Retail Store Insurance
If you own or operate a retail business then you have come to the right place for your retail insurance needs. Here at Bains and Woodward Insurance we are aware that every retail business has different needs and its own unique exposures that can vary from one store to the next. We are an independent agent and as one we are able to shop your policy through multiple carriers all at one time. This process will save you both time and money so give us a call today and let us show you how easy the whole process can be.
Purchasing insurance for your retail store can be a big headache if you do not know what you are doing. There are many perils and risks that retail store owners face on a daily basis that are unique to their individual situations. Whether you have multiple locations or just one, serve hot foods, have a cold deli, sell liquor, clothing, car parts or just about anything else we have the policy that fits your needs. It is important that you work with an agent who understands that each retail business will have their own needs that have to be met. Rather than trying to place you with a standardized policy designed to cover a wide range of retail types we can design a policy that is tailored to your unique needs.
Why Bains And Woodward For My Retail Insurance?
We have access to some of the nation’s top carriers and we will shop your policy through all of them at the same time. We will know right away who will and who won’t take a risk as well as the coverage offered by each carrier available. Once we determine the exact coverage needs for your business we will then compare all of the eligible carriers at the same time side by side. This process helps us pinpoint the cheapest carrier with the most complete and comprehensive coverage package on your retail store insurance. Not only can this save you hundreds or even thousands of dollars a year, it will save you valuable time and effort that can be put into operating your business. When carriers compete for your business you save both time and money.
In the past if a business wanted to purchase retail business insurance that does more than offer liability coverage they would have to purchase multiple policies; possibly through multiple carriers. This could mean several billing statements coming in monthly, pricey coverage costs, having to work with multiple agents and possibly having to deal with multiple claim departments in the event of a loss. Lucky for you it is now much easier to purchase a comprehensive policy that will cover all of your business needs at an affordable rate. This is because you can now purchase a business owners policy that includes all of the additional coverage your business will need in addition to your general liability coverage.
As a retail store it is important that you carry adequate general liability coverage on your business owner’s policy. There are many risks you may face depending on what types of retail location you operate. Be sure to go over all of the business you will be doing with your agent so they can be sure to offer proper limits for your needs.
What Additional Coverage Can I Get On My Retail Store Insurance?
You will almost certainly want to purchase inventory coverage for your business. If your business is ever involved in a total loss, or even a partial loss this coverage can save you thousands of dollars out of pocket and could help save your business. Many retail locations keep a lot of product on hand and as such it is highly important they keep it insured to prevent a catastrophic loss that could end business operations entirely.
You should also look into purchasing personal property coverage for your location. This covers anything that is not inventory such as registers, chairs, desks, computers etcetera. Again, in the event of a total or even partial loss this coverage can prevent a devastating financial loss to your business. Be sure to inquire about replacement cost coverage as well. With replacement cost coverage the insurance carrier will pay out the cost of replacing lost property rather than the depreciated value of the items. The difference in price for new items versus depreciated values can be quite significant so be sure to ask one of our agents about this coverage today.
It is a good idea to ask about crime and theft coverage. You will definitely want to purchase a policy that covers loss from customer theft but you may also want to look into employee theft coverage well if you have any employees working for you. While no one likes to think about it, employees steal from their employers all the time and the costs can add up fast. It is highly recommended that you further protect yourself and your business by purchasing this coverage.
Finally you may want to look into purchasing a policy that includes business interruption coverage. This coverage means the insurance carrier will pay for any loss of income cause by a covered loss that interrupts normal business operations. This coverage can be invaluable if a loss occurs during holiday or peak seasons. Be sure to ask one of our trained agents about this great coverage today.
Don’t hesitate to contact us today; our trained professional agents are ready to help you find a great policy that fits your needs at a fantastic price. Call, click or swing by an office today!
