Insureon Blog

How Business Insurance Got Cool: the Gardiners Furniture Story

8. February 2013 16:41
business insurance for gardeners

Super Bowl weekend was big for the city of Baltimore, what with its beloved Ravens winning the title after a season of thrilling highs and frustrating lows. But the story out of Charm City last weekend that caught the attention of the insurance industry is only tangentially related to touchdowns.

It's a story that news outlets around the country have been covering, and it has caused a rare and delightful phenomenon: when people hear about the business insurance involved, they think, "how cool."

The Coolest Business Insurance You'll Ever Hear About

Here's what happened: Gary Mullaney, the owner of Baltimore-based Gardiners Furniture, decided to offer a promotion on Super Bowl weekend. If the Ravens returned a kickoff for a touchdown, he said, any furniture bought over Super Bowl weekend would be free.

A big bet, to be sure, but not one that he would likely have to follow through on.

Just in case, though, he purchased a business insurance policy that would protect him in case he had to pay.

When Jacoby Jones returned a kickoff for a touchdown in the game's second half last weekend, Mullaney was glad he'd taken out that policy. He spent $12,000 on insurance premiums, but he ended up giving away $600,000 of furniture. In other words, his insurance prevented him from losing $588,000 in a single weekend.

Even better? The free furniture gimmick got Mullaney more media attention than he ever could have garnered with a $12,000 advertising budget.

Other Cool Things Business Insurance Does

While the general public may only hear about how cool business insurance is once in a great while, we at insureon work with it on a daily basis and are always happy to see it get the recognition it deserves.

So what awesome feats can business insurance do for your business?

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Insurance News | Retail | Small Business Risk Management

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