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Storefront Crashes Increase Insurance Risks

Storefront crashes into commercial and public properties occur approximately 60 times per day in the U.S.  These incidents present injury risks and property damage, totaling up to hundreds of millions annually. As insurance companies are the ones to absorb the costs of damages and event accidental deaths, they are taking a huge hit from storefront crashes.  As we explore how these accidents might affect your drycleaning operation, protect your business with a comprehensive FabriCare Advantage Insurance program.

According to Property Casualty 360, the Storefront Safety Council has collected data on nearly 10,000 incidents over almost five years.  These are referred to as “storefront crashes” because such a high percentage fit into that category. Here’s what they found.

Crash costs to insurers.

If the driver is insured, his or her premium will cover the damages up to the policy amount.  Then, the property insurance coverage of the store will kick in up to the policy amount.  However, for larger claims, such as wrongful death, the insurance company would take the hit. In turn, premiums could increase depending on your risk factors.

Related risks.

For incidents of crashing into a storefront to steal items, the structural damage is almost always more expensive than the goods stolen.  In addition, there has been an increase in accidents regarding vehicles running into large crowds.  Whether it’s a festival, farmer’s market, or the like, one intoxicated or impaired driver can turn the festivities into a fiasco.

Despite clear guidelines on how to properly secure areas and protect crowds, and increasing liability judgements, cities (and their insurers) have been very slow to take prudent steps to protect the public, explains Property Casualty 360.

New safety standards.

In highly populated foot traffic locations such as Malibu and other spots in Los Angeles, city ordinances now require physical barriers to be in place to protect the crowds.

“Data tells us that more than 4,000 pedestrians, store patrons and employees are seriously injured every year nationwide in accidents involving storefront crashes,” explained Assemblyman Bill Quirk of California, author of AB2161.  “Further, as many as 500 people are killed [annually] due to this type of accident.  A little change in how we approach preventative measures can save lives. Most of these crashes can be prevented with some simple and inexpensive steps,” he explains.

Whether the store itself is found liable for failing to prevent these vehicle intrusions is up to the juries to decide, but taking proactive steps to protect the business and your customers will always have a beneficial payoff.

About Irving Weber Associates

At Irving Weber Associates, we understand what it takes to run a successful dry cleaning business, including the risks of legal claims and challenges that exist.  We offer laundry insurance programs such as the FabriCare Advantage program to ensure that your clients are financially protected the best way possible, so that their business can continue to thrive.  Our specialized coverage extends beyond standard policies to include Unlimited Bailee with coverage included for work in process and human error as well as Boiler Coverage and Workers’ Compensation and Property Coverage.  For more information about our program, please contact us today to learn more at (855) 764-7406.