What if there is a riot?
What if your shop gets smashed?
Are you covered?
Imagine this is your shop. What are you thinking?
For many of us now as its, the financial end of the year and are insurance is now due, it might be a very good time to find out. Only about 50% of retail insurance packages cover such damage.
I was reading here of a shop keeper in the US, who had damage of almost a million dollars. Then they discovered that the insurance will not cover any of it as their policy does not include losses from civil disturbances. A million dollars is a lot of money to a small business like this that earns about $150,000 a year from the business.
An American a few months ago, told me when he was 18, that he stood in a neighbourhood vigilante squad armed with sticks and guns when riots took place there. Those riots devastated his town. Now I can now appreciate what he was talking about as now gun sales in the US are skyrocketing.
Well, 2020, has been eventful, we started with bushfires, a pandemic and now what is planned to top this.
Anyway, I am going to ask my insurance broker shortly about what exactly is covered and I suggest that you do so too.