In the out of home advertising industry, we know that not every problem can be accounted for, so when those unknowns arise that doesn’t mean we have to be unprepared. That is why Formetco has teamed up with Trucordia, a leading insurance brokerage, to bring their clients solutions to ensure that their assets are taken care of.

From weather to unwanted guests, having insurance for your asset gives you options when there feels like there aren’t any. When these elements strike you now have the ability to rebuild or replace the physical structure, but what about the downtime. Downtime equals loss of revenue, but Trucordia has that handled with something they call business interruption. Essentially this is you getting reimbursed for loss of profit and ongoing expenses while your board is down. But business interruption doesn’t only apply to something happening to your board, take a highway getting shut down for example. Suddenly no one is driving along a section of the road that your board sits on, but because you are insured you won’t lose revenue.

Although many operators do have insurance; we pose the question on whether it is truly making an impact. While there aren’t many boards that aren’t insured many go underinsured. Since boards are built to last years the value of them changes over time, due to regular wear and tear but also the market. If you bought a board over 10 years ago, the cost to replace that same board has increased in today’s dollars. The main concern is that over the years of operating this board they haven’t updated their plan to reflect that value, leaving them exposed.

Trucordia has had years of relationships with Formetco making this pairing a long time coming. After spending the last two years working and planning, Field Vice President & Producer, Casey O’Quinn and his team were able to put together a program with the out of home industry in mind. Making their first call to Formetco to implement it. Looking ahead to what the partnership will bring they are excited about being a resource and being able to help. O’Quinn says, “I really do enjoy what I do, even though I sell something no one likes, in my mind I’m protecting someone’s business, someone’s livelihood, someone’s family.” The goal of this partnership is to make the lives of everyone involved in a project easier.

As a part of the out of home industry, we can all agree that our assets need to be protected. In this business it’s not always a matter of if something will happen but when. Formetco is excited about partnering with Trucordia to provide a reliable resource to their customers to protect against circumstances we can’t predict.

Be sure to check out Formetco’s Behind the Boards episode to dive deeper and hear more expertise on this topic. We have also added the video below. 

For more information on Formetco’s partnership with Trucordia click here.

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