Remember the Pocket Fisherman? The Smokeless Ashtray? Or maybe the RonCo Food Dehydrator? Over the years, Ron Popeil has brought us dozens of great inventions, and many of us laughed about the idea of actually purchasing them; until we wanted a fresh bass to accompany our picnic lunch, or our cigar-smoking boss joined us at dinnertime for a tater tot hot dish, or we dishonored the memory of the late family dog by simply burying it instead of dehydrating it into a durable and decorative canine mummy.
Insurance is a lot like a RonCo product. No one thinks they’ll use it, and nine times out of ten they won’t, until the exception happens.
I have had many conversations lately with imaging equipment independent service organizations concerning insurance. Some have it and, believe it or not, some don’t.
Those who don’t typically think they either don’t need it or can’t afford it. I usually tell them this: If you don’t have it and a huge disaster occurs with someone else’s equipment, that’s not all you won’t be able to afford. I hate to sound like a liability insurance commercial, but it is definitely worth having and could save you heaps of trouble in the long run.
Hiring an Independent Service Organization (ISO)? Check for Insurance!
Mitigate your risk by making sure your third-party imaging equipment service vendors are insured. Sounds easy enough right? Well, it is, but a lot of companies don’t ask this one simple question when hiring a vendor. If they did, they might be surprised at the response. Don’t take on the unnecessary risk. Ask!
Remember the game Risk? Fun that could go on for days! Taking unnecessary risks in business, however, is not fun at all and can take months, or even years, to play out.
Uncovered? Act on getting insured NOW!
At least obtain minimum coverage at the rate you can afford. Something is better than nothing. Here at Block Imaging we have a vendor approval process and this is one of the requirements that must be met to perform subcontractor work on our behalf. Accidents happen, we all know that, and insurance is the best way to mitigate the financial risks inherent in machine work for you, groups you subcontract with, and customers.
If you are an independent service organization operating without insurance…STOP!
I only want to help…seriously. If you are providing service without insurance please consider getting insured immediately. Not only does it make sure you are covered if something happens, but it adds value to your company when someone is considering hiring you. It shows that you realize the importance of having insurance and it adds an extra level of security for the customer.
Trouble saved. Scalp covered.
It’s a given that buying insurance will add to your cost of doing business, and the premiums aren’t likely to be as affordable as the low, low monthly installments on a RonCo Showtime Rotisserie, but it IS worth getting. Just when you think you won’t need it, you will and the stress it saves will keep you from needing that other famous Popeil invention: Hair in a Can.
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