You likely have a great deal of money invested in your brick and mortar store location, including product inventory, displays, point-of-sale terminals and other office and administrative equipment. Damage from severe weather, electrical outages, fire, break-ins, and vandalism could severely impact your business, ruining its chances for survival.
Apart from your business property and products, its most valuable asset is your expertise and that of your staff. If people can’t perform due to health or injury, your business may suffer.
- Business Property Insurance can help you cover damages to your building and furnishings, as well as your products, computers, point-of-sale terminals and the other equipment you need to keep your retail shop up and running.
- Business Income Coverage can help cover the loss of income due to covered property damage caused by an unexpected event, such as a fire. It can also help you meet ongoing financial obligations, such as rent and payroll, if you have to close temporarily.
- Most states require that businesses offer workers’ compensation insurance to their employees. This type of insurance pays wages and medical care for employees injured on the job – in exchange for agreeing not to sue their employer.