Not morons, quite the contrary. The store merchandise is covered dollar for dollar isn’t it, equivalent to 100% sales? On the other hand a shooting on their property would provoke a lawsuit which may exhaust their insurance coverage even if they won it, wouldn’t it?
Thanks in advance for correction and insight.
Good luck on the insurance claim.
The cat is out of the bag.
Kind of like arson isn’t it? It sure aint an act of God.
If it was an insurable loss it would be limited to cost or in the best of circumstances, replacement value for the inventory. Never heard of a policy which will give the insured the equivalent of 100% of retail sales? That would be an invitation to criminal behavior by the business owner.
And I have never heard of a policy which will cover inventory "shrinkage", i.e. theft by employees, shoplifting or looting. The premiums would be outrageously high since fraud would be a major problem. Insurance companies write policies in a restrictive manner because far too many folks look at them as a limitless piggy bank when they are not.
So to answer your question based on my experience, the store is either looking to not piss off the locals by having them arrested or for some political reasons they are accepting the loss and will recover it from higher prices later. Losses from looting won't be covered by insurance in my opinion. And Family Dollar Store does a great disservice to other businesses and residence in the area. If they wish to give away merchandise, do it in an organized manner through the local Salvation Army or other relief organizations rather than allowing lawlessness in the streets.
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I'm speaking as a former business owner who had two claims from tornado damage in the Midwest. The insurance agency encouraged me to board-up, cover-up as best I could to limit further damage and they reimbursed actual cost for plastic tarps and plywood without batting an eyelash. The insurance adjusters were there the next day and treated me fairly I felt, delivering a check for me the very next day. They were working for the company but were familiar with the damages which storms cause including replacing damaged insulation in the attic and repainting. In one storm the entire roof had to be re-shingled and by putting in some sweat equity on my part I was largely covered in full.
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People who have had days to prepare for a storm should take it upon themselves and buy easily prepared food and bottled water, plus fill some buckets for cleaning and sanitation in the days prior to. This whole subculture in America that if you need or want it you just go and take it ........ should be met with arrests and prosecution or the more expedient means available.