Say a tree crashes through the roof of your upholstery shop - are you covered?
The Hog Ring's latest blog post discusses just that. It's full of tips and advice from shop owners who've fell victim to natural disasters and have rebounded stronger than ever.
One useful piece of advice comes from Vic Anderson of Victory Machine:
"If we believe that what we have in our shop would exceed the $250,000 [policy we have], then I have to call my insurance carrier and extend it to whatever we believe the vehicle cost in here is," he said. "Sometimes on a Friday night when I leave, I'll look in the shop and [think], 'I have half-a-million dollars' worth of cars in my shop and I've only got $250,000 worth of coverage,' so I'll call my insurance agent ... and extend the coverage for the time that those vehicles are in here."
Check out the full article: http://tinyurl.com/433chlh
For this forum, I'm interested in learning what precautions other upholsterers are taking to guard themselves in the event of a natural disaster.
I've had to up my liability and then I loweed again but my agent said I can't keep going up and down
Some insurance companies that specialize in small-business policies will let you. You may need to shop around a bit before finding one. But it's definitely worth it.