Welcome to part three of the series: “Will your home be protected from these Natural Disasters?”
Today, in part 3 we will discuss:
You’ve got your shipping down, you have been having pop-ups, you’ve got a Facebook group going and you have probably been selling quite a bit. You’re also probably investing money to grow your inventory.
What started out as a hope and a dream is now your real business. Your inventory is likely worth somewhere between $5000 and $20,000 wholesale. And guess what? Everything you have built is not insured. Your home insurance policy isn’t built to cover your business. A small kitchen fire could ruin your entire inventory with smoke smell. Theft, slip and fall, or even a car accident with your inventory in transport could not only put you out of business but also put you at risk of a lawsuit.
In our last article, we addressed the question “Will my home be protected from hurricanes? In that article, we discussed hurricanes and the lessons that will prevent us from suffering an unnecessary loss. In today’s discussion, we will address tornadoes and hailstorms.
Quick question before we begin: Do you think that you will be protected with your current home insurance policy in the case of a tornado or hail storm? Let’s find out together:
Natural disasters. These words can send shivers down your spine. It seems like every day we hear about another natural disaster as they seem to rise to Biblical proportions: hurricanes, tropical storms, earthquakes, tornadoes, etc.
As a homeowner, just because you may have home insurance, it doesn’t mean you will necessarily be covered in the case of a natural disaster with your current policy. You may be wondering, “How can that be?” Well, let’s find out together as we look at the most common natural disasters that hit the United States each year.
Normally when you think of hurricanes you think of coastal towns like Galveston, Texas. The facts are though that hurricane winds can cause damage to cities that may normally not be prone to hurricane damage. For example, all you have to say is the name “Sandy” and now you have New York and New Jersey paying close attention too.
If you have a restaurant, deli, or food preparation kitchen, then read closely. We realize that restaurant insurance can be expensive. In fact, it can be quite expensive, especially when you have accidents in your kitchen.
But, here’s the thing: many commercial kitchen accidents and injuries can be avoided when safety procedures and policies are set up.
When safety is ignored, it’s only a matter of time before there are accidents. Remember that restaurant kitchen accidents only make insurance rates go up. So, doesn’t it make sense to implement these checklist points in your kitchen and food prep area?
Did you know that back in 2012, over 616,000 restaurants opened nationwide?
That’s 616,000 restaurants similar to yours. That is a heck of a lot of competition. However, some resources quote that up to 60 percent restaurants close or change ownership in the first year, which means that roughly 369,000 restaurants closed within their first year of business. What’s worse is that about 80 percent (492,000 restaurants) close within five years.
October is Breast Cancer Awareness Month. If you haven’t already seen an increase in the amount of pink you see each day, you will soon. Since the National Breast Cancer Awareness Month was founded in 1985, there’s been a definite rise in the public awareness of breast cancer.
Here is the thing: insurance companies paid out billions of dollars worth of hail & storm insurance claims so far this year. For example, here are some of the claims in Texas: