When you also have equipment or operate from an office
All Basic plan benefits and:
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
Business Owners Policy (BOP) combines the Commercial Property and General Liability into one convenient package. The insurance will help cover your business from the claims resulting from property damage like fire, theft, and claims involving bodily injury, personal injury and advertising mistakes that could happen during your business operations.
A state-mandated insurance, Workers' Compensation is mandatory if you meet the minimum requirements of the state your business is in. The insurance will pay for medical fees, rehabilitation fees, and even an employee’s lost wages if they become ill or injured on the job. The insurance will then relinquish the employee's rights to sue the business for employer negligence.
Crime insurance will cover your business’s merchandise, money or any other property loss. This includes all loss suffered from business-related crime like forgery, robbery, embezzlement, securities theft and other related crimes.
When your business property suffers a disaster, your Commercial Property insurance will only cover for the property loss, but what about your employees' income and other expenses? Business Interruption insurance will cover for your employees' salaries, recurring expenses, lost income and other bills after a disaster to help you get back on your feet again.
Establishments in this industry sell both consumer and household electronics. Retail shops will specialize in new electronic products and software such as televisions, cameras, computers; or household electronics and appliances, such as refrigerators, vacuum cleaners, air conditioners, ovens, and similar devices.
Your business could be one faulty product away from falling bankrupt, especially when the product you have sold to your customer causes them financial harm. Without insurance, your business will be paying court and legal fees from your business or personal finances. Insurance is your business’s safety net. It makes sure that when it happens, your insurance will pay for the expenses up to its covered limits.
Opening an electronics store business comes with inherent risks. Some of those include:
These are just some of the many risks electronics stores can face.
The cost of insurance for electronics stores varies on the type of services you offer, the size of your business, the number of employees you have and many other criteria. To determine the cost of your insurance, take our online assessment or simply call our customer service representatives. We’ll be happy to assist you with your needs.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
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