Retail Success Hinges on Perfect Store Insurance Plan
Real-World Examples and Statistics
Consider the case of a small boutique that suffered significant losses due to a burst pipe. Without property and business interruption insurance, the owner would have faced a financial disaster. Instead, the insurance covered the repair costs and compensated for lost revenue during the closure, allowing the business to reopen without financial strain.
According to the U.S. Small Business Administration, 40% of businesses do not reopen after a disaster6. This statistic underscores the critical role of insurance in ensuring business continuity.