What is a calamity? The Merriam-Webster dictionary defines the word “calamity” as “a disastrous event marked by great loss and lasting distress and suffering”. While every person may have an equal chance of suffering from a disaster, many people fool themselves into believing they are not at risk. Do you think you do not needCalifornia business insurance because the unfortunate events covered by the typical policy could never affect you? Consider the following state statistics.
According to the U.S. Geological survey an estimated 1,444,469 earthquakes occur in California every year. Severe quakes, which the USGS defines as a magnitude of 6.0 or higher, account for only about 150 of these.
Over the past five years, the California Department of Forestry and Fire Protection have calculated that there has been an annual average of 5,908 wildfires in the Golden State, which burned a total of about 238,846 acres.
The FBI’s Uniform Crime Reports state that there were 6,171 cases of arson in 2010, as well as 185,381 incidences of burglaries. The California State University Annual Report of Crime Statistics found that there were 1,970 incidences of vandalism in 2008, which is a 2.4 percent increase from the previous year.
From 2000 to 2009, 3 tsunamis were recorded by the National Geophysical Data Center. The statistics from the National Climatic Data Center show that 2010 contained 135 floods, 9 tornados, 22 hail storms, and 197 winter storms.
As you can see from the above statistics, there are thousands of calamities each year in California. Do you really want to put your business at financial risk by not investing in California business insurance?