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Municipalities, retail stores, condominium associations and shopping malls are all working hard to balance their budget, but one element that they cannot control is the weather.
A municipality can purchase a policy to ensure that overtime and equipment expenses incurred in the removal of excessive snowfall would not force the city to borrow against its financial holdings for un-budgeted expenses, or worse, raise taxes to pay for the excess cost.
This coverage is a very specialized form of excess snowfall insurance which is specifically designed to stabilize the wildly fluctuating costs of year-to-year snow removal. Public entities are making use of this coverage to allow credible budgeting but also many businesses that rely on public access must also maintain safe passage on their property. The same problem arises in budgeting for this highly variable cost.
Compounding the problem are snow removal contracts reactive to differing levels of snow, which are generally designed to favor the contractor and not the business whose access must be cleared.
In the past, this coverage has been limited to heavy snow areas, but more recently areas, such as Raleigh, NC and Atlanta, GA, that normally don't get snow have been buried. Most snow prone states have some kind of snow removal budget but need to insure the extra expense incurred due to excess snowfall. The states that normally don't get lots of snow usually have little or no budget for snow removal. These areas have found the need for coverage as much, if not more, than the heavy snow areas.
Download the Snow Removal Application
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