Insurance for Other Stores
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What Insurance Do Other Stores Need?
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.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
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.
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!
Frequently Asked Questions
Why do Stores need insurance?
This industry consists of smaller, often specialty, retail stores. This includes stores that retail shoes, window treatment, musical instruments, luggage, leather goods, toys, games, general hardware, home furnishings, and fireworks. Retailed goods can include golf shoes, handbags, blinds, craft supplies, power tools, carpets, picture frames, or low-cost dollar store items.
Your store needs insurance to protect it from the risks that your business can face. The insurance will pay for the covered risks up to its limits, saving you from having to pay for the expenses out of pocket.
What risks do Stores face?
Stores have plenty of unique risks. Below are some examples:
- Because you failed to clean the snow that's accumulated in the store's entryway, a customer slips while coming into your store and suffers injuries as a result.
- A recent storm floods your store, destroying most of your merchandise. This incident forces your business to close until you can recover from such a loss.
How much does insurance for Stores cost?
The cost of insurance for stores varies due to the fact that there are various factors taken into account to estimate the cost. The most common factors are the size of your business, the number of employees you have, and the coverage required. To find out the cost of your insurance fast, just fill out our online application, and we'll send your quote in minutes.