Must-have insurance policies for retailers.
If you own a retail store, then you face a number of very serious risks. To ensure that your company and commercial assets are not at risk, it’s important to secure the right commercial insurance policies. Here are some of the essential coverages that retailers need most.
- Commercial Property Insurance
If your retail store operates out of a physical location, then you need to protect it with the right commercial property insurance. This type of insurance offers protection for the physical structure of your building, along with the equipment, inventory, furniture, supplies, and other property that your business owns.
- General Liability
All businesses can benefit from having general liability insurance. This type of insurance offers financial protection in the event that your business is held responsible for third-party injuries or property damages. General liability will cover the cost of the affected party’s losses as well as your legal fees in the event of a lawsuit.
- Workers Compensation Insurance
If you have hired employees to work in your store, then you need to protect them with the right workers compensation insurance. This type of insurance will cover the costs associated with an employee getting hurt or becoming ill while on the job. This includes the cost of their medical treatment, rehabilitation, and lost wages. Additionally, if the injured employee decides to sue, then your workers compensation insurance can be used to cover your legal fees.
These are some of the important commercial coverages that retailers can’t afford to overlook. Do you have more questions about your business insurance? If so, then contact the experts at East End Insurance Agency. We are ready to assist you with all your commercial insurance needs today.