June marks the official start of hurricane season, and the Federal Emergency Management Agency is encouraging businesses to be ready for what has been predicted to be a very busy few months.
In 2004, FEMA’s National Flood Insurance Program paid more than $1.4 billion to help policyholders recover from flooding, which the agency says was twice as much as 2003. In Mississippi, 75 individual and business claims were filed last year and nearly $625,000 paid.
“If a business has to close its doors for only a few days, the results can be devastating,” says FEMA head Michael Brown.
Many business remain uninsured against flood damage, he added, warning that there is a 30-day waiting period before new flood insurance policies go into effect. A few tips from FEMA:
• Know the risks to your business and property.
• Inventory and photograph the equipment and supplies in your office.
• Talk to your insurance agent.
Sound advice for many Mississippi business owners, and more suggestions are online at www.floodsmart.gov.