Q: What kinds of business insurance should retail stores consider?
A: Retail business insurance (sometimes called store insurance) is a general term that refers to a number of insurance policies retailers can get to protect their store from the cost of lawsuits, theft, and other financial disasters.
Which policies should you consider? It depends on the specifics of your store, but here are some of the basic business insurance policies that often make sense for retailers:
Some retailers may have specialty coverage needs. For instance, because of the high value of their inventory, jewelers can invest in Jewelers Block Insurance to cover expensive rings, necklaces, and other fine jewelry. A store that runs a delivery service may want to consider Commercial Auto Coverage in case one of their drivers is in an accident.
We recommend talking with an insurance agent who knows the retail industry and can help you sort out your coverage options and make sure you're getting policies that are designed to cover retailers.