Terrorism Insurance - What it Costs Small Business
Saturday, April 7th, 2007The Terrorism Insurance Act of Nov. 26, 2002. This helps businesses who must have insurance from being denied, which would kill those businesses. Our General Liability Insurance Numbers have jumped about $100-300 depending on the market area. But if you consider that there have been no terrorist attacks since 9-11 this is high. For instance you are 500 times more likely to incur hail damage in Colorado than you are to get car jacked by a terrorist if you are driving a fuel truck. The trucker would probably get out and fill you full of buckshot in 2 seconds anyway rendering the terrorist quite incapacitated and/or dead. And if he had been listening to any country singer on the radio at the time, he would probably keep reloading until he ran out of ammo for his 12 gauge. In CO, NE, SD, ND and WY insurance companies paid out over 2 billion in hail damage in 2002.
In my company our franchisees have general liability insurance to wash on properties even if it is just cars.
http://www.carwashguys. (more...)
