Who needs retail insurance?
- Storefront shops
- E-commerce/online stores
- Grocery, supermarkets, and specialty food stores
- Florists and flower shops
- Cannabis retailers
Do I need business interruption coverage?
Business Interruption Coverage might be a good option for your retail business if you could not operate due to an insured claim like a fire. This coverage provides financial compensation for lost income (like overhead costs and staff wages) during the time it takes to restore your operations.
Do changes to my business operations affect my insurance policy?
Absolutely. You should discuss any changes that can affect the value of your business with your broker. Otherwise, you may find yourself with inadequate coverage limits or bearing the financial burden of uninsured claims. These types of changes may include renovating your business premises, changing the business’s ownership structure, or offering new products or services.
Do I need insurance if my landlord insures the building?
You sure do. Your landlord insures the building itself. As a business owner, you’ll want to make sure your own third-party liability for property damage and/or bodily injury is covered for your operations on the premises. You may also consider added coverage for your business property and inventory, cyber liability insurance, and product liability insurance.
Questions? Let us help you.
Speak with a broker to learn more about retail insurance.613-526-1184