Is Your Retail Store Insurance in South or North Carolina Sufficient?
Retail stores are the backbone of local economies in both South and North Carolina, as they provide important products and services to the people, on demand. Unlike online merchants (which can take days to deliver products) retails businesses are there with what you want when you need it. No matter what type of local business you run, you need to have the right kind of insurance if you want to stay in business for a long time. Here is a good example.
Jan loved arts and crafts and after the kids started school, she thought about opening her own craft shop downtown. She talked it over with her husband Fred, and he believed it was a great idea too. Jan asked Fred about retail insurance and he told her to talk to their independent agent. Fred trusted his agent. He knew the man was very knowledgeable on business risk management. Jan went to the agent, laid out her plan, and received a comprehensive policy which fully protected her new business.
Jan got a small business loan and before long her little shop was very popular with the locals. She had no problems for two full years and then things changed. Jan was cleaning the floors one day, when she forgot to put out the "Danger Wet Floors" sign. The phone rang so she went to the back to answer it and a few moments later, a man entered her shop.
The man walked on the wet floor and his feet immediately flew out from under him. In fact, he suffered a broken hip and arm. Jan called an ambulance and felt terrible about the incident.
Jan contacted her insurance professional and he guided her through the claims process. A few weeks later, the agent called Jan to talk to her. He said it was a good thing Jan had taken out extra liability coverage with her retail business insurance, because the man would be unable to work for a very long time. He filed a large claim for disability, lost income, and an enormous bill for medical expenses, including extensive physical therapy. If Jan did not have an experienced insurance specialist on her team, her liability insurance may have been woefully insufficient.
What is Retail Store Insurance?
Retails coverage is made for any business which sells products locally. It covers things like legal liability issues as well as many other hazards retail businesses may face.
Who Should Buy Retail Insurance?
Here are some of the businesses that will benefit from the coverage:
- Florist shops
- Gift stores
- Camera supply stores
- Electronics retailers
- Hardware stores
- Home improvement centers
- Fabric shops
- Video shops
- Repair shops
- Paint stores
- Antique shops
- Drug stores
- Secondhand stores
- Clothing shops
- Specialty boutiques
- Hobby shops
- Convenience stores
- Smoke shops
Standard Retail Business Insurance
Most retail shops will need these basic coverage items with their policies:
- General liability
- Commercial property insurance - if you rent the building you'll want to insure the contents and equipment.
- Worker compensation for your employees
- Business auto insurance - for company cars or businesses that make deliveries
Retail Store Insurance Options
You might want to consider several options depending on your business. For example:
- Equipment breakdown - can include communications systems, computers, AC systems, refrigeration equipment, and security systems
- Earthquake insurance
- Flood and sewer backup coverage
- Loss of income insurance
- Canopy and sign coverage
- Professional liability - this protects your business from claims that you or your people caused damage or personal injury.
Why Spend All Your Time and Resources Looking for Retail Insurance?
Do you have time to check with several insurance companies for the best coverage and lowest rates? Are you trained in business risk management? If not, you should see an independent insurance professional at Charlotte Insurance. We understand the needs of North Carolina retail businesses and we can help you find the right coverage for your operating budget.
Charlotte Insurance has been connecting people with the right insurance for more than twenty years. Your independent agent is there to comparison shop insurance coverage for your business. This is the easiest way to get the best deal for your money, including the lowest premiums and deductibles.
It takes dedication and hard work to run a retail business and many days you might have to put in long hours. When you have a trusted insurance specialist on your side, it's one less thing for you to worry about. Your Charlotte Insurance agent will go over all your risk factors and help you make the right decisions. Plus, if you ever have a claim, there is someone on your side to help you.
Why not come to Charlotte Insurance today and see all that we have to offer? It's so easy to go get a free online quote, just fill out the quote form for a quote proposal.