an uninsurable future

Counting On Insurance Coverage

A buddy counted on
insurance covering
any lawsuits
his business experienced.

Then he lost
his insurance coverage.

Because his physical store is
situated in
a frequently flooded area.

He’s hustling to incorporate
now.

It is a huge mess,
expensive
and every day
his business isn’t incorporated
is a day
when all his personal assets,
his personal home and pension,
are at risk.

Climate change
is slamming the insurance companies.
They are aggressively
canceling contracts.

We can’t count on insurance
anymore.

Ensure the risks
to you
and your business
are covered
in some other way.

An Uninsurable Future

Business owners have
the choice
between
renting their locations
and
buying their locations.

In the past,
if the business owner
had the funds and/or the credit,
it often made financial sense
for them to buy
their buildings and/or lots.

It was rare
that the land would decrease
in value.

And it was assumed
the site could be insured.

Today, we can’t assume that.

Due to climate change
and other factors,
many places, many structures,
many lots
can’t be insured.

If they can be insured,
the insurance premiums
are often larger than
mortgage payments.

Factor
the current insurance situation
into your buy vs rent calculations.

It is a significant variable.