No Business Insurance? 3 Scary Scenarios

Even though Halloween is over, we thought it was a good time to look at something particularly scary for business owners–what can happen when your business is uninsured or underinsured. Read on for a few situations that will give a business owner nightmares for weeks.

Business interruption insurance

 

Would you believe that there is an insurance product specifically designed to help insure a solid, sustainable profit? In fact, without this coverage, hitting your profit targets may become impossible.

Insuring Income: The Lifeblood of Your Business

If someone asks you if your firm has a catastrophe plan, how would you respond? Would your answer sound something like this: “There’s nothing in writing, however, if something happened that compromised our ability to earn we have a good idea what we would do.”

Don't Get Robbed Twice!


  • Your business has been burglarized and, you find yourself standing amid broken glass. There’s trashed shelving, broken displays and missing merchandise. While vowing revenge the thought comes to your mind: Will my insurance cover this?
  • You realize your favorite cashier is been stealing from you. Taking $20 here and $50 there for several months. Now your loss totals more than $2,000. You make a note to ask your agent: Will my insurance cover this?
  • You can’t believe it! Although your inventory records say you have 50,000 widgets in stock, there are only 1,000 in the warehouse. What happened to the other widgets? Lost? Stolen? Never delivered? As your heart sinks over the lost sale, you think: Will my insurance cover this?
  • You watch sullenly, held motionless by the gun, as the thief cleans out the cash from your register. As fear mixes with anger, it is doubtful you are asking yourself: Will my insurance cover this?

The quick answers to the above are partially, possibly, unlikely and maybe.

How much building insurance is enough?

As a small business owner, you know the importance of preserving your assets. For many business owners, the largest single asset they possess is their building. Whether you occupy the building or operate as a landlord (or both), consider key exposures in your risk-management and insurance planning.

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