Furniture Store Insurance
Furniture stores tend to be very elegant, attractive places. You have a lot of expensive inventory on hand at all times to create the best display possible for your customers. The last thing you need as the owner of a furniture store, is to worry about how you will manage the financial burden of replacing items lost due to unexpected events. A number of commercial insurance coverage options exist to give you the best protection possible for your specific business needs.
General Liability Insurance
General liability insurance helps you protect as much of your business from financial loss as you possibly can. As a comprehensive coverage option, general liability automatically provides insurance protection for new products, new services, and new business locations as your furniture store grows.
General liability protects you from customer accidents inside your store. It also protects your business from potential financial hardship if one of the products you sell is hazardous to a customer in some way.
General liability is a commercial insurance policy that you can purchase by itself to provide basic coverage for your business. It is also included in a business owners insurance policy.
Business Owners Policies
A business owners insurance policy (BOP) is ideal for small businesses like yours because it protects you against a wide variety of potential events. Business owners insurance protects you from the loss of your physical structures, such as the primary furniture retail store you operate from. It also protects the contents inside your store, such as the inventory you carry.
BOP is a flexible form of insurance that can be configured to meet the specific needs of your furniture store. If you keep valuable papers or accounts receivable inside your store for example, this insurance will protect those items from loss. It will also restore, recover or replace lost electronic data and equipment such as your store computers and specialized home design software applications.
Commercial Auto Coverage
Furniture store owners generally offer delivery services to their customers. Whether you own company delivery vans or your employees use their own vehicles, commercial auto insurance protects your business if there is an auto accident. Business auto insurance can cover collisions and impacts, theft, vandalism and medical bills if anyone is injured.
Workers Comp Insurance
Your furniture store is likely staffed with sales specialists and delivery personnel. As an employer, you are required by law to carry workers comp insurance. Workers comp protects you and your employees if anyone is injured while performing their job, or made ill from their job duties. Workers comp covers employee medical expenses, lost wages, and provides for disability where applicable.
Surety bonds provide guarantees that you will deliver goods or services according to the terms of binding contracts you enter in to. If you contract to furnish a new office building and your supplier fails to deliver the furnishings on time, your contract cannot be honored. Surety bonds pay your customer for damages and loss caused by your inability to fulfill the contract terms.
Talk with one of our small business insurance professionals today to design just the right commercial coverage for your furniture store needs.