Business Insurance Bad Luck Cases 3 And 4 (Moab, UT)
What insurance does a small business actually need?
Bad luck case number 3. The family owners at Acme Inc. were frustrated that things seemingly out of their control were affecting the business's health, and the hits kept coming. After a huge storm one weekend, the team came into the main office on Monday morning to find a tree had fallen through the roof. Both the tree and rainwater damaged computers, monitors, printers, desks, and more beyond repair. By the time all the contractors could be scheduled and get the work done, nearly 2 months had passed before operations could get back to normal. A property. policy would have helped with replacement of the equipment and furniture as well as repair costs for the roof, walls, ceiling, flooring, and electrical. Debris removal coverage could have reduced the unexpectedly significant costs of tree and material removal, and business income insurance would have even replaced income that was lost because of the 2 months the company couldn't operate at full capacity up to policy limits.
Bad luck case number 4. The team at Acme Inc. was grateful to be able to get back to business as usual, but this piece only lasted a few weeks when a calamity of a different flavor struck. Malware managed to insert itself into one of their networked computers. But it wasn't just any malware, it was ransomware, and it quickly spread to every computer and the server. It encrypted all files, making them inaccessible. Acme bitterly paid the ransom as it couldn't survive another extended period of time non-operational. Cyber liability insurance with data ransom coverage would have made the Acme owners much less bitter. Can you see how some variation of these examples could be applied to your business?
We'd be happy to review your insurance coverage options with you! Give us a call at (435) 259-5981 or visit https://www.insuremoab.com.
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