Worker's compensation insurance ensures that employees receive necessary medical care and wage replacement if they get injured on the job. Retailers usually acquire general liability and product liability policies to protect themselves against customer injuries caused by products sold. The Allen Thomas Group Retail Insurance . This type of insurance includes:Inventory Protection: In the unfortunate event of theft, fire, or other covered perils, retail shop insurance helps you recover the value of lost or damaged inventory, allowing you to restock your shelves. Umbrella insurance provides an additional layer of financial protection over and above the coverage limits of your other liability policies. If you employ full-time or temporary employees during the holiday season, or are required by law to provide them with workers comp coverage, providing it is worth considering as an added layer of protection both for yourself and for them.
One example of this coverage, Employment Practices Liability+ (EPL+), defends you from claims alleging wrongful employment practices, such as discrimination or wrongful termination. Protect those who work for you. If possible, maintain a backed-up digitized file of scanned receipts for items after you purchase or upgrade them. Workers’ compensation insurance: Workers' comp is required in almost every state for stores that have employees.
Even if it's not required, it's worth considering as a way to help protect you and your employees. With a nationwide reach, competitive rates, and a commitment to your success, The Allen Thomas Group is your ideal partner in securing the future of your retail business. If the customer decides to sue, this policy can also cover your legal expenses, including the cost of hiring a lawyer. An umbrella liability insurance policy will offer an extra layer of protection when other liability coverages stop.
Our team of specialists can tailor coverage specifically to the risks faced by your business; therefore, costs will differ accordingly. Protect your business from liability risks if an employee should claim wrongful employment practices.
EPL+ defends your business in the event of a claim alleging a wrongful employment practice, such as discrimination or wrongful termination. Small Business Retail Cyber Insurance is critical to defend against failure and to prevent unauthorized access to, or use of, customer identity information. Retail store insurance covers various aspects, including:Property Coverage: This guards against damage to your store due to unforeseen events like fire, theft, or vandalism. You can customize liability coverage to fit unique aspects of your business by purchasing additional umbrella policies.
S. - physical retail stores as well as online businesses alike - no matter where they're based or how they operate we have you covered!
Speak With an Agent Now from The Allen Thomas Group at (440) 826-3676.
Work with your agent to find the right amount of coverage for your business.
You're the captain of your ship, navigating through the ever-changing tides of the market.
Your final rate depends on the unique qualities of your business, including your building, location, personal property and employees.
Experience for Retail Business InsuranceWith years of experience in the insurance industry, we know exactly how retailers experience challenges; and have the know-how to craft policies to anticipate and address them effectively. If you have employees, or even temporary workers you bring on during holiday season, you may be required to provide workers compensation coverage. Complete The Allen Thomas Groups simple online application now and find a policy in less than 24 hours - or bundle general liability and commercial property into a Business Owners Policy which could save money over buying separate policies individually.
With so many electronic transactions, both online and at point of sale, you have a lot at stake. While any small business needs to plan for unexpected burst pipes, fires or lightning storms, retail businesses also face risks like data breaches or delayed shipments that should be planned for.
A look at how small- to mid-sized companies are vulnerable, what is at stake, and methods to help protect against hacking and data breaches.
We provide insurance by phone, online and independent agents alike. We know the challenges that retailers face, and we have the expertise to craft policies that anticipate and address these challenges effectively.
Employee dishonesty coverage is part of The Allen Thomas Group's BOP offering and should be tailored specifically to your business risks. An agent might suggest employment-related practices insurance to cover your company in the event of a wrongful termination lawsuit, or liquor liability insurance that can protect your company against claims resulting from alcohol being served at your business. Extends some property and liability coverage features for periodic overseas business travel. Cyber Insurance: In the digital age, your business is vulnerable to online threats.
Not all businesses can avail themselves of certain coverages/services offered herein and their availability may also depend upon certain state jurisdictions. As a retail business owner, you are constantly juggling multiple responsibilities. Plan for a data breach.
Competitive RatesCost can be an important consideration when purchasing insurance, which is why our retail solutions offer comprehensive protection at highly competitive prices. If your watch becomes accidentally scratched during production, general liability insurance can help cover the cost of repair or replacement as well as legal expenses associated with any potential customer lawsuits, such as hiring an attorney.
Employee dishonesty coverage is included in the BOP offered by The Allen Thomas Group. Your retail store is the heart and soul of your business, and it's crucial to protect it. Property and liability coverages come together in this policy to offer comprehensive protection. Is retail business insurance mandatory?
Product liability insurance provides protection from legal fees, medical costs, and damages awarded against your product in third-party lawsuits brought forward against it by individuals and/or entities alleging injuries to it as a result of its use, as well as property damages caused by it.
Negligent Maintenance of Property Is Defined: To define "negligent maintenance of property", any store operator who failed to use reasonable care and identified conditions on their premises that created undue risks of harm and was aware or should have known about them was guilty of negligent maintenance of the property.
Retail business insurance will protect your retail company against liabilities like customer accidents, property damage and theft, employee injuries and illnesses, as well as customer disputes.
Retail stores should invest in insurance to safeguard both themselves and their customers from potential loss due to theft, property damage, liability risks or other risks inherent to running a retail store. Coverage might include losses caused by theft, property damage and liabilities that arise as part of owning one.
Many insurers offer discounts for policyholders who pay their premiums on time or in full each year.
Retail stores can be held liable if they create hazards, know of danger but fail to address it, or fail to take measures necessary to eliminate or mitigate it.
Yes, retail store insurance typically covers a variety of customer-related risks such as slip and falls, product liability, and more.