National PrepareAthon Day: GEICO gives tips to small businesses

WASHINGTON, D.C., Sept. 30, 2015 – Approximately 25 percent of businesses never reopen after a major natural disaster, and following a tornado, wildfire or hurricane, your business doesn't have to become part of this statistic. Today marks FEMA's National PrepareAthon Day, and GEICO is reminding business owners to review all their company coverages as disaster can strike at any time.

These key business insurance coverages can help you plan for the unforeseen according to the Insurance Information Institute.

Commercial Auto: Personal auto insurance policies generally do not cover any commercial exposure. The business risk makes it different than when driving your personal vehicle, making it critical that your commercial vehicles are properly covered with appropriate liability limits, as well as coverage for fire, theft, natural disaster and collisions.

Business Interruption Insurance: This form of coverage, commonly referred to as business income coverage, can replace lost revenue and take care of payroll and expenses during your shutdown period. Every day your doors are closed creates a missed opportunity to make money.

General and Professional Liability Insurance and Business Owners Policies: Individuals find all sorts of reasons to file lawsuits, regardless of whether your company was right or wrong. General liability insurance will protect you if your business gets sued.

Additionally, you can add more liability coverage based on your specific type of business. For example, product liability coverage can protect you against someone who is injured or sickened by a defective product and professional liability coverage helps guard against mistakes made while performing a service, such as a plumber accidentally breaking a pipe and causing a flood. Finally, employment practices liability covers allegations of harassment, wrongful termination and discrimination in the workplace.

Workers Compensation: Accidents can happen on the job, and the financial burden of paying for an employee's related medical expenses and lost wages could have a major impact on your business. With worker's compensation coverage, these financial obligations can be avoided.

For a free business insurance rate quote, visit GEICO's commercial insurance center, or call (877) 844-4892 to speak with an agent to discuss tailoring your business coverages to provide the optimal amount of protection.

GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the second-largest private passenger auto insurance company in the United States. GEICO, which was founded in 1936, provides millions of auto insurance quotes to U.S. drivers annually. The company is pleased to serve more than 14 million private passenger customers and insures more than 23 million vehicles (auto & cycle).

Using GEICO's online service center, policyholders can purchase policies, make policy changes, report claims and print insurance ID cards. Policyholders can also connect to GEICO through the GEICO App, reach a representative over the phone or visit a GEICO local agent.

GEICO also provides insurance quotes on motorcycles, all-terrain vehicles (ATVs), boats, travel trailers and motorhomes (RVs). Coverage for life, homes and apartments is written by non-affiliated insurance companies and is secured through the GEICO Insurance Agency. Commercial auto insurance and personal umbrella protection are also available.

For more information, go to www.geico.com.