5 Ways to Protect Your Lawn & Garden Dealership from Retail Risks

Insights from Leo Heintz of Erie Insurance on natural disasters, cyber attacks and more.

Securing an optimal location, filing paperwork, building an online presence, developing a marketing plan … these are just a few tasks equipment dealers need to check off their list when setting up shop. Whether it’s a new business or one that’s been around for a while, dealers need to make sure they have plans in place to protect their business long-term.

To not only survive but thrive, dealers need to assess their plans to prevent risks. Erie Insurance helps dealers properly protect themselves from a wide variety of potential hazards. Below are solutions to common retail industry problems that an insurance company like Erie can offer ­– so you can run your dealership worry-free.

1. Mother Nature nightmares

Your building loses electricity for more than 24 hours after the weight of snow and ice causes disruption in transmission lines off-premise. Mother Nature contributes to you losing thousands of dollars in revenue; however, insurance can cover you with increased limits for loss of income, rental income and extra expense protection.

2. Don’t mean to burst your pipes

Your inventory sustains water damage from a burst pipe during your busy season, which leads to having more inventory on hand than usual and it’s ruined. Insurance can cover the costs to restore or replace your business’ and your employees’ personal property.

3. Adding fuel to the fire

A fire damages your inventory, and in addition to inventory loss, you’re required to pay a penalty for failing to deliver to your customer on time. Insurance can cover the lost inventory (up to your policy limits) as well as funds to pay contract penalties.

4. Breach in the system

Your computer system suffers a data breach, and your customers’ credit card information is stolen. Legally, you’re required to notify any customers affected. Insurance can cover you with data breach response expenses coverage, which pays the costs involved in notifying your customers of the breach.

5. Accidents happen

Your delivery truck is totaled when another driver runs a stop sign. That could cause you to lose an account because you can’t deliver while your truck is out of service. Thankfully, insurance can cover damage to the truck, including attached specialized equipment or shelving, as well as costs to rent a substitute vehicle in the interim.

Hopefully by now you have a better sense of the risks you face as a business owner and know the steps you can take to protect yourself and your business.  You can easily get some peace of mind about your coverage by speaking with an insurance professional, such as an Erie Insurance agent. Erie Insurance has a program that includes products and services specifically developed to provide dealerships with the protection they need.

Leo Heintz is vice president and product manager for Commercial Lines at Erie Insurance, a property/casualty and life insurance company founded in Erie, PA, in 1925. Erie has a program that includes products and services specifically developed to provide retailers with the protection they need. More information can be found at ErieInsurance.com.