The Allen Thomas Group specializes in tailoring insurance solutions to meet the specific needs of retail businesses, whether you run a brick-and-mortar store, a boutique shop, or an online retail empire. This policy add-on can cover loss of income or an increase in expenses that results from covered damage to another organization that your company depends on for supplies or services.
Retail stores that are eligible for a BOP usually:If a customer or delivery person is injured by an accident at your retail store, such as slipping in a spill, you could be held responsible for the resulting medical bills.
Auto Insurance: If your retail business relies on vehicles for deliveries or transportation, commercial auto insurance is a must. The Allen Thomas Group .
You'll want to make sure your BOP covers goods that are off premises as well, including goods in transit and merchandise being shipped to customers. Underwritten
With this coverage, lost wages may be replaced, medical treatment paid for and business assets can be safeguarded in case an employee sustains serious injuries at your retail store. Your products-completed operations coverage likely includes this policy to protect you against lawsuits alleging defective products and workmanship issues, while advertising injury lawsuits could become an added risk for retailers that engage in advertising campaigns. If you run a small retail shop, you may be able to bundle general liability insurance with commercial property insurance in a business owner’s policy.
Before you purchase a policy, make a list of everything inside your business that has monetary value, including the cost of the building, if you own it. A BOP often costs less than purchasing each policy separately.
This helps your adjuster assign value to what needs replacing. Retailers usually acquire general liability and product liability policies to protect themselves against customer injuries caused by products sold.
Protect those who work for you. Retail business insurance protects you against liabilities like customer mishaps, property damage, theft and employee injuries and illnesses.
Small Business Retail Cyber Insurance is critical to defend against failure and to prevent unauthorized access to, or use of, customer identity information. Employment Practices Liability+ (EPL+) covers you against claims alleging discrimination or wrongful termination as part of its coverage. You can customize liability coverage to fit unique aspects of your business by purchasing additional umbrella policies. Our goal is to assist in your journey through this maze by answering questions about The Allen Thomas Group as your insurance partner and showing why choosing us as such an informed choice can only bring positive outcomes.
Are you ready to safeguard your retail store with general liability insurance? BIEE coverage can provide essential financial protection during repairs or replacement of property. Umbrella insurance provides additional financial protection that goes beyond the limits of your other liability policies.
It covers accidents, damages or theft that might happen with your vehicles and provides essential coverage in case something happens to them. Insurance doesn’t have to be complicated. A BOP typically covers your assets such as: A BOP should protect both your physical premises (retail space or warehouse) as well as any contents on them, from displays to products.
From florists to furniture stores, many retailers rely on a vehicle or small fleet to get their products to customers.
Every business is exposed to different types of risk, so costs vary from business to business. General liability coverage provides your small business with protection from common risks such as customer injuries, property damages and advertising injuries, protecting them against high legal costs while helping qualify for leases and contracts.
You can get retail insurance through The Allen Thomas Group.
As with any business venture, advertising campaigns may lead to lawsuits; therefore it's vital that your small business protects itself with this policy before beginning an advertising campaign in magazines, social media platforms or any other medium.
As either a business owner or employee, there are a variety of preventive steps you can take to keep your data safe.
As a retail shop owner, it may be important to have coverage when traveling overseas for either business purposes or personal travel purposes. This coverage can replace lost net income or pay for ongoing expenses, including payroll or the mortgage, and for relocation expenses if necessary. General Liability Insurance
Imagine this: An electrical fire breaks out in your back office where all of your company's computer systems, security camera equipment, and extra inventory is kept.
Start with the basics and take inventory of your needs.
Be it occasional employees traveling off-site for meetings or a fleet of drivers transporting products daily, protect your business on the road from liability risks should an employee file an employment practices complaint against you.
Protect your employees with Workers Comp.
When your insurance company is preparing to reimburse you for the damage to these items, it's important to have detailed records outlining everything you've purchased and how much you paid.
Retail stores can be held liable if they create hazards, know of danger but fail to address it, or fail to take measures necessary to eliminate or mitigate it.
Retail property insurance (or "shop insurance") offers protection from fire, storm damage, theft, vandalism, or vehicle-based (and even airplane!) damage.
Retail stores should invest in insurance to safeguard both themselves and their customers from potential loss due to theft, property damage, liability risks or other risks inherent to running a retail store. Coverage might include losses caused by theft, property damage and liabilities that arise as part of owning one.
Know which items are at risk. Educate staff members to watch out for theft. Publicize the consequences of shoplifting and pay attention to dressing rooms when publicizing these consequences; engage customers; schedule accordingly, install cameras and mirrors, and engage them as a preventive measure.
It may come as a shock that inventory losses caused by ORC or shoplifting theft may not be covered under their current policy unless a special rider was added specifically to cover this type of loss.
Product liability insurance is an integral component of retail operations. Not only can it cover legal and financial risks associated with products sold, but it can also act as protection should anything go wrong with those products sold by retailers.