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Was your budget buried by snow removal costs last year? For most New England dmulti-family housing, snow removal is the largest unpredictable line item in their budget. There are years when there is almost no snow to remove, and then...there are years that are out of control.

One way of making your snow removal costs more predictable is buying Snow Removal Insurance. Through this insurance, developments are reimbursed for expenses incurred in excess of their deductible, based on recorded snowfall data from weather stations near the site of the development. Purchasing this insurance, of course, will increase your costs in some years (when there is very little snow) and decrease your costs in other years. The benefit is that your expenses will be more predictable. If you’re interested, speak to your management company, your insurance agent, or call ARCH for a referral.

 

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Revised: October 02, 2003.

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