29 Nov Top 5 Reasons to Get Business Insurance During the Holiday Season
Every year businesses think about their overall profit for the year
Some businesses in the red use Black Friday and Cyber Monday sales to get back into the black. Others already in the black use these sales to boost their profits even further. Black Friday and Cyber Monday are two “holidays” that have become a big part of our culture. On the Friday after Thanksgiving, people line up outside malls and stores at midnight to grab the first deals on gifts for their loved ones. Cyber Monday works similarly but takes place online. Most businesses that offer Black Friday sales also run special promotions on Cyber Monday.
At Colstan we admire the turn around that these businesses create as they enter the end of the year with turning a bigger profit then they had before or in some cases getting their company out of the red. Sadly, the holiday season not only brings this happy time, but also brings risk of other issues. That is why we are here to list the top 5 reasons to get Business Insurance for your company.
Theft from Employees or Consumer
In an article by Jack L. Hayes International, Inc. provides detailed insights into employee dishonesty and consumer theft trends. Their comparison between 2017 and 2018 highlights concerning increases, reminding businesses to stay vigilant about both who they hire and who purchases their products. It is an article we strongly recommend, to look at. http://hayesinternational.com/news/annual-retail-theft-survey/Risk of business interruption
This is a big problem at any time of the year, but especially when a business might have to go days without being open due to storms. When living in the tristate area the snowstorms here can cause terrible traveling conditions and/or power outages. Being out of business can lead to not only a decrease of profit but lead to unsatisfied customers.
- Protection from lawsuits
Lawsuits can be of all shapes and sizes. From injury to breach of contract with vendors. Lawsuits come at the most unexpected time and if it happens during the holiday season it could ruin profit and so much more. - Worker’s Compensation and Disability
If someone gets injured on your property whether it is an employee or consumer it is important to make sure you are covered. Accidents can happen no matter how much we prepare for them.For example, Black Friday often leads to injuries from trampling, pushing, and falling products—serious concerns for any business owner. Reports frequently highlight incidents where both consumers and employees suffer injuries during the Black Friday weekend.Most importantly, insurance gives owners peace of mind by ensuring they have coverage, no matter the situation.
That is why businesses need to be covered at all costs. Anything can happen and when this is your income for yourself and family it is best to make sure that you have support.</p>
Here at Colstan we provide all of our clients with support and care because when you insure with us you are a part of our family. </p>
Contact us at Colstan to learn how we can help you.
We have Facebook, Instagram, Twitter, and LinkedIn with up to date information on our services and company. You can also contact us through our website www.colstan.com or call us at 631-266-2800 or 609-451-0844. We look forward to working with you to get you the best possible coverage for your needs.