“Who invented the tube sock?”
An article by guest writer, Ryan Dowson…. Mobile Account Executive, Western Financial Group.
“Commercial insurance is… oops, did I lose you already? It’s quite understandable considering it’s the least exciting topic next to 19th century agrarian farming practices and the question of ‘who invented the tube sock?’
Maybe this will make it more interesting: Catastrophic losses in Alberta alone amounted to $5.03 billion dollars in 2016. This includes payments to damaged or destroyed businesses and property as a result of things beyond anyone’s control. In some cases, even having business insurance isn’t enough unless you know what you are covered for, and under what conditions or terms the insurance company will pay out.
There are a wide variety of coverages available from property & crime, general liability, business interruption, machinery breakdown, tool expense, and many more. All of these types of coverage are designed to mitigate the day-to-day risks that a business owner either knowingly or unknowingly exposes themselves to as part of everyday operations. Even signing that next big contract with a new customer could put you in a tight spot if your equipment gets damaged, or, even worse, you damage someone else’s property and haven’t checked the fine print of the contract for things like “Hold Harmless” agreements.
Insuring the assets of your business against damage and loss is the best way to ensure you have a business to come back to tomorrow. After all, those lease payments still need to be made whether or not that equipment is in one piece, or several. Insure to ensure!”
Should you have any questions about Equipment Leasing and Financing, I’d be happy to help. Have a success-filled April!
Deb Sands, Priority Leasing