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
When running a tobacco shop there is a great risk of damage, theft or crime, placing a large financial risk on your plate. Employees are at risk of injury as well as customers. Coverage for all those dangers can keep you and your store safe and in business regularly.
Business Owners Policy (BOP) combines various insurance coverages under one coverage. It is a combination of Commercial Property, General Liability insurance and other coverage like Equipment Breakdown that a business might need. It's great for small and mid-sized business as purchasing individual insurances can be expensive; thus better savings in the long run.
Your employees can get sick or injured while working at your tobacco store and when they do, you'll be glad to have Workers' Compensation. This insurance will provide wage replacement, medical benefits to employees who are injured on the job. The employee has then relinquished the rights to sue your business for negligence.
This type of insurance helps cover the losses resulting to criminal acts done to your business like burglary, robbery and other forms of theft. The insurance will cover your merchandise, profits, and property loss from the crime committed.
Product Liability insurance protects your tobacco store from claims of damage or injury that arise from selling your merchandise. It is designed to protect your business by ensuring that when a lawsuit happens, you don't have to pay for any legal or court costs.
When your property suffers property damage from fire, theft, storm or natural disaster, your Commercial Property will just cover property damage, but what about your income? Business Interruption covers the loss of income that your tobacco store suffers when closing after a disaster. It covers the profits that would have been earned when your business is operating as usual.
Employment Practices Liability Insurance (EPLI) covers the wrongful acts that arise during the employment process. It covers the most frequent claims like discrimination, wrongful termination, and sexual harassment. It also covers inappropriate workplace conduct like an invasion of privacy, failure to promote, employer negligence, etc.
More than tobacco sales, people socialize in tobacco stores much like a cafe. Whenever customers spend time in your store, the liability risk increases because they are more likely to get hurt or damage your property. Also, if you sell flammable substances like lighters and refills, or allow smoking inside your retail space, the risk of your property catching fire is high. Tobacco products are a health hazard, so your store is always at risk of being sued. For these reasons it can be hard to get insurance for a tobacco store.
When your customer becomes sick or injured from using the tobacco products you sell, Product Liability insurance protects your store's profits. Say a customer files a lawsuit against your store claiming that the product you sold exploded on his face, causing physical damage. If the court rules in favor of the customer, you'll pay for the injuries, the defense costs and any additional settlement costs. Product Liability insurance will manage the finances to that lawsuit while you continue to manage your store.
Yes. It is required in most states and it covers the medical and/or rehabilitation costs in the event that an employee got sick or injured while working on your tobacco store.
No. You will need to purchase additional protection that will supplement your insurance policy. You'll need a flood insurance policy through the National Flood Insurance Program (NFIP).
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