Protect your retail store with the right commercial insurance 

With every business comes the necessity to ensure it is protected. Retailers can lose millions due to shoplifting, employee theft, and break-ins alone. As a business owner or manager, you know well enough that risks are everywhere, and that at any moment, something you least expect can happen. Luckily, there’s an insurance policy that can help cover those unfortunate incidents and provide you with peace of mind and financial security. 

Specific commercial insurance coverages to consider to help protect your business include: 

Commercial Property Insurance 

Commercial property insurance is meant to help you cover the physical assets of a retail business or company. This can include protection for buildings, factories, or even offices against loss or damage. Any business that owns significant assets should greatly consider this type of insurance as it can be extremely valuable. Damages that result from fire, storms, theft or other events can be covered through this insurance.  

Being prepared with overall damage protection for your retail business can help with other things that can often be overlooked such as fire and smoke exposure in the unfortunate event of electrical issues or even neighbouring fire. Other property damage could include water damage from burst pipes, floods or leaks that affect any of your furniture, products or stock, as well as vandalism including graffiti, broken windows, or wreckage to your store displays.  

General Liability Insurance 

General liability insurance can help to protect your business from a broad range of liabilities. Some could include accidents and injuries that happen on your business property or due to your company operations. It’s important to note that general liability insurance for commercial businesses does not cover employee injuries or auto accidents.  

Business Interruption Insurance 

Business interruption insurance is designed to assist in compensating for lost income in the event that a business needs to halt operations for a temporary time frame. This can help to cover business expenses such as rent, salaries, and loans until normal operations can resume.  

Having proper commercial insurance in place for your retail business can help to ensure that not only your store, but also your inventory and finances are all protected against theft, damage, and liability. Contact your insurance broker at Sutherland Insurance to review your current policy or receive your free quote to ensure you have everything you need covered to provide you with peace of mind for your store’s specific needs. 

The tips provided in this article are for general informational purposes only and do not constitute professional advice.