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November 28, 2016

Storms, fires, floods: Is your firm covered in a disaster?

By JOYCE M. ROSENBERG
AP Business Writer

NEW YORK — A fire at the gun shop next door never reached Kathy Laurienti's sausage and specialty food store, but the water and smoke damage was enough to shut her business down. Because Laurienti didn't have enough insurance, it's still closed — more than a year later.

Laurienti still doesn't know how much her total losses will be, but estimates she'll have to pay $30,000 to $40,000 from her own pocket. While she had $10,000 in coverage for lost income, she'll likely have lost $100,000 in business by the time she can reopen.


 
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