Weather is unpredictable. And if you’re like most, the success of your business relies heavily on ideal weather conditions. This can put your bottom-line at risk for diminished sales or increased operational expenses.
Commonly, these losses are considered just the cost of doing business. In fact, 70 percent of businesses worldwide are affected by common weather events.
There is a solution. Weather insurance is a risk management product designed to protect your business against financial loss due to common types of weather. Policies are written specifically for your company’s weather risk -- like too much, or not enough, rain or snow, extreme heat, or severe cold.
Traditional property and causality insurance helps to restore property from damages such as hail. However, traditional policies don’t protect against the intangible effects unfavorable weather can have on an event or business’s success. These outcomes are typically more common and can be costly.
That’s how weather insurance is different. Here’s how it works:
It’s a holiday weekend, and you know rain causes low attendance and substantially limits your earnings. A policy is written specifically for the coverage amount you need to recover your costs based on rainfall.
If a heat wave decreases walk-up registration for the upcoming race, a tailor-made policy can help.
When increased snowfall makes it tough for your city to stay on budget … or your snow removal business struggles to make ends meet during a mild winter, a weather policy protects against that, too.
If the conditions of your policy are met based on weather data, you typically receive payment within two weeks. You can continue daily operations without lengthy paperwork.
Adverse weather is no longer “just the cost of doing business”. Weather insurance can help give you the protection and peace of mind you’ve been missing.
Vortex Insurance Agency. You can’t predict the weather, but we can protect your business from it.