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Insurance for Business Owners: Adequate Means of Egress

Doesn’t that title sound sexy?  Adequate means of egress may sound like something that would put you to sleep. However, it is really something that should keep you awake at night if it is not properly addressed.

The bottom line is that business owners care for their customers and employees. Therefore having an adequate means of egress within a commercial building is important. Egress meaning entrances and exits that are properly designated and illuminated to help people get in and out of your building.  This is important because of safety issues that might arise in the event of an emergency.   Checking off the box about adequate means of egress can help a business owner’s insurance coverage and lower costs by preventing disasters and keeping liability risks lower. So, let’s explore that a little further.

Illuminated Exit SignsEgress

Well-lit exit signs are important in a commercial building, because they alert staff and patrons to the entrances and exits. These types of illuminated signage need to be placed at high levels so that all can see. They help keep people calm during fires, severe storms, and other atypical events by providing exit options during an unforeseen, immediate evacuation.

Underwriters take notice of commercial structures that have adequate egress signs. Paper signage or no signage at all can be a red mark on an insurance inspection report when it comes to renewals or purchasing a new policy. 

Emergency Lighting

The installation of an emergency lighting system can be beneficial in limiting a business owner’s liability risk and also counteracting a slip, trip, or fall incident. A properly maintained emergency lighting system will automatically illuminate interior areas in a structure should a power outage occur. It is essentially a back-up light that helps people see through the darkness and navigate to an exit.

An emergency lighting system should be tested regularly by a licensed contractor. A copy of the annual testing results should be submitted to the policyholder’s insurance agent. The hard copy should be kept by the insured company for their own records. Proper maintenance will ensure that an emergency lighting system works when necessary. It will also prove to the underwriters that a building owner is dedicated to safety.

Signage and lighting that properly identify all means of egress will serve as a huge benefit to an owner’s building insurance and liability coverage. This can help to reduce the cost of the premiums for coverage of the building.

For more cost saving tips on insuring your property contact us at Ramey King Insurance We can help you with any and all questions related to a Business Owners Policy and additional lines of liability coverage.

Want to Read More?

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