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. The Allen Thomas Group .
Auto Insurance: If your retail business relies on vehicles for deliveries or transportation, commercial auto insurance is a must.
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.
If you have employees, or even temporary workers you bring on during holiday season, you may be required to provide workers compensation coverage. Also keep a digital file of receipts after each item purchase or upgrade is completed. Competitive RatesCost can be an important consideration when purchasing insurance, which is why our retail solutions offer comprehensive protection at highly competitive prices. As convenience stores, pharmacies, vape shops and other retail establishments regularly open their doors to customers, increased traffic increases the risk of someone becoming injured or having their belongings damaged.
Retail stores eligible for Business Obligation Policies typically: In case a customer or delivery person is injured at your retail store due to an accident - for example slipping and falling - this may leave them liable for medical bills that arise as a result. Premiums Your products are the star of the show, and your focus on customers keeps you busy every day. Imagine your retail business as an intricate jigsaw puzzle: each piece represents different facets of its operation - from your physical store, employees and inventory to liabilities and liabilities coverage.
A BOP will protect the things essential to running and expanding your retail operation and making sales. The last thing you need is additional stress from disasters or liabilities that could threaten your livelihood - retail business insurance from The Allen Thomas Group can give you peace of mind so you can focus on providing customers with excellent services while expanding your company. It's our business to help keep you in business.
To get an accurate premium estimation it is wise to speak to one of our experienced agents directly. An umbrella policy might also be beneficial in cases of multiple forms of liability exposure such as retailers who face multiple forms of risk exposure. Many landlords also require proof of insurance before renting commercial space.
With so many electronic transactions, both online and at point of sale, you have a lot at stake. As with any business, retail businesses possess unique characteristics that require tailoring their insurance to match. Making photos and videos of your entire business location as well as storage spaces is another effective way to document items it owns. For instance, if your vape pen accidentally cause injury to customers, general liability coverage could cover their medical bills as well as legal costs should they sue.
Yes, you can often bundle different types of retail insurance to save on costs. If the person files a lawsuit, costs can add up quickly. It's our business to keep you in business!
While retail business insurance isn't mandatory in the same way auto insurance is, it's highly recommended.
Should any be stolen or damaged beyond repair, insurance can help replace or repair them quickly to reduce losses and minimize downtime. Commercial Auto Insurance: For businesses that rely on vehicles for deliveries or transportation purposes, commercial auto insurance is essential. It covers medical costs for work-related injuries. If, for example, a customer slips and falls on a wet floor in your store and is injured, liability insurance could cover medical costs, legal fees and damages for which you are legally responsible. Cyber Liability insurance: Cyber liability policies can protect retailers who handle credit cards online or conduct their business online from losses associated with customer transactions or data breach.
Covered expenses include customer notification (often mandatory), penalties and chargebacks from credit card companies, court-awarded judgments and more. A commercial auto insurance policy is typically needed if you have a business vehicle, such as a delivery van. Commercial auto insurance: State laws typically mandate this coverage for businesses-owned vehicles, helping cover any unexpected costs should your delivery truck or other vehicle become involved in an accident. For example, we ca help get you coverage during periodic overseas travel.
For example, if a vape pen explodes and injures a customer, your general liability insurance can cover the customer’s medical bills – or legal fees if the customer sues. Are you prepared to safeguard your retail store with general liability insurance coverage? All coverages are subject to the terms, provisions, exclusions, limits and conditions in the policy itself and in any endorsements. At The Allen Thomas Group Insurance Agency we have a team of licensed commercial auto agents ready to insure your work vehicles.
Bonus: Third-party liability coverage is optional in case a patron or supplier files a discrimination claim. Cover yourself around the world. At The Allen Thomas Group, we understand that no two retail business insurance policies should be treated alike. An agent might suggest employment-related practices insurance to cover your company in the event of a wrongful termination lawsuit, or liquor liability insurance that can protect your company against claims resulting from alcohol being served at your business.
Our expert retail insurance agents will work closely with you to create a policy that aligns perfectly with your business. Our in-house specialists will connect you with a trusted business insurance provider for a personalized retail insurance quote. Would you like to discuss the specific needs of your retail business? It can help cover lawsuits related to:If you launch an advertising campaign in a magazine, social media, or other medium, it’s important to protect your small business with this policy.
Umbrella insurance provides an additional layer of financial protection over and above the coverage limits of your other liability policies. It offers a comprehensive safety net for retailers, including:Employee Protection: Your staff is your valuable asset, and providing them with a safe working environment is a priority. General liability insurance for retailers usually includes product liability insurance, which protects against customer injuries or other damage caused by a product you sold.
We offer protection for a variety of vehicles and trailers common to retail businesses. Liability insurance can protect your business against accidents that involve customers or visitors to your store, such as injuries from wet floors. The Allen Thomas Group excels in all these aspects.
As a retail business owner, you're constantly juggling numerous responsibilities. If your wheels power your business, you'll need to add commercial auto coverage. Our experienced insurance agents are here to listen to your unique needs and concerns, offering personalized insurance solutions that cater to your business's specific risks.
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.
Prices vary based on how you buy. For example, a customer at your jewelry store might ask you to replace the battery in a watch. Retailers should ensure their policies provide coverage against data breaches, employee dishonesty, employment practices liability and perishable goods as applicable.
Business personal property (BPP) coverage covers equipment, furniture, fixtures, and inventory used or stored within your workspace - such as equipment that belongs to you personally as well as any you rent out or use for rental purposes.
Commercial crime insurance protects businesses against financial losses caused by criminal activities like theft, forgery, embezzlement, and fraud.
Product liability insurance provides protection from legal fees, medical costs, and damages awarded against your product in third-party lawsuits brought forward against it by individuals and/or entities alleging injuries to it as a result of its use, as well as property damages caused by it.
Most establishments need both property and liability coverage. Workers' comp is also typically mandated in most states if you employ staff. Business umbrella insurance provides additional liability protection in case of legal actions brought against the store.