Retail Store Business Insurance

Starting your own retail store as a small business owner is hard work. You have had to labor over each detail every step of the way to ensure your retail store is a success. Now that you have the perfect location picked out and profitable products on the shelves, you need to protect your investment. Whether you’re worried about potential harm, damage or loss in the future, small business insurance coverage helps protect your retail store from many potential problems.

General Liability Insurance For Retail Stores

General liability insurance is designed to protect you from basic accidents. If a customer trips and falls on the sidewalk outside of your retail store she may sue you for damages. General liability insurance coverage protects you from losses due to suits of this sort. General liability also helps protect your business from potential hazards or problems you may not have previously considered. If your retail store is subjected to a catastrophe that is not covered by other areas of your business insurance, general liability will often take care of those gaps.

Business Owners (Bop) Policy For Retail Stores

BOP is critical for protecting your business assets. A business owners policy insures your business building and the contents inside. If your primary retail location is rendered unusable due to a disaster, BOP will provide the funds for temporary relocation. Having a temporary place of business allows you to continue operating and earning profits while your primary store is being repaired or replaced.

Business owners insurance also covers simple things such as an air conditioner or furnace malfunction.

BOP protects valuable papers that are kept inside your store. If you keep hard copies of customer warranties for example, the business owners policy will reimburse you or your customers for their loss. It also reimburses you for the loss of accounts receivables that were on the premises at the time of the incident.

If you keep important records and paperwork in electronic format, a business owners policy protects your retail store from those losses as well. BOP insurance also protects your store from employee dishonesty. In the event that an employee steals merchandise or money for example, your store BOP insurance will cover the losses.

Business Auto Insurance For Retail Stores

Commercial auto insurance protects your business when motor vehicles are used for company purposes. If you use company vehicles to deliver goods to a customer and there is an accident, commercial auto insurance covers medical expenses and car repair bills. Business auto insurance can also cover theft, vandalism or other impact damages. This coverage saves you from having to use company funds for vehicle repairs and replacement.

Workers Compensation For Retail Stores

Retail stores have many employees. By law you must provide workers comp insurance to your employees just in case they are hurt or injured while working. Workers compensation insurance pays doctor or hospital bills caused by work related accidents. It also pays for lost wages, temporary disability, and job retraining if necessary.

As you can see, getting your retail store operational is only half of the work. Keeping your store operational, profitable and safe from unexpected problems is an ongoing challenge. We can help you meet that challenge by providing you with the most important commercial small business insurance coverage you need.