Seasonal businesses

Do you have a business that operates at certain times of the year? Or do you have a business that earns a significant amount of its annual income at a certain time of the year? If your business is seasonal, you have unique insurance needs that go beyond the protections of standard business insurance. Consider insurance that will protect your business:

1. Special events. If you host one-off events (e.g., a summer concert), you need insurance if your event is canceled. This policy will help you refund tickets, pay for venues, and replace the income the event would have generated. Additionally, you may want a business interruption coverage policy with no waiting period, which can help you make up lost profits.
2. Pop-up shops. If you rent space from other businesses temporarily (e.g., Halloween costume shops), seasonal insurance will protect your inventory, and may offer liability if someone is injured on the property.
3. Unexpected event losses. If your seasonal business submits a weatherrelated claim, and needs to shut down to make repairs, some policies offer income replacement coverage for covered losses.
4. Losses from a weaker-than-expected season. A seasonal business insurance policy can protect a seasonal business by making up the difference in sales if it has a particularly slow season (e.g., a ski lodge during a warm winter).

It’s important to note that seasonal insurance cannot be suspended. If you decide to cancel the policy and restart it later, an insurance company may consider a business with gaps in this coverage to be a greater risk, which may affect your insurance premiums.

If you have a seasonal business, or are thinking of starting one, give us a call. We can help you find the right coverage for your needs.