Summertime means lots of sunshine, outdoor activities and–perhaps the only bad part–unbearable heat! July, especially with Independence Day approaching, is a great time to have fun in the sun and celebrate this time of year. Families often spend weekends at the beach; old friends reunite and go on vacation. Now your business can enjoy summer-related festivities as well! Hosting a summer sales promotion is a great way to attract customers and grow your business. In the summer months, you may worry that excessive heat will deter customers from participating in your promotion and result in a negative impact for your company. With temperature insurance, you can turn this potential problem into a business opportunity to increase sales!
So, what exactly is temperature insurance? It is a unique kind of coverage that is typically used for outdoor events or sales promotions. The sponsor is at risk for financial loss due to severe temperatures that are above or below normal, so they buy an insurance policy to protect their business.
When it comes to a sales promotion, you can create an offer in which you reimburse customers for their purchase if a certain temperature is reached and not have to worry about financial losses. This creates a great incentive for customers to visit and make purchases at your retail location. The threat of excessive temperatures transforms into a successful business day.
For instance, you could offer a July 4th promotion where your business will be insured if a maximum temperature is reached. Your insured business would be compensated $1,500,000 if the temperature reaches 100 degrees in your store location on July 4th. You could then use these funds to reimburse customers for purchases they made during the month of June and suffer no financial losses!
So, consider temperature insurance as a way to beat the heat and enjoy summer! Contact us with questions at 888-982-5488.