General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
Business crime insurance, also known as commercial crime insurance, protects against organization-related crime and the resulting losses for your small business. When someone defrauds, embezzles, forges documents, or commits theft, you're covered for the losses.
Hired and Non-Owned Auto Insurance protects your small business that hires vehicles or allows employees to borrow company vehicles for business purposes. You're covered for claims of personal injury and property damage if any of your vehicles is involved in an accident.
Why do I need Newsstand Insurance?
You need insurance to keep you in business when the unexpected occurs. Selling periodicals, magazines and the daily newspaper is public service which garners a lot of foot traffic. You should have a safety net that will be able to cover the associated expenses of a customer injury without taking it from your business pocket.
Do I need Workers Compensation for my Newsstand?
Workers Compensation is a requirement in nearly every state once you start hiring employees. Even if it isn't, this insurance policy will not only help injured employees from going destitute, it will also protect you and your business from those employees suing you for their injury and associated costs.
What are risks a Newsstand could face?
General Liability risks remain the largest source of exposure for a newsstand. Since newspapers and magazines are flammable, you could lose all your inventory in a fire. Newsstands are smaller than most establishments, so strong winds could immediately destroy your kiosk. Anyone can file a slip and fall claim as he or she walks by your business. In addition, your employees can file employment practices suits against you for a toxic workplace, harassment, or discrimination.
How much does Newsstand insurance cost?
Insurance for your newsstand can vary depending on the size of the business. For a small newsstand, General Liability can cost $300 - $1,000 per year. Adding property insurance and additional coverages can grow the cost to a few thousand dollars each year.