Retail Store Insurance

Coverage that protects your Retail business

Get the Best Business insurance for Your Retail Store

The retail industry is a tough business. In the US there are over 3.6 million establishments and which directly and indirectly accounts for 42 million jobs, accounting for 1 in 5 jobs in all 50 states. You may live on the simple concept of “buy low, sell high”, but it’s usually not that simple. Whether you own one storefront, a store chain or a franchise you need to make sure your retail business  is properly protected with the best retail insurance policy.

Every retail business has some risk that it needs protection from, bug and small. Such as:

  • The New York City case of a man suing a supermarket for mislabeling their products.
  • The 2015 business that was hit with a lawsuit for not having a ramp for disabled customer
  • The New Jersey case of the lady who sued a store for $200,000 over  slip and fall injury

East Insurance Group offers your retail business with the specialized coverage you need to keep your business up and running even in the event of a disaster such as a storm or lawsuit. This is a package of coverage designed o protect you from the typical risks you face every day as the owner and are tailored to your specific business type, your employees and budget.

Typical Risks of the Retail Business

Every retail business is slightly different from the business down the street, and requires a slightly different commercial insurance plan. However, these major policies are important parts of any retail business protection plan.

  • Business insurance: This coverage isnt always required, but highly recommended. It will protect your business and allow it to keep running even in the face of a catastrophe.
  • Unemployment insurance: According to the SBA Businesses with employees are required to pay unemployment insurance taxes under certain conditions. If your business is required to pay these taxes, you must register your business with your states workforce agency.
  • Disability insurance: A disability insurance policy can help cover daily living expenses and provide resources for recovery and return to work if one of your workers suffers a non-work-related injury or illness and is unable to work, .
  • Commercial auto insurance: If you make deliveries this policy will protect your fleet of company owned vehicles in cases of accidents with other vehicles.
  • Flood insurance: If your business is in a flood risk area you should consider getting a flood insurance policy to porotect against flood damages.

Retail Business Insurance: Protecting Property and Assets

 

 

Retailers insurance can get your business a variety of coverage to ensure your business has enough coverage. Even a small store may not be covered enough with a basic property insurance policy, and larger retail businesses require other coverage options to achieve the best coverage. This could include:

  • General property insurance: This insurance can provide compensation for your loss. protect your stores merchandise as well as furniture, racks, shelves and counters from  lost or damaged due to severe weather, fire, vandalism or major theft, however this may not cover shoplifting or petty theft.
  • Computer property insurance: Computers are oten the unseen backbone of any brick and mortar store. This policy will cover  computer equipment used in your store should they be rendered useless thanks to cyber issues such as virus or need repair because of breakdown.
  • Backup of sewer or drain insurance: Sewer backup can ruin thousands of dollars of inventory and store equipment. This policy can offer you compensation so that you can repair or replace your damaged items.
  • Signage insurance: This policy will protecy signs from damage and vandalism .

Retail Business Insurance: Liability Coverage

Every day thousands of customers flood through your doors and in todays lawsuit happy society, it only takes one angry customer having just the wrong experience and youve opened yourself up to a liability lawsuit. A good retail liability insurance policy can protect you by offering the following policies.

  • General liability: General liability insurance will provide you with coverage to protect against lawsuits such as slip and fall, trips on the curb, or gets injured by a falling object. If theyre on your property.
  • Product liability: Product liability insurance provides protection against faulty and non-working products. Should someone be hurt, injured or got sick by a product or service that you are offer or sell in your store you may be held liable.
  • Workers compensation insurance: This insurance provides you with the necessary coverage. in cases where an employee is injured on the job, and will help cover all resulting medical costs.

What our Clients say

Don’t take our word for it, see what some of our clients have to say

“East Insurance Group saved my retail business thousands in premiums. Dave and Mike know their stuff!”

Greg S. | New Jersey

“One of my staff got injured and I was afraid it would really cost me. East Insurance Group was there to make sure everything would be all right.”

Larry B| Baltimore, MD

Get a Personalized Insurance Quote for your Retail Business

 

Our policies meet the strict standards of your vendors.

Get your business better coverage & rates. 

Talk to an experienced insurance agent today.
 

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