Camera store insurance is generally comprised of several policies rather than one single policy. There are usually multiple types of policies that a camera store will have based on the operational capacity of the store, value of the inventory it sells, type of rental it does, type of repair work it performs, and whether the store leases its space.
Every policy will have different coverage levels, deductible amounts, and exclusionary provisions depending upon the insurer, the type of policy being purchased, and the laws of the state.
💡 We've been providing comprehensive coverage for camera stores for nearly 20 years.
Although the typical BOP will include many protections for the store, each BOP has its own set of exclusions and limitations.
Exclusions that are commonly found in BOPs include:
● Flood and earthquake damage, both typically excluded from a standard BOP and requiring separate policies.
● Worn-out parts, mechanical failures, and gradual deterioration.
● Theft by employees or missing cash, unless the store purchases additional crime coverage.
● Cyber attacks, including data breaches, ransomware, and credit card losses, unless cyber liability coverage is added.
● Accidents involving company-owned vehicles, which require a separate commercial auto policy.
● Prior knowledge of existing damage or intentionally caused damage.
● Contractual penalties incurred as a result of a dispute with another party.
● Damage to customers' cameras in for repair, unless bailee or customers' property coverage is added.
● Equipment breakdown unless purchased separately and endorsed onto the BOP.
General liability insurance responds to third-party claims for bodily injury and property damage arising from store operations. For camera stores, that can mean slip-and-fall incidents, equipment-related injuries, and product liability for items sold. Defense costs are subject to the policy's terms and exclusions.
Claim Example: A customer trips and falls over a camera bag left near the checkout counter. The customer claims you were negligent. General liability may respond to pay defense costs and damages if the claim falls within the policy's terms.
Typical Camera Store Business Owners Policies (BOPs) typically bundle together some form of commercial property and general liability coverage. The inclusion of business income and extra expense coverage depends on the carrier and the policy. As previously stated, not all BOPs include business income and extra expense coverage.
Property coverage encompasses:
● Inventory (cameras, lenses, lighting)
● Fixtures and shelving
● Point of Sale Systems
● Signage
● The building itself (if owned)
Each of these aspects is based on the causes of loss and the method of valuation used. Replacement cost or actual cash value will each affect how the loss will be settled.
💡 Claim Example: An electrical fire at your store results in smoke damage to boxed inventory in your stockroom. Your BOP may respond to covered property damage and lost income during the clean-up of the area, based on policy terms.
A store's excess liability coverage (sometimes referred to as an umbrella) is a means of providing additional limits of liability above the underlying general liability, commercial auto, and employers liability policies. It may be considered for the following reasons:
● Lease or lender requirements exceeding the limits of liability on underlying policies
● Increased exposure to large claims resulting from the sale of high-value inventory and off-site rentals
● Large volumes of customer traffic or event activity
Some umbrellas may include a Self-Insured Retention (SIR) if coverage "drops-down" where there is no underlying policy.
💡 Claim Example: A serious accident exceeds the limits of the commercial auto policy. A standalone umbrella may provide additional limits of liability above the auto policy, subject to the terms and conditions of the umbrella policy.
Workers' Compensation Coverage pays for medical treatment and a portion of wages for employees who are injured or become ill due to their employment. Employers' liability coverage is typically included. State regulations govern the requirements of workers' compensation coverage, as well as the type of entity and classifications of employees. Exposures for camera store employees include:
● Lifting heavy shipments of equipment and inventory
● Stockroom injuries from shelving or falling merchandise
● Repetitive strain from checkout, repair, or packaging tasks
● Slipping in storage or receiving areas
💡 Claim Example: An employee strains their back lifting tripods and light stands during a stocking shift. Workers' Compensation may pay for medical treatment and, if the claim is compensable under state law, lost wage benefits.
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Exposure review
Our first step begins with an exposure review to identify your store's:
● Inventory values
● Rental activity
● Repair services
● Shipping practices
● Lease requirements
Underwriting and options
Next, we gather all necessary underwriting documents and shop carriers experienced in retail and high-value property risks. You receive clear options outlining:
● Limits
● Deductibles
● Methods of valuing the property
● Available endorsements (inland marine, bailee coverage, crime, cyber)
We assist with binding, certificates of insurance, renewals, and coverage adjustments as your business grows.
Let us protect your business like it’s our own. Reach out today!
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