Breads, rolls, cookies, pies, donuts, and cakes are only some of the tempting items baked with tender loving care by our wonderful bakeries. However, no two bakeries are the same. If you are a bakery owner, ask yourself these questions:
Is your bakery open 24 hours each day? Do you have cozy tables, so customers can enjoy their pastries? And with those pastries, do you serve beverages? Do you deliver your baked goods to other establishments such as convenience stores, bed and breakfasts, or gas stations?
At L. Calvin Jones and Co., we are prepared to offer an insurance program suited for your business needs.
A bakery like most retail establishments, is in need of an insurance program to cover claims involving injury and damage to property and/ or persons.
Let’s take a look at Livingston’s Bakery, which just celebrated its 50th anniversary. Livingston’s leases 5000 square feet in a large commercial strip center. The strip center consists of several retail stores and offices, two restaurants, and a major anchor store. More than likely Livingston’s insurance program includes coverage for business personal property, loss of income, mechanical breakdown, and spoilage, just to name a few.
Now the anchor store draws a lot of daily customers, some of whom gravitate towards the aromatic breads and pastries emanating from Livingston’s bakery. What would happen if the anchor store was closed for four months because of a fire and how would this terrible event affect Livingston’s business? A loss of customers from the anchor store translates to a loss of customers at Livingston’s. Loss of customers means loss of revenue to Livingston’s. The hidden exposure that was discovered was a potential loss from a dependent property (anchor store). To solve the problem Livingston could purchase a property coverage known as “loss of income” from dependent properties.
At L. Calvin Jones, our insurance professionals not only point out the basics, but take the time to uncover possible hidden exposures.
If you would like to investigate our services further, please contact us at 330-533-1195