Business Insurance Bad Luck Cases 3 And 4 (Millburn, New Jersey)

What insurance does a small business actually need? Much of a business's success depends on how well it can overcome obstacles. Our agency is here to help guide you through the perils that you likely don't anticipate.

Bad luck case number 3. The family owners at Acme Inc. were frustrated that things seemingly out of their control were affecting the business's health, and the hits kept coming. After a huge storm one weekend, the team came into the main office on Monday morning to find a tree had fallen through the roof. Both the tree and rainwater damaged computers, monitors, printers, desks, and more beyond repair. By the time all the contractors could be scheduled and get the work done, nearly 2 months had passed before operations could get back to normal. A property. Insurance policy would have helped with replacement of the equipment and furniture as well as repair costs for the roof, walls, ceiling, flooring, and electrical. Debris removal coverage could have reduced the unexpectedly significant costs of tree and material removal, and business income insurance would have even replaced income that was lost because of the 2 months the company couldn't operate at full capacity up to policy limits.

Bad luck case number 4. The team at Acme Inc. was grateful to be able to get back to business as usual, but this piece only lasted a few weeks when a calamity of a different flavor struck. Malware managed to insert itself into one of their networked computers. But it wasn't just any malware, it was ransomware, and it quickly spread to every computer and the server. It encrypted all files, making them inaccessible. Acme bitterly paid the ransom as it couldn't survive another extended period of time non-operational. Cyber liability insurance with data ransom coverage would have made the Acme owners much less bitter.

Can you see how some variation of these examples could be applied to your business? Overwhelmed? No worries, we'll guide you through the types of policies that best fit your specific business and what limits make the most sense for each.

We'd be happy to review your insurance coverage options with you! Give us a call at 973-376-1514 or visit www.rbrucehillagency.com