One day, a severe storm hit the area, causing a power surge that damaged the salon's expensive hairdryers, styling tools, and skincare machines. The equipment was rendered inoperable, impacting Rebecca’s ability to provide services to clients and potentially resulting in financial losses.
Luckily, Rebecca invested in a Business Owners Policy (BOP) for her salon and called her insurance company to file a claim right away. The policy covered the cost to replace the equipment allowing Rebecca to get her salon back up and running in just a few days.
Without a BOP policy Rebecca would have needed to fund the cost of equipment herself. Leading to possible financial trouble and a slower turnaround period to reopen her salon.
For more information, contact the Victor Small Business team at info.smallbusiness@victorinsurance.com.
* The claims scenario is strictly documented for illustrative purposes only and provides an example of what a policy could cover. It is intended to provide a general overview of the program described. Please remember only the insurance policy can give actual terms, coverage, amounts, conditions and exclusions. Program availability and coverage are subject to individual underwriting criteria.
