When it comes to insuring your home or car, it’s true that you might just need the basics. However, when it comes to your business, you have to prepare for natural disasters and then there’s just a much larger risk of human nonsense that you can encounter when you run a business.
Think about it, you earn money by interacting with the public, (in the public space), and you hire people from the public to work closely by your side daily. I honestly think every company should have a custom-tailored business insurance policy to suit its unique needs.
Here’s just a few examples I read about just recently.
In some instances, business owners had insurance; in others they didn’t. In any event, if these examples don’t show you how crucial the right policy is, nothing will.
Pecan Park
An entire middle row of vendor booths caught on fire at the Jacksonville Pecan Park Flea and Farmer’s Market. Most business owners said they lost an average of $10,000 in merchandise. The fire destroyed 130 stalls owned by 60 vendors. Nobody knows yet what caused the fire.
Though the flea market owners had insurance, most of the vendors did not. Over the years, many vendors developed deep friendships and helped comfort one another during this hard time.
According to Tom Francis, Senior Spokesman for the Jacksonville Fire and Rescue Department, “It was an unbelievably heavy fire load, just the untold number of products and flammable combustible items ranging from lithium batteries to propane tanks to paper and wood products,” Francis said.
A Real Life Episode of, “White Collar.”
Walter Pavlo graduated Mercer College with a master’s degree. However, he went on to embezzle $6 million during his corporate career. He now teaches college students, FBI investigators and private organizations how to better detect white collar crime.
According to Pavlo, “I cooked the books to make the numbers look better. Then I figured out how to cook the books and transfer money into a personal bank account.”
San Marco Tornado Damage
A tornado hit San Marco, Florida recently at a rate of 104 MPH. The 350 yard wide tornado destroyed 31 homes, 2 non-profits and 3 businesses. The SBA hasn’t released its damage report yet.
Hacker Gangs? Really? What Next?
Yes, I found this frustrating too. Apparently they hail from Russia and China especially, but there are also some from the US and other countries as well. In addition to hacking business accounts and office networks, some of them have even begun to hold business information for ransom. Cyber gang activity rose 23% in 2014; and in addition to the State Department and White House hackings, there were 310 major security breaches including JP Morgan Chase, Home Depot and PF Chang’s Restaurant.
What I Can Do for You
I can help you navigate the complexities of business insurance and draft a simple policy that’s right for you. Together, we can create something that can give you the safety and peace of mind you need to focus on your business, (not what could go wrong with your business). Give me a call today. I can’t wait to help you out!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
