(888) 900 0205Arts & Crafts Supply Store Insurance
Owning an art and craft supplies store can be very rewarding and fulfilling, particularly if you enjoy doing arts and crafts projects yourself. As the owner of the store, you have the luxury of running the operation yourself so that you can stay in close contact with your customers. Or you can turn it over to another person to manage the day-to-day operations. In either case, you are responsible for making sure everything runs smoothly, stays profitable, and stays safe. The best way to keep it safe is to carry the right types of small business insurance.
Why Your Art & Craft Supplies Store Needs Business Insurance
When you’re working with materials like paints, glues, chemicals, and sharp tools, accidents can happen. Whether it’s a customer tripping over a misplaced box of yarn, or a fire starting in your storage area due to flammable materials, the risks are very real. Without insurance, any one of these situations could lead to serious financial trouble. And that’s just the start—lawsuits, damage to your products, and even theft can pile on.
Here’s what could go wrong without insurance:
- Lawsuits: A customer slips and injures themselves while browsing. Now they’re suing for medical expenses.
- Inventory Damage: A fire breaks out, destroying thousands of dollars worth of merchandise.
- Theft or Vandalism: Your store gets broken into and valuable supplies are stolen.
- Employee Injuries: Your employees are using sharp blades, scissors, or other tools, and someone ends up getting hurt.
- Reputation Issues: A lack of insurance could lead to disputes and even put your store’s reputation at risk.
Business Owner’s Policy (BOP)
A Business Owner’s Policy is a bundle that includes both general liability insurance and property insurance. It’s a great option for art and craft stores because it provides comprehensive coverage at a lower rate.
- What’s covered? Everything from damage to your store’s physical location to theft and vandalism. It also covers liability claims.
- Claim Example: A sudden fire destroys a large portion of your crafting supplies. Your BOP covers the cost of replacing the damaged inventory and repairs to your building.