Long days, hot nights make for riskier summer business: TruShield

“Long days and hot nights often make for riskier summer business,” says Ilda Dinis, Head of Customer Innovation & Experience at TruShield Insurance. “Whether it’s a slip and fall on the patio or a power outage that spoils thousands of dollars’ worth of inventory, just one incident can lead to liability issues or significant financial loss.”

Yet, many entrepreneurs feel their operation is not big enough to need coverage, and others believe they’re sufficiently protected by their personal insurance. “Small business owners are starved for time. Insurance is certainly not top of mind as they ramp up to take advantage of the summer rush,” adds Dinis. “However, seasonal businesses need the same risk coverage as year-round operations.”

From an accident to theft, a thriving business can go belly-up in an instant.

This year, TruShield Insurance is diving deeper into some of Canada’s beloved summer industries to help entrepreneurs identify common risks and protect what they’ve worked so hard to build.

• Patio season: Restaurants and cafes can enjoy revenue increases just by expanding their footprint to include an outdoor space. But if it rains, or someone drops food or an item on the ground, a customer could slip and fall. If they’re injured on your property, you could be facing a costly claim – it might even be enough to shut down your business completely.
• For the love of ice cream: As temperatures rise, lineups for the cold treat get longer. But heat and humidity can cause power outages due to equipment overheating, which could leave those beloved double-scoops melting into a warm, sticky mess – and shop owners to cover the cost of equipment repair, along with the loss of product and sales.
• Calm before the storm: When summertime arrives, farmer’s markets pop up around the country. From bakers, butchers, cheese and beverage manufacturers to florists and hobby craft enthusiasts, any one of these small businesses can be sidelined if unexpected inclement weather hits. A strong gust of wind or torrential downpour can easily blow over tents, resulting in damage to business property, or even an injury to a member of the community.
• Beware of Bridezilla: For most wedding planners, the allure of everlasting love is what drives their business year after year. And, while a well-executed summer wedding has all the ingredients to make those dreams come true, one misstep like booking a vendor on the wrong day, or at the wrong time, can turn a blushing bride into a bridezilla. More importantly, it can cost hundreds, even thousands of dollars in lost revenue.
• The grass isn’t always greener: When the warmer months roll around, many homeowners come down with a serious case of lawn envy. Trusting a landscaper to bring their perfectly manicured garden back to life is a no-brainer and many landscaping companies will enjoy a big spike in business. But with a thriving black market for stolen equipment, landscapers and gardeners are at risk of losing more than just their hedge trimmers. In fact, replacing costly equipment could put them out of business altogether.

“A small loss can have a big impact on your business,” says Dinis.

“We want to make sure this summer’s entrepreneurs consider the risks involved in running a small business, and that they have insurance to protect them when they need it most.”

To learn more about TruShield Insurance and the solutions they can provide, check out the Insurance 101 section at www.trushieldinsurance.ca