Anybody Ever Get Rain Protection Insurance?

[bigleo48]

All,

Been a miserable July weather wise here...lots of rain

I was reading a recent article on rain insurance in PCW&D mag . You can get free quotes online at http://www.rainprotection.net/

Had a look at my area for the month of August. Basically for about $1000 I can insure against a "washout" month like this past July (down about 50%). So basically if it rains more than 1/10" on any given day I get paid about $500 each and every day after 7 days total of rain. It also give you a historical "payout" you would have received since 1979.

Kinda interesting. If it rains a lot (more than usual)...no sweat. If it doesn't then I make extra and can pay the contract...no sweat.

From my standpoint it would help with my bipolar moods (happy when sunny...sad or even angry when rainy).

What do you guys think?

Big

 

[MEP001]

I remember some posts on the subject a few years ago. Lots of questions, no responses from anyone who had it. It sounds like a good idea in theory, but it sounds like a "too good to be true" thing. How can someone sell insurance that won't cost the user more than the loss of income due to bad weather and remain in business? It would make more sense to me to invest in something that will turn a profit in bad weather, or put the profits from good months into something like a money market account.

I'm not saying it can't work, but someone will have to "foot the bill" for those who benefit from the service. It ain't gonna be me.

 

[Bubbles Galore]

Big,

Did you ever check that out any further? You've piked my curiosity...

 

[wardaddy]

We have been getting absolutely creamed by the cloud cover and rain patterns here in Middle Tennessee being the exact inverse of normal since November of 2007 and it only looks to get worse in this wet cloudy Dublin summer that never was we're having

I wish that such an animal as this insurance existed but that insurance company would be broke around here . The situation is reaching catastrophic.

Every wash I know of is losing money now for the second year, only those with no debt are making any money

We are laying off. Going to cheap powder-wheel cleaner cocktails for auto pre-soak instead of fancy barrel stuff, dropping insurance to loan amount and so forth just to survive....refinancing...putting in more and more personal cash

I hate to whine but it's become a nightmare.

This includes combos, tunnels etc.

Most were down 25% or so in 2008 and now some are down another 30% in 2009 from that even....it feels like folks just don't want to wash anymore ..

I have 7 washes.....12 rollovers, 36 ss bays, beaucoup vacuums and one high end wash only tunnel that I run slow and with plenty of chem goodies bathed on...not an express gimmick and my revenue is now about like it would have been with only 5 combo washes




probably 15 percent of the area's washes are in trouble, reselling, foreclosure, quicksale or something

if it ever turns around it will have thinned many washes especially high to build tunnels but then someone will get them cheaper

old car washes never die, they just get bought again cheaper or built over

between the weather and absolutely idiotic overbuilding by very very stupid unimaginative folks building impossible express tunnels on top of one another, this business has become not much fun.....I would advise no one with a brain to build a start up wash...maybe buying a fixer up on the skids in a good spot but a tunr key from scratch around here would take more juevos than I have and mine used to be wheelbarrow sized

 

[robert roman]

PC&D published an article on the subject of weather insurance for carwash.

You may want to contact Kate Carr at PC&D. Perhaps she can help point you in the right direction and locate the back issue.

You can also learn a little bit about this concept by visiting;

http://www.allweatherinsurance.com/products/income_stabilization.html

 

[bigleo48]

War Daddy,

Did you visit the site and go through the process of getting a quote online. It also gives you historic data. Might just wok for you...http://www.rainprotection.net/

Big