Weather Insurance Can Prevent Loss
Every day, a weather event occurs that causes a financial loss of some type to businesses around the country.
For example, a business owner schedules a kite-flying expedition, and winds do not exceed the 20 miles per hour minimum for the show to go on. The business owner may lose his/her ticket sales, concessions, and the cost of hired exhibitors.
A weather policy would have protected this business when the wind was not willing to cooperate. Weather insurance is available to protect those who stand to lose from uncooperative weather occurrences.
These unique policies can be tailored to almost any situation from a one-hour event to a major movie production lasting over a year.
Potential candidates for this type of coverage include golf courses, wedding planners, stadiums, Fourth of July celebrations, ski resorts, festivals, and any other product or service offered or occurring outdoors.
The coverage is typically written to cover one specific event, meaning that if it were rainy, but windy on the day the kite-flying exhibition was scheduled, then the policy would not respond because rain was not the described peril. However, additional weather perils can be included in the policy as needed.
Another consideration is not only the loss of income from the event, but from increased expenses from costs relating to the event such as snow removal or sandbagging.
Weather insurance provides you with a dimension of coverage that you may be unaware of or have not considered. Rothco Insurance will be glad to discuss your special event insurance needs and answer your questions. Feel free to call us at (626) 839-6061.
We are pleased to provide this "Bulletin" as a service to you. While this information was obtained from sources believed to be reliable, its accuracy is not guaranteed. It does not change or alter insurance contracts or coverages.
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