The Perth fire is perhaps the most trending fire incident recently. Although it was not caused by electrical problem, remember that your home and business are also prone to experiencing fire problems with all the appliances you use. Through appliance testing, you’ll be free from these accidents while saving you a great deal of money.
How much does an entrepreneur save by being meticulous and complying to test and tag standards? Business owners will save themselves money caused by the following factors.
Fines worth $1000 to $100,000. Test and tag standards are mandated by Occupational Health and Safety authorities. Therefore, non-compliance will charge you with fees. You’ll be lucky if the situation only calls for $1000 worth of fines. Nevertheless, there’s a chance that the damages call for $100,000 penalty, which will certainly make your head spin. And this is just the first set of expenses to settle once non-compliance’s consequences emerge in the process of investigation.
Compensations here and there. In case employees are present when electrical system-triggered accidents occurred, expect compensating your workers once hurt while on duty. Aside from workers’ compensations, property damages to adjacent establishments must also be settled.
You may be confident if you have insurance coverage, but non-compliance may void your insurance, which means that every compensation must come from your own pocket. From there, you’ll experience the burden of dealing with compensations.
Legal experts’ professional fees. While fire incidents may be considered as accidents, non-compliance to testing and tagging is regarded as negligence on the entrepreneur’s end. The incident may have been avoided if only the procedure segregated high-risk appliances and equipment. Expect lawsuits from employees who knew about this and pay for legal professionals’ fee. Hiring lawyers to defend or settle your case is costly. Avoid the need to hire these experts by complying with the test.
New capital in resurrecting your business. Fires will not only turn your establishment into ashes. It also burns all your investments, expenses and effort. If you’re planning to re-establish your business, you need to start from scratch in raising your capital. The problem is that re-establishment can be quite expensive compared to the time when you’re just starting your business. Imagine how cheaper it is to hire a professional electrical test and tag service to guarantee compliance instead of turning a blind eye and end up with enormous expenses due to the fire.
Facing a priceless matter. It’s true that you may reach settlement with employees and other individuals affected by the incident. Nevertheless, some aspects surrounding the incident are considered priceless. No amount of money can bring back a person who died from the fire or the trauma it caused for everyone. This burden is something that you and the affected individuals will carry for a long time.
The amount of money to settle is costly depending on the number of people and property affected by negligence. Don’t be like other entrepreneurs who turned a blind eye to testing and tagging. Call an expert to guarantee compliance and save you from these expenses.
Learn more about the author: David Hall