When you also have equipment or operate from a store
All Basic plan benefits and:
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
Business Owners Policy (BOP) assembles the basic coverage required by your business in one bundle. It combines the protection of Commercial Property and General Liability insurance in one package and can even add more coverage for your business. Great for small to mid-sized business, it saves your business a lot of money than buying individual policies separately.
Workers' Compensation will cover the expenses that come with employee work-related illnesses or injuries. This may include the cost to cover for immediate treatment or long-term costs of rehabilitation or lost income. This, in exchange for the relinquishment of the employee’s right to sue your business for negligence.
Business Interruption insurance will cover the loss of income that food markets suffer after a disaster. The income loss is covered only after a disaster-related closing of your business along with the cost of rebuilding the business after a disaster. The insurance cover your employees' wages and normal operating expenses, even though business is temporarily closed.
Product Liability insurance will protect your business against claims of property damage or personal injury caused by the products you sold or supplied through your business. It is designed to protect your business so when it happens, your food market won’t have to pay for the legal or court costs.
Food markets consist of establishments that retail both fresh and frozen food. Establishments in this industry will often sell fresh fruits and vegetables, frozen and fresh fish, and different types of meat and poultry. Butcher shops, fish markets, and fruit stands are considered to be a part of this industry.
Running a food market comes with plenty of risks. Accompanying those risks are the expenses your business could face that would potentially drain not just your profits, but your personal assets as well. Your insurance will protect your business by paying the fees of the covered incidents that your business might face. It is your business’s safety net that protects not just your business but your personal assets as well.
If a customer scraped their leg on a basket at the farmer’s market it may not require medical attention, but the customer could file a claim against your business that could cost thousands in damages.
Thousands of people are hospitalized each year because of food-borne illnesses. And if your business is the cause of these damages, you will pay for the personal injury your produce might have caused and possibly a lawsuit.
Insurance carriers will normally ask for the size of your food market, the number of employees you have and the coverage needed. Without taking these into account, below are the average cost of your insurance policies:
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