Garden Supplies Stores Need The Following Insurance
Business Liability Insurance (GL): As your garden supplies store grows, you can expect to see more customers coming through your doors. You’ll need to prepare for this by not only stocking up on all of your best-selling products, but also obtaining general liability when you get garden supplies store insurance. You need this coverage because it’s the part of your policy that will pay for the medical costs of customers who get hurt in your retail store. Another purpose of general liability is to pay for the damages to customers’ property while they’re at your shop, such as if they hit a pothole while parking in your lot and need repairs to their car.
Business Personal Property Insurance: When you have lots of customers coming in to buy gardening supplies, you need to keep your store well maintained. This means if a fire ravages the building, you need to make repairs right away. When your garden supplies store insurance policy includes BPP, you won’t have to have the money for repairs on hand, because your business insurance will cover the costs. The same goes if you get robbed and need to replace your inventory and any equipment you use while operating your gardening supplies store, since BPP will pay these costs.
Workers Comp Protection: The staff at your gardening supplies store might consist of just a few people, or it might be a large group of employees. Regardless, you need to protect them all with workers compensation when you acquire a garden supplies store insurance policy. When you get this coverage, you can feel confident that any medical bills garnered by injured employees will be paid for by workers comp. For instance, if an employee is cut while stocking or selling a sharp gardening tool, workers comp will pay for the bandages, stitches, and any other medical costs that are necessary. If that employee has to miss work for a few days or even longer, workers comp will likely reimburse him or her for the missed wages during that time.
Umbrella/Excess Liability: If you are worried about the possibility of being responsible for major medical or legal costs after customers get hurt while shopping at your store or using your products, you need excess liability. This simply extends the coverage you get with general liability once you get a garden supplies store insurance policy, making it less likely that you will pay with your own money when a customer is hurt.