If you are a small-business owner working from home, you should look into getting a business owner policy that covers your equipment. If you are a small-business owner, you should examine your insurance options when it comes to protecting yourself from weather events. (Photo: iStock)

It's estimated that Hurricane Michael caused more than $4.5 million in damages when it hit Florida, Georgia and surrounding states in October 2018, including between $500 million to $1 billion in commercial losses alone.

The financial toll was even more severe when Hurricane Irma struck Florida in 2017— leaving behind roughly $50 billion worth of property damage and lost economic output. Navigating clean-up operations and frequent power failures proved to be challenging for business owners, especially since Irma left over 60% of the state of Florida without power. Plus, the uninsured costs of natural catastrophes, including weather-related natural disasters, totaled $344 billion in 2017 — a new record.

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