to fire accidents. An example is Delhi’s Bhalswa landfill which caught fire these last summers due to scorching heat. It took more than four days to douse the fire. Ongoing cooling operations were thereafter undertaken to ensure safety for surrounding habitation.

Another instance of a summer fire in North Delhi was the Karol Bagh footwear market fire. Many dealers lost their merchandise and their shops during the fire. An investigation was done following speculation that the cause was a short circuit due to electrical overloading. However, the cause has not been confirmed. This emphasizes the need to protect your merchandise and building, workplace and stores against fire, especially in summer.

Watch out for business losses due to summer power outages

Power outages happen routinely during our summers. Businesses struggle to maintain productivity during such outages.It is not always possible to obtain power by running diesel generators.

The Industrial Model Township (IMT) at Manesar near Gurgaon fell completely silent during the last summer due to prolonged power cuts. In fact, several firms there ended up terminating many employees. There was no compensation available for such employees.

This instance showcases the importance of taking protection against such situations. They are often beyond the control of business owners. Check if your insurer provides business continuity loss coverage, or contact a good broker such as Securenow who will help you with product availability and coverage terms.

Additional Read: What are the 12 perils of standard fire insurance policy?

Cover your distributors and staff and contract labour

Consumer product and other businesses are dependent on their supply chains and distribution networks running smoothly. Any disruption could cost the business severely. You need to hedge the risks of disruption of your distributors or supply chains.

Contracted labourers can get affected during summer due to the extreme conditions. Construction and manufacturing businesses depend on contract labour. During extreme weather conditions, labourers may unable to continue with their work due to heat. They may face health hazards such as dehydration, heat stroke, fever, etc.

Sufficient medical insurance is essential in such conditions. It helps the labour recover quickly from an illness.

Additional Read: Does workers’ compensation cover prescriptions?

In a nutshell…

Some of the situations that you should cover yourself for your safety and business continuity during the hottest summer periods have been highlighted. Else, you may face losses at such times. . Before you avail of insurance, you must compare insurance products and evaluate the ones that meet your requirements. You can conduct a comprehensive comparison across products at  SecureNow before you choose the right insurance products.