Georgia Retailer Insurance
Georgia has 80,246 small businesses in the retail trade, and if they’re anything like the other businesses in this state, they are doing quite well in recent years. After all, 66.5 percent of the 15,384 small firms that opened in this state in 2010 were still in business as of 2012. Furthermore, 79.5 percent of the 17,261 small businesses that opened in 2013 were still open at the end of 2014. (Source: BLS, BED). This just shows that you have a great chance of success when you own a small business in this state. If you own a store, you can improve your chance of succeeding even more with the right Georgia retailer insurance.
Georgia Retailers Need The Following Insurance
Business Liability Insurance (GL): No matter what you sell in your store, you owe it to your customers to have general liability when you get a Georgia retailer insurance policy. The reason this is so important is that it’s the coverage that will be used to pay the hospital bills of any customers who are injured on your business property. It can even be used to pay for repairs to any personal belongings that are damaged at your retail store. If you do not have general liability coverage, your customers can sue you for the costs of their medical treatment or repairs to their personal property, so you’re also protecting your own interests when you include general liability with your Georgia retailer insurance.
Business Personal Property Insurance: If your building is ever damaged by burglars, vandals, or simply a bad storm, business personal property insurance will help you breathe a sigh of relief. This is because it can pay for your repairs. Other expenses it can cover include electronic data loss, debris removal, sewer backup, and more. When your Georgia retailer insurance policy includes this coverage, you can avoid going bankrupt after an expensive disaster causes damage to your store.
Workers Comp Protection: Even if you spend time training your employees properly and ensuring your store is safe, there’s a chance one of your staff members will get hurt on the job. If this ever happens, you will be glad to have workers compensation to cover the medical bills and missed wages that the injured employee will face. This coverage will also apply if an employee becomes sick as a result of working at your store. For example, if an employee becomes sick because there is a toxic substance at your store, workers compensation should cover the associated expenses.
Umbrella/Excess Liability: Your Georgia retailer insurance policy would benefit from the addition of excess liability in case you ever face a general liability claim that is more expensive than usual. Without this extra coverage, you might end up having to pay at least some of a large claim out of pocket.
Cyber Crime Liability: There are multiple ways in which cyber criminals can harm your business using technology-based crimes. If you want to avoid the long-term damages that may result, make sure your Georgia retailer insurance policy incorporates cyber crime liability.