BBQ Interruption Insurance
May 6, 2015
At Watkins, we are big BBQ lovers. We even have Ms. Que, our very own BBQ queen! Imagine our shock and concern when we heard Franklin BBQ had been attacked by a vehicle?
It is never good when your small business and reckless driver’s vehicle become one. While the most obvious damage that needs repair is the breezy hole in the wall, the less obvious, but much more severe effect, will be an interruption in the flow of income. Luckily Austin’s favorite meat stop was able to patch the hole and open up for business as usual. There were no BBQ hungry mobs terrorizing the neighborhood (not covered by your policy). But it leaves me wondering, do my clients have enough business income coverage?
Business income coverage is designed to supplement your income while property repairs are underway so that your regular flow of income remains the same as prior to the incident. At face value that is hard to imagine, but if (the now James Beard Award-winning) Franklin BBQ hadn’t been able to patch the hole so quickly, what could have happened? They wouldn’t have been able to make any money that day, but the meat was already prepared. Will the BBQ be good to sell later? What if there are unanticipated delays, like needing to get building permits, or to meet new city ordinances that may have changed since the building’s construction? What about losing customers and employees after being closed for a period of time? Recently, Franklin BBQ has started pop-up events in San Francisco. Some have sold out of their entire stock in 20 minutes! What would happen to your expansion or improvement plans when an emergency like this suddenly comes up?
Many questions come up when you think about what would happen if regular operations were interrupted by property damage. This could be a vehicle hitting your building, or a hail storm, a fire, or even vandalism. To be prepared to respond to a situation like this, first try to understand Business Income coverage, and then call our agents at Watkins Insurance Group to talk about your Business Income coverage. Use our expert advice and insurance knowledge to help customize your insurance to your needs and comfort level. We’re here to help!