Snow Insurance

Snow insurance works well for events that might be affected by snowfall as well as businesses whose bottom line is impacted by excessive or lack of snow. 

A snow insurance policy can be designed to protect municipalities, property managers and other organizations from the financial risks associated with removing excessive amounts of snow. 

For many businesses, snow removal costs are a line item in their budget and usually are determined by a contract they may have with a snow plow contractor. Within that contract they likely have a ceiling on the number of storms or number of inches that the contractor will cover before they start charging additional costs. But what happens when a winter season has excessive snowfall? 

Many businesses blow through their budgets mid-season and have to pay out thousands more to have the snow removed which can have a significant, unexpected impact on their bottom line.

This type of "Snow Removal" Insurance is a great way to keep your mind at ease knowing that you won’t spend beyond a budgeted amount for snow removal costs. This seasonal coverage protects your budgeted expenses by paying an agreed upon amount per inch or per storm beyond a certain threshold. 

The policy can be customized depending on how you would like it to be structured for timeframe, deductible days and amount to insure.

Alternatively, this product can work to protect an insured whose business relies on a certain amount of snow (i.e. ski resorts, snow mobile manufacturers, snow removal companies, etc.). In this case they would insure for lack of snow.

 

We can design policies for Snow Removal Contractors who expect to be paid $X amount for plowing costs in a season. If we were to have a winter where it didn’t snow very much, we can design a policy for these contractors to be paid out at the end of a season if a certain threshold of snow was not met.