With this coverage, lost wages may be replaced, medical treatment paid for and business assets can be safeguarded in case an employee sustains serious injuries at your retail store. Commercial umbrella insurance: Similar to excess liability policies, commercial umbrella policies extend coverage on a retailer's general liability, commercial auto, and employer's liability policies once their limits have been reached.
An agent could suggest purchasing employment-related practices insurance to protect against potential lawsuits regarding wrongful termination lawsuits, as well as liquor liability coverage that protects against claims associated with alcohol being served at your business.
Absolutely, bundling multiple types of retail insurance may often prove cost-efficient; for example combining property and liability policies could provide significant cost-savings opportunities - we can help you select a package tailored to meet your unique requirements. The Allen Thomas Group Retail Insurance .
General liability insurance shields you when customer property is damaged.
Liquor liability insurance: If your shop sells alcohol, you likely need this policy to comply with your state's dram shop laws and protect against lawsuits. Just like a puzzle, your retail business has unique characteristics that require a customized approach to insurance. Check with an agent or browse the Business Insurance Directory to gain more insight into what businesses we insure.
Before you purchase a policy, make a list of everything inside your business that has monetary value, including the cost of the building, if you own it. Understanding the value of these items before signing an insurance contract can help your agent tailor coverage specifically to protect what's most valuable to your business. Accidents involving customer property may arise at any small retail business. Cover yourself around the world.
Imagine your retail business as an intricate jigsaw puzzle: each piece represents different facets of its operation - from your physical store, employees and inventory to liabilities and liabilities coverage.
It typically covers things such as: When operating a retail business, property can become invaluable. Can I bundle different types of retail insurance? Should any be stolen or damaged beyond repair, insurance can help replace or repair them quickly to reduce losses and minimize downtime. Our goal is to assist in your journey through this maze by answering questions about The Allen Thomas Group as your insurance partner and showing why choosing us as such an informed choice can only bring positive outcomes. Commercial auto insurance: State laws usually require this coverage for business-owned vehicles.
If a customer slips and falls in your store, this coverage can help cover their medical expenses and legal fees, saving you from a costly legal battle. If your suppliers are unable to produce goods your business depends on, for example, an agent might suggest a dependent property coverage endorsement. Slips and falls have the potential to be a serious source of injuries among your employees and visitors. Workers' Compensation insurance: In most states, workers' comp is mandatory for businesses that employ staff.
General liability policies provide essential protection from these potential claims or lawsuits that arise as part of conducting their businesses. Add commercial auto coverage. If you run a small retail shop, you may be able to bundle general liability insurance with commercial property insurance in a business owner’s policy. When filing claims with your insurance company for damage to items purchased and paid for through purchases and payments, having records outlining what has been purchased helps your adjuster assign value to what needs replacing.
Cover yourself around the world. An experienced agent from The Allen Thomas Group has the knowledge to ask the right questions, and to make suggestions, including add-ons or umbrella policies that can let you be confident that your retail business insurance provides the right protection for your situation. As part of The Allen Thomas Group's business insurance package, you will gain access to comprehensive loss control tools and resources, including our Loss Control Services team which will review operations, procedures, and programs within your operations. If the watch is accidentally scratched during the process, general liability insurance can help cover the cost of repairing or replacing the watch.
BIEE coverage can help replace your income and expenses like rent, payroll, and other financial responsibilities while your property is being repaired or replaced. So it's smart to get cyber liability insurance to help protect you from the costs of a breach and to help you take the necessary steps to restore your customers' trust.
Protect Your Employees With Workers Comp. Retail store insurance can help compensate for this financial setback and keep your business afloat during tough times. Cyber insurance protects against losses caused by data breaches while guaranteeing the privacy and protection of customer sensitive information.
A commercial auto insurance policy is typically needed if you have a business vehicle, such as a delivery van. A retail store needs a Business Owner's Policy that covers general liability and property, including the store, its contents, which includes stock on or away from premises, and loss of income.
Protect yourself as an employer. If these assets are stolen or damaged, your insurance can replace or repair them, minimizing your losses.
Liability Insurance: Retail store insurance also shields you from lawsuits. Umbrella insurance provides additional financial protection that goes beyond the limits of your other liability policies.
General liability insurance protects your shop when a competitor alleges you copied their logo or caused irreparable harm to their reputation. Here are just a few of the ways the day can suddenly go sideways for a retail business:Your retail business is as unique as your products, so how do you decide what coverage to get? General liability coverage provides your small business with protection from common risks such as customer injuries, property damages and advertising injuries, protecting them against high legal costs while helping qualify for leases and contracts. For instance, if your vape pen accidentally cause injury to customers, general liability coverage could cover their medical bills as well as legal costs should they sue.
For example, a small e-commerce retailer without employees or a storefront can expect their insurance to cost much less than a brick-and-mortar retailer with multiple employees. It ensures that you can rebuild or repair your physical space without a significant financial setback. Protect you and your business if one of the products you sell at your retail store causes bodily injury or property damage.
The best way to get an accurate premium estimate is to consult with our experienced agents. Our reach extends to both physical retail stores and online retail businesses. Retailers need general liability insurance for key exposures such as product liability, premises liability, and personal and advertising injury liability.
Retail property insurance (or "shop insurance") offers protection from fire, storm damage, theft, vandalism, or vehicle-based (and even airplane!) damage.
Product liability insurance is an integral component of retail operations. Not only can it cover legal and financial risks associated with products sold, but it can also act as protection should anything go wrong with those products sold by retailers.
It may come as a shock that inventory losses caused by ORC or shoplifting theft may not be covered under their current policy unless a special rider was added specifically to cover this type of loss.
Most establishments need both property and liability coverage. Workers' comp is also typically mandated in most states if you employ staff. Business umbrella insurance provides additional liability protection in case of legal actions brought against the store.
Shoplifting typically isn't covered under commercial insurance policies, while theft may be. As shoplifting usually happens during business hours without anyone realizing what is happening, filing claims for this type of loss can be difficult and time-consuming.
Commercial crime insurance protects businesses against financial losses caused by criminal activities like theft, forgery, embezzlement, and fraud.