Retail Store Insurance
Why Choose Us
Find the best retail store insurance for your business. Whether you’re looking for general liability insurance, property insurance, or something else, we can help protect your bottom line.
Why You Need Retail Store Insurance
Retail store insurance is a vital part of any retail store. It provides protection against theft, fire, natural disaster, and other unforeseen events.
An insurance policy can help you recover from damages, theft, or other disasters that could happen to your retail store. It also provides protection for your customers who are injured at your store or from the products you sell.
In today’s environment retail stores are facing many more risks. From cyber criminals trying to steal your customer’s credit card information or the changing more extreme weather, insurance can help protect all your hard work and investment that you have put into your business.
The Basics of Retail Insurance
This protects your business if you are sued due to someone slipping and falling while they are at your business, or because something you sold causes an injury. This is the most important part of your policy.
If you own your own building instead of renting you will want to make sure it is covered for things such as fire, flooding, windstorm, trees falling on it and more. Your insurance policy will help you rebuild your building so you can get back to selling in no time.
Think of everything you have in your store – how much would it be to replace it all? Could you afford to do it today? Contents insurance protects not only your stock, but also your shelving, displays, cash register, computers, office equipment, and more. If you rent your store then it can also cover the improvements you have made.
Seeing as stock is the lifeblood of any retail store it is very important you have it properly insured. Insurance can reimburse you for theft, water damage, flooding, fires and more.
If you have to close due to a fire, or another insured loss business interruption pays for your lost profits and ongoing expenses that you need to pay to keep your business afloat.
Cyber crimes have risen drastically in the past few years and criminals aren’t just targeting large corporations anymore. Cyber coverage pays for liability if your credit card terminal is hacked, or if your website is compromised. It pays to notify affected customers as well as liability if you are sued.
Crime coverage covers employee theft, fraud and forgery. This is an important coverage because these types of losses are not insured unless you have crime coverage on your policy.
Other Items to Consider
Did you know you could be responsible if you or your business accidentally damages the building your rent? Tenant’s legal liability pays if you are sued for unintentional damage you cause to the building or unit you rent. It doesn’t cover wear/tear, but would cover if the unit burned down because you wired a cooler incorrectly.
Cash registers, phones, computers, furnaces, air conditioners, and coolers…what do they have in common? They all are susceptible to suddenly stop working. Equipment breakdown pays if any of your equipment suddenly breaks down without notice, or if you have a power surge that causes it to stop working.
If you use your vehicles to pick up supplies for your store or to deliver your product to your customers you should notify your current insurance company. Personal vehicle insurance will not cover you if you use your vehicle for your business.
You can insure your shipments to your customers for a variety of perils. This is especially important if you sell higher value items.
By no means is this an exhaustive list – every retailer’s needs are unique as the work they do. Please give our office a call at 905-623-4406 and let us help you get the coverage you need.