Risk Or Treat? 5 Essential Coverages During Halloween
We are reaching that time of the year when children, both young and old, get to wear fancy-dress costumes, eat candy and party ‘till the dead of the night. Halloween is lurking just around the corner.
Though the spooky event might be celebrated differently from one country to another, there’s no denying that kids generally enjoy dressing up scary costumes and adults like to have fun over a few drinks. Some families even prepare candies and other confectioneries for those that’ll come up to their door and yell “trick or treat”. Candy manufacturers and craft stores may be accelerating their workload because of the demand for their products. Halloween encourages people to have fun, but it can turn into a disaster in the bat of an eye when people forget to be wary of their surroundings. With that in mind, it’s definitely great to have your clients protected in case things go wrong.
Have you heard about the Halloween costumes with head lice in them? A textbook public and product liability case. That’s just one example. Here are some insurance coverages that’ll be essential when Halloween comes haunting by:
Pumpkins be squashed and gone
Last September, Canadian farmers feared that they wouldn’t be able to produce as many pumpkins as before due to the unpredictable rainfall they had to endure over the past few months. The never-ending downpour resulted in damages to farms and a decrease in produce, turning profit into loss. There weren’t enough gourds to salvage from the disaster so the farmers decided to buy ones from the neighboring farm to plant again, revive the soil and hope that new crops will grow just in time for the next season. It’s no secret that the agriculture industry can be at the mercy of weather. Farmers, with the help of crop insurance, can be protected from a huge blow in financial losses incurred due to natural disasters. With this kind of cover, your farming clients will surely benefit from it as it’ll give them the opportunity to bounce back amidst the casualty.
Sweet confits turn sour
The unspoken Halloween currency can make kids giddy to get their hands on these sugar-coated goods. Manufacturers, more often than not, tend to release limited edition flavors of their products in relation to the ghostly holiday. However the new mixes of ingredients can be susceptible to errors resulting in some health concerns to consumers. An uproar with this kind of situation can cause companies to voluntarily take back their products or a food regulator may require them to do so. Product recall is the last thing suppliers want to think about especially when there’s a high demand for confectionery as it can negatively affect the company’s stock. It often affects retail goods such as food, beverage, electronics and toys, amongst other products. Making sure your clients are insured can help candy manufacturers remain financially stable and continue on their business despite a potential loss.
Trip or slip
Children trick or treating can be as cute as we can imagine, however it can transform into a nightmare when these small people incur bodily injuries because of accidents, such as trips and slips during house-to-house visits. Although public liability policies generally cover against these mishaps, it’s still best to remind your homeowner clients to steer clear their doorsteps or driveways of decorations that can be hazardous to kids, as even a slight mishap can have grave consequences.
Home wreckage
Some troublemakers opt to vandalize walls, causing damage to occupied or unoccupied properties. A good home insurance policy may be able to help your clients restore any damage, especially if their property is visited by over-enthusiastic little devils. You might have homeowner patrons who are also own pets. It’s best to remind them to keep a close eye on their furry animals, especially ones not used to strangers who can inflict harm and injury to people walking past their home. Ask your clients to review their policy wordings to make sure that damages, such as animal bites or scratches done to third parties, are sufficiently covered in case a pair of fangs go where they shouldn’t.
Pub wars
A festive gathering of friends and happy hours wouldn’t be complete without a glass of wine, a bottle of beer or a shot of strong alcohol. Partiers, in the midst of their revel, can go above their alcohol limit and become a bit worse for wear in public drinking establishments. Liquor liability is a must for the hospitality industry serving alcoholic drinks to its patrons. Consumers can spur up property damages or injuries to other people if they have too much to drink. As the supplier of alcohol, the patron is liable for any damage or accident caused. With risks increasing at this time of year, speak to your clients and remind them of the various coverages available that will stop their Halloween from being truly terrifying.
If you would like to dig up specialty insurance policies to find out what’s available in the market and what can your clients could benefit from, log-in to Insurr and keep the scares confined to horror movies.
Other pages of interest
7 common insurance risks on Halloween by The Nitsche Blog on October 26, 2016
Is your home insurance ready for Halloween? by CBS News on 27 October, 2015
Keep your haunted home safe for Halloween by Aviva Canada on 26 October, 2015