This is how you choose the right weather insurance:
- Understand the weather risk of your business
- Choose the right weather parameters
Understanding the weather risk
If your business has been established a long time ago, you will know the weather risk better than anybody else. You know weather conditions that make your customers stay away, damage your plants or disrupt your processes.
If your business has been founded recently, the weather risk is not yet known from the past.
In cooperation with business owners from different industries, we have developed recommendations that can help you to choose the right weather insurance for your business:
- What kind of weather should I cover when insuring my restaurant?
- What kind of weather should I cover when insuring my Volksfest business?
Choosing the right parameters
WETTERHELD wants to help you to choose the right amount of insurance for your weather risk. We do not want to insure you against “normal” weather. Any business will survive a day of rain or two. To choose the right parameters, change the values of the parameters and observe how the price changes. Try to find the best balance between the amount of risk that you insure, the amount of risk that stays with your business, and the price that you pay for the risk transfer – just like any risk manager in a large company would do.
For each of the WETTERHELD weather insurance parameters, we have produced a guide that will help you to find this balance:
- What days should I cover when insuring my restaurant against bad weather?
- What days should I cover when insuring my Volksfest business against bad weather?
