29 Nov Top 5 reasons to get business insurance during the Holiday Season!
Every year businesses think about their overall profit for the year. In some cases, if they are in the red, they will soon be in the black with the sales that commence around Black Friday and Cyber Monday. If a business is in the black, they will use Black Friday and Cyber Monday to bring in more profits than they already have for the year. Black Friday and Cyber Monday are two “holidays” that have become a big part of our culture. On the Friday after thanksgiving around midnight you can see people lining up outside malls and stores to get the first chance at the sales for gifts for their loved ones. Cyber Monday is similar, but is web based and most of the same businesses that had black Friday sales also have Cyber Monday sales.
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 Consumers
In an article by Jack L. Hayes International, Inc. they go in depth over how many employees have been dishonest and how many consumer thefts have taken place. To look at the differences between 2017 and 2018 it strikes fear in all businesses to make sure the people that are hired and the people buying their product are not stealing from them. 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, so many issues during the Black Friday rush of people getting injured due to trampling, pushing, and products falling is cause alone for concern. There have been many incidents reported of consumers and employees that have been injured during Black Friday weekend.
- Most importantly Insurance gives owners the peace of mind to make sure that no matter what the situation they are covered.
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.
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.
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.