And even if it did, do the morons burning and looting their own towns not understand that when the insurance check shows up, the property owner sure as hell isn't going to rebuild what they burned down, he's building somewhere else where moron dems don't tell the cops to stand back and watch the looting. "Newark, 1968 - coming to a town near you!"
Retail tends to have very low profit margins, maybe a couple percent. It's going to take a LONG time to earn back the losses, assuming they reopen at all. If your business is going to get looted every few years, there's no point opening at all.
Couple percent is a pretty good average if you're looking at large retailers (like walmart's overall sales) - those margins get even slimmer if you're talking about regional chains or high-volume stores (like how amazon often runs on sub-1% margins). Even a very liberal estimate of 5% isn't lucrative enough to take the risk of being in an "impoverished" area of town.
Doesn’t matter even if it does (and many policies do). This is the same argument as “you can deduct it from your taxes.”
Yes, I might get money back at some future date. But i have to suffer the consequences and losses NOW. There will be a delay before the payout. You can be sure the insurance company will pay as little as possible. And until then, you can’t make any income (but the outstanding invoices for the stolen stuff are still due).
Basically, it’s very hard to keep the business alive long enough for “insurance” to have an effect.
Insurance doesn't cover riots.
Even if it did, this would cause premiums to get jacked up.
And even if it did, do the morons burning and looting their own towns not understand that when the insurance check shows up, the property owner sure as hell isn't going to rebuild what they burned down, he's building somewhere else where moron dems don't tell the cops to stand back and watch the looting. "Newark, 1968 - coming to a town near you!"
Retail tends to have very low profit margins, maybe a couple percent. It's going to take a LONG time to earn back the losses, assuming they reopen at all. If your business is going to get looted every few years, there's no point opening at all.
Couple percent is a pretty good average if you're looking at large retailers (like walmart's overall sales) - those margins get even slimmer if you're talking about regional chains or high-volume stores (like how amazon often runs on sub-1% margins). Even a very liberal estimate of 5% isn't lucrative enough to take the risk of being in an "impoverished" area of town.
Or be "uninsurable"
Especially after the events of these last couple months.
True but irrelevant. Riots shouldn't be normalized even if insurance covered the damage.
Doesn’t matter even if it does (and many policies do). This is the same argument as “you can deduct it from your taxes.”
Yes, I might get money back at some future date. But i have to suffer the consequences and losses NOW. There will be a delay before the payout. You can be sure the insurance company will pay as little as possible. And until then, you can’t make any income (but the outstanding invoices for the stolen stuff are still due).
Basically, it’s very hard to keep the business alive long enough for “insurance” to have an effect.
It would be interesting to see a US map depicting where this is the case. Generally insurance companies have escape clauses for everything.