Insurance for Glass Shops
Owning a glass shop business allows you to have a retail establishment while focusing on specific niche products. As a retailer, you have many details to keep track of; you must also manage your employees while keeping your customer base satisfied with your service and products. Protect the hard work and money you have already invested into your shop with the right kinds of commercial business insurance coverage.
General liability is the type of insurance you need for basic business protection. It’s designed to help you through hard times and provide coverage for unexpected losses. This business insurance policy can protect you from liability and financial damages in case of customer injures while on your glass shop premises. It also protects you from liability due to defective products and litigation that might arise from mistakes in your company advertisements.
Business Owners Policy (Bop)
A business owners policy or BOP can be custom tailored to provide just the necessary coverage your glass shop needs. The broad coverage of general liability insurance is also included in a business owners policy.
- Equipment Breakdown – If critical business equipment malfunctions, can your glass shop handle the cost of repairs? A BOP can pay for repairs or replacement when machinery breaks down or malfunctions.
- Buildings and Contents – Natural disasters and unexpected accidents occur every day. These events can damage or destroy the building or property your glass shop operates from. Damage may also occur to the content you have inside the shop, such as your furnishings, office equipment and inventory. A BOP protects you from the costs associated with rebuilding or replacing the building structure and business content.
- Business Income and Extra Expense – A BOP can cover loss of income and extra expenses when your company is shut down or relocated for repairs.
- Products and Completed Operations (Included in General Liability) – As a part of your daily operations, you sell both products and provide services to hundreds of customers. Selling products creates an exposure for customer harm or injury. A BOP and general liability can protect you from liability losses filed by customers and provide product security for your business.
- Electronic Data – Digital records can be damaged or lost due to computer malfunctions. Your shop’s electronic inventory database, sales receipts and customer records can be difficult and expensive to replace. BOP will pay for recovery of the data through the electronic data coverage.
- Valuable Papers Protection – Critical paperwork and documents that you keep for business purposes can be protected from losses through your BOP.
- Employee Dishonesty Coverage – Dishonest actions by your employees cost your glass shop money and time. For example, employees may steal office supplies or merchandise from your store shelves leaving you with unnecessary and unexpected expenses.
Whether you drive a company vehicle, personal car or rental vehicle for business purposes, there is always the risk of auto accidents. A commercial auto insurance policy can pay for vehicle damages and losses as well as medical expenses for anyone injured in the accident.
When you hire one or more employees in your glass shop business, the law requires you to carry workers comp insurance on all individuals. Workers comp is designed to pay an employee’s medical and recovery expenses if they ever get hurt while performing their job duties.
Surety bonds provide financial guarantees to your customers and the state you conduct business in. Surety bonds are sometimes required by the State Board of Equalization on retail operations that are exposed to charging and filling taxes. The state wants a guarantee that all sales taxes will be properly filed and reported, therefore, a surety bond is required to provide the financial guarantee. On the other hand, if your glass shop provides products and services to other industries or government offices, you may also be required to become bonded before they will sign any business agreements.