Cosmetic Supply Store Insurance

Business Liability Insurance (GL): The more people shop at your store, the better, unless they get hurt and you do not have general liability. So if a customer tripped over a box of makeup or slipped on water on the floor, you would be responsible for paying for their medical treatment. You would also have to pay for repairs if any of their belongings were to get ruined at your store, such as if their car was damaged in your parking lot. But you can avoid this by getting a cosmetic supply store insurance policy with general liability, which will pay for those expenses.

Business Personal Property Insurance: The appearance of your store is important to your customers, which means you can’t wait long to make any necessary repairs. For example, if a tornado tears down a wall or a burglar breaks a window, you need to make repairs right away. This can be costly, unless you have BPP to pay for the related expenses. This is why adding BPP to your cosmetic supply store insurance policy is essential, since without it, you might have to shut the doors to your store at least temporarily while you come up with the money for repairs.

Workers Comp Protection: Most cosmetic supply stores employ several people, and this means they should have workers comp when they obtain an insurance policy. The reason you should get this for your store is that it will cover the medical treatment your employees might need after being injured at work. So if an employee gets cut on a product, falls from a ladder while stocking the store, or drops a heavy box on his or her foot, workers comp will be responsible for the trip to the emergency room or regular doctor. This feature of your cosmetic supply store insurance policy can even cover missed wages, which your injured employees will especially appreciate if they have to stay home recovering for months and could not otherwise afford their bills.

Umbrella/Excess Liability: When you want the most protection possible for your store, you should get excess liability. You will benefit from having this when you have to face a costly claim after a customer is injured or has their property damaged at your store. Without excess liability, you might have to pay for any costs that go beyond your general liability limits.

Cyber Crime Liability: Most stores could be easy targets for cyber crime these days. If you want to make sure you have a way to protect your business from criminals on the internet, it’s a good idea to make sure your cosmetic supply store insurance policy has cyber crime liability as one of its many coverage types.