NJ Business Insurance And The Companies Still Waiting For Power To Be Restored

It’s been almost a week for many homes and businesses in North Jersey without power. It is estimated byNJ.com that 27,000 people are still waiting for power to be restored, and small business might be the most affected. While it may be until the weekend before those who lost electricity have it back, the damage has already been done. Today, businesses depend on many kinds of equipment that rely on
electricity, including some you may not have thought about. Computers,
certain telephone systems, cash registers, some smoke alarms, security
systems and elevators are just a few of the items that could be damaged from an outage or power surge. More importantly companies have to deal with the the loss of income, and food spoilage in certain businesses.

According to today’s reports, Jersey Central Power & Light (JCP&L) and PSE&G met Governor Chris
Christie’s Thursday midnight deadline to restore power to 95 percent of homes
and businesses. This still leaves the other 5% in the dark. Crews from JCP&L hope to have the power restored to the majority of the 19,000 customers by midnight, but it may take a bit longer for those living in Morris, Sussex, and Warren counties who were hit harder by the snow. The remaining 8,000 customers reside in Essex, Bergen and Passaic counties. Companies affected should check  their NJ business insurance to find out what losses they are covered for, and the limits for each one. Having business insurance plays a crucial role for times exactly like this. Hopefully this weekend everyone still affected will be “back in business” figuratively, and literally!

-Robert Catalano

Photo: Andrew Mills/ The Star-Ledger