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Consignment Shop Insurance

General Liability
Property Coverage
Workers Compensation

Running a consignment shop, like any other business, means that there is a potential for liability. To protect yourself in the case of a customer injury, faulty products, litigation, fire and many other bad events, you need to have a good small business insurance policy. Without proper coverage, your business can be at risk from the costs of medical bills, repairs, and litigation.

General Liability Insurance

Start off getting a good business insurance policy by having general liability coverage. This is a basic level of coverage that protects you from incidents that occur on your business premises, as a result of products that you sell, and in the case of a customer claim after the completion of business with them. As your business grows and you add more shops, you can expand this coverage to meet your needs. The main areas of coverage under general liability include:

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General Liability Includes:

Business Owners Insurance Policy

To purchase a tailored package of commercial insurance for your consignment shop, you will likely get a business owners policy, or BOP. A BOP is a set of coverages that cover your specific needs as a shop owner. It will automatically contain general liability coverage, but the rest will be up to you. Examples of some types of coverage that you may select for your BOP are:

Workers Compensation Insurance

With a shop, you probably employ one or more employees. You should have workers compensation as part of your commercial insurance to cover medical costs, lost wages, and any other expenses that may arise if one of your employees needs it. This coverage extends to any employee who is injured or becomes ill during the course of business.

Commercial Umbrella Policy

Having small business insurance with general liability and workers compensation coverage may not be enough in the case of a catastrophic event. If something happens to destroy your shop and all its contents, your general liability and BOP limits might be too low to pay for everything. For this reason, you should consider adding commercial umbrella. This is extra insurance to pay for costs beyond what your general liability policy will cover.

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Insurance Products

General Liability (CGL) Workers Compensation Professional Liability Business Owners Policy Commercial Auto Insurance Employment Practices Liability Directors & Officers (D&O) Excess Liability Surety Bonds

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