Insurance for Baked Goods Stores

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Frequently Asked Questions

Why do Baked Goods Stores need insurance?

This industry consists of businesses that sell baked goods.

Any business is prone to a lot of risks - risks that when it happened can cost your business thousands or even millions of dollars. These risks are usually in a form of liability claims, personal injury, property damage or collision, and without insurance you'll have to pay for these out of your business finances. Insurance will make sure that your bakery will survive for the next day when an unforeseen event occurs.

What risks do Baked Goods Stores face?

There are a number of potential risks faced by bakeries. Customers entering your shop could slip be injured. Your bakery can be held liable, especially if it is proven that the spill that you didn't clean caused them to slip. As a baker, food poisoning could easily destroy your business. Although rare, food poisoning could stack up legal bills high enough to put you out of business. If you are invited to a special event or festival, your commercial vehicle can be in an accident, and your driver may be at fault. Costs of the other driver's vehicle damage and medical bills are immense and without insurance, your business can instantly go bankrupt.

How much does insurance cost for Baked Goods Stores?

The cost of insurance policies varies on your business size, location, services offered, revenue and many other factors. However, the rough estimates below will help you get an idea of how insurance policies might fit into your budget.

  • General Liability can cost around $500 in annual premiums.
  • Business Owners Policy (BOP) can cost around $900 in annual premiums.
  • Workers' Compensation costs about $400 in annual premiums.

These are rough estimates, so if you want to find out what insurances you need for your business and how much it costs, please talk to our customer service representatives.

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