The fallout from California’s recent wildfires should serve as a reminder to Florida property owners of their need to be prepared for perils that may damage their properties. Both California and Florida are vulnerable to frequent and severe natural events. While experts can debate the cause of such perils, the loss that may be occasioned by such events is great and the challenges strikingly similar. All property owners must be prepared to protect their property and investment before the catastrophe arrives. The number-one risk management strategy is proper planning.

Despite the fact that Florida’s hurricane season is still four months away, California’s fires remind us that losses can happen at any time and for many reasons—from hurricanes, to floods to fires. Commercial property owners and tenants should constantly be vigilant to review their insurance policies and leases to determine their respective obligations and responsibilities to prepare for perils, and to compensate for and rehabilitate damage to property after disaster strikes. Both property owners and tenants should periodically and methodically review leases and insurance policies to ensure their full compliance with their legal and insurance obligations. It is the best way to try to avoid the potential legal and monetary pitfalls following a devastating loss.