If you own retail stores, you face risks when providing items and products to customers. Retail Insurance helps protect your company from lawsuits, product failures, and other hazards which can cause disruptions to the day-to-day operations of your shop. A complete retail insurance plan protects your business by covering items such as merchandise, software, liabilities, and more. If you don’t have a physical address, various insurance options are available to online shops and online-based businesses.
We Collaborate with a Wide Range of Retail Establishments.
- Clothing stores
- Furniture and home decor stores
- Stores that sell antique and vintage items
- Boutiques selling gifts
- Hardware stores
- Bakery shops selling baked goods
- Food stores that specialize in specialty foods
- Cannabis retail stores
- E-commerce companies
- Electronic and computer shops
What Kinds of Insurance Do Retail Establishments Require?
There are a variety of policies that could assist in protecting your business based on your specific requirements. Combining some of these policies could make up the basis of your Retail Insurance package and provide the most comprehensive protection for your shop’s retail operations. It is not a complete list of types of Insurance. Therefore, consult an insurance agent who can make an insurance plan specifically tailored to your needs.
Commercial General Liability (CGL):
This Insurance protects against the risks that are commonplace within your retail store. It protects your business from the possibility of bodily injury from a third party or property damage in or in your retail establishment’s vicinity.
Commercial Property Insurance:
It will protect your property and belongings (including inventory and other items) in a covered loss, such as theft, fire, or damage from water.
Products Liability Insurance:
It protects your company from claims for injuries or property damage from a product you offer, distribute or manufacture. These claims could arise because of a flaw in marketing your product, design, or manufacturing, such as faulty or inadequate labeling.
Cyber Insurance:
Suppose your retail store utilizes any technology like a POS system, a website, or an inventory control system. In that case, you’re vulnerable to cyber-related liability risks. The most important thing you do not want is a cyber-attack that leaks your customer data. Cyber Insurance can protect you from cyber-attacks.
Crime:
Theft, burglary, and theft of securities and money by third parties are all covered. It safeguards your business from employee embezzlement, theft, and forgery. It can purchase separately or as part of commercial insurance coverage.
Commercial Auto:
Our agents can help you determine whether to include commercial auto insurance in your policy if you use a vehicle to transport goods for your business.
Business Interruptions:
Business Interruption will cover the loss of revenue incurred when regular business operations get disrupted or halted altogether. The interruption or damage has to occur as directly resulting from an insured cause of loss that is the same factors that cause loss within the Commercial Property policy. It must be apparent damages to the physical structure of your company’s property for it to get considered.
Retail Store Insurance helps your business recover from unexpected incidents and losses that could cause financial hardship and hinder your ability to manage your business. Whether you operate an individual stand-alone store or are part of a chain across Ottawa, our experienced agents of Commercial Insurance Ottawa understand the retail industry. They are prepared to help you choose the right insurance policy to meet your requirements. Our online quote form is fast and straightforward. It provides all the necessary information to have your insurance policy in your hands as fast as possible. To start your quote now, Email info@commercialinsuranceottawa.com or call (613) 454-5640.