This week’s blog is inspired by the unexpected snow storm that hit our area this morning. The snow did not accumulate a lot but was more of a wet mess during the drive into work! Snow coverage is one of the few policies offered by US Weather Insurance that we will cover in excess and lack of. Most snow policies will cover a cancellation if it snows enough that an event will be cancelled or suffer a loss. However we also cover snow removal policies that insure that it will snow enough for some companies to remain profitable in the winter months. There are two main examples of how a snow removal policy works.
A snow plow company is a great business to use as an example of how a snow removal policy would work. The first scenario would be a company that is dependent on snow fall to generate a profit for their business. The snow plow company needs it to snow through the winter months so they can clear the roads or parking lots for their contracts. If there is no snow fall, then they don’t go to work and suffer a loss. In this scenario the snow plow company would take a policy out with US Weather Insurance for a lack of snow or if it doesn’t snow enough in the winter season. A second example would involve a snow plow company taking out a policy for more snow than anticipated that season. If the snow fall exceeds the amount contracted with their clients the snow plow company is responsible for more labor and supplies for extra jobs. In this case, the snow plow company would take a policy out with US Weather Insurance for a set amount they would want to be reimbursed per inch of snow over their contracted amount. To find out more or get a quote for a snow removal policy, give us a call at 888-882-5140.