There are many different types of weather insurance out there, because it was created for large companies, with individual contracts that cover specific weather risks.
For small and medium companies, the most common types are Rain, Temperature and Snow insurance. WETTERHELD offers all three of these types:
- Rain insurance covers the risk that it will be raining at the worst moment for your business, like Easter weekend which is so extremely important for a small lakeside restaurant’s revenue. There is also the opposite, draught insurance, which covers the risk that rain will be absent while you need it, for example if you are a small potato farmer.
- Temperature insurance covers the risk of cold or heat that is affecting your product or your customers. If it’s too hot, people will not go to the cinema, plants stop to grow, and nobody turns on the heating (good for most of us, but bad for natural gas suppliers). If it’s too cold, people won’t like spending time outside which is bad for many hospitality and entertaintment businesses, and some plants like apples might be damaged.
- Snow insurance covers the risk of too much snow which might lead to a breakdown of traffic and isolation of certain communities. It also covers the risk of too little snow, because businesses like ski lifts depend on snow to make a profit.
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