As a business, you know that keeping your property clean and hazard-free is important. But did you know that how you manage waste and debris in your business yardspace can also impact your insurance cover?
Insurance companies and underwriters pay close attention to yardspace maintenance when assessing risk. After all, an unkempt yard filled with rubbish and clutter can increase the chances of slips, trips, falls, fires, infestations and other liability exposures.
Here's what you need to know about managing waste on your business property from an insurance standpoint:
Keep It Organised
Having a cluttered, disorganised yard is a red flag for insurers. Make sure dumpsters and waste receptacles are placed neatly in designated areas, away from entrances, exits, and high-traffic areas. Segregate and label different waste streams like recycling, compost, hazardous materials, etc. This business demonstrates that you are actively monitoring and managing waste on your property.
Remove Debris Frequently
Don't allow garbage, litter, or junk to accumulate around your business yard. Insurers may see this as a sign of negligence. Make sure you have a regular debris removal schedule, ideally weekly, whether you handle it yourself or hire a waste removal service. Promptly clean up any windblown litter and waste as well. You don't want random rubbish hanging around your property.
Secure Waste Bins
Unsecured waste receptacles are an open invitation for illegal dumping, vandalism and worse, starting a fire. Make sure bins have lockable lids and are inaccessible when closed. Place them away from blind spots and alcoves where illegal dumping is more likely to occur unnoticed. Restrict access to waste areas to authorised staff only.
Practice Proactive Maintenance
In addition to removing existing waste, insurers also want to see that you are actively maintaining your yardspace to prevent future waste issues. This means regular landscaping, prompt repairs of broken equipment/fixtures, sealing bins, checking for leaks/spills, etc. When yard maintenance is lackluster, insurers worry about liability risks going unnoticed.
By keeping a clean, organised, and well-maintained yardspace, you demonstrate to insurance companies that you are committed to risk management. This can positively impact your insurance premiums and cover. Don't let waste issues pile up - keep control over your business yardspace and let it represent your dedication to safety.