As business owners, liquor store owners should be well-educated on the importance of working with the right business partners, keeping up with regular maintenance and knowing who to call when something goes wrong. Failing to do so could prove costly if not financially devastating.
Take for example a liquor store where the HVAC system sustained damage after a recent storm, causing the gas to shut off, while the power remained on. A New England based boiler technician was called to inspect the unit, however they could not determine a specific problem. In the end, they recommended the unit be replaced. When reporting the incident to their insurer, the insured stated they were not provided with quotes or replacement costs from the repair provider. Per the liquor store’s Equipment Breakdown Coverage, Hartford Steam Boiler was assigned the case and determined the HVAC compressor failed. In the end, the $7,500 compressor repair cost was covered by the owner’s insurance.
Had the insured followed the advice of their local repair company, the liquor store owner would have spent thousands out of pocket for an unnecessary new unit. With the trusted resources provided by their insurance partner, they were able to receive proper diagnosis of the problem and repair the damage with little interruption to their business.
A good insurance partner will want to help you keep business operating safely and keep costs down. They can even help you embrace a culture of safety to make that happen. But business owners have to take advantage of the resources provided to them.
A specialty insurance provider, like PAK Programs, can help you understand your business’ risks and point you to risk mitigation tips like scheduling periodic inspections, while making sure you are taking advantage of your insurance coverage.
In this case, the insured was able to connect with the appropriate resources through PAK Programs to ensure they got the most out of the coverage they already had in place.
