A bath shop sells a luxurious bath and body products including lotion, soaps, bubble bath, bath salts, aromatherapy candles, fragrances, bath and shower gel, and more. Many bath shops also sell accessories for a bathroom like shower curtains, rugs or mats, storage containers, toothbrush holders, decorative items, trash cans, bath towels and other similar items. Owning and operating a bath shop can be a gainful and worthwhile profession, but you are also open to a variety of risks. Due to the nature of your products, injuries can occur in your store, such as a bottle of bubble bath that spills causing a customer to slip and fall. This type of accident could result in a lawsuit for damages. These and other risks should always be covered by bath shop insurance.
Types of Bath Shop Insurance
There are many different types of bath shop insurance policies, each of which will cover a different risk exposure. Take some time to learn about each one before deciding which will benefit you in the long run. Depending on your particular bath shop business, you may need additional types of business insurance to be adequately covered.
General liability is often the first choice for many businesses, including bath and body shops. General liability insurance covers many different risks, including completed operations, product liability and premises liability. For example, if your bath shop customer purchases a certain type of body lotion that gives her hives; she can turn around and sue you for damages. General liability covers this lawsuit and associated costs under Products Liability.
Another common type of business insurance for shops selling bath products is property insurance. This type of insurance will cover any type of risk involved in your store property, such as damage caused by a flood, fire, natural disaster, or extreme weather conditions. Take this for instance: if there is a nearby forest fire that reaches your store, it can cause considerable damage to the property and contents. Property insurance will help you pay for replacing any body and bath shop merchandise destroyed during the fire as well as repairing property damage.
A slew of crimes may exist in a bath and body products shop, including employee theft, theft from a passerby, and shoplifting. Vandalism is also another crime risk you have to contend with. While you have taken necessary precautions, such as running background checks on employees before hiring them and setting up surveillance equipment, crimes can still occur. Protect your business from this type of risk exposure by obtaining crime insurance.
As the owner of a shop selling bath and body products, you most likely use a vehicle for business purposes. Whether it is to make deliveries, drop off nightly bank deposits, or pick up supplies, your vehicle should be covered by commercial auto insurance. Commercial auto, also referred to as business auto, is designed specifically for a vehicle used for business errands and will cover a variety of risks including theft, vandalism, bodily and property injury caused by any vehicle accident.
In your bath products shop, you have a cash register and electronic credit card machine. If one of these machines break down, how will you replace them and what will your business do in the meantime? If you have a small shop you might have just one cash register, so if it broke down you couldn’t perform normal operations. Equipment breakdown insurance not only covers repairs and replacements of equipment such as cash registers and credit card machines, but it also covers business expenses lost as a result of the equipment breakdown.
The liability policies for your Bath Shop business (General Liability, Commercial Auto, and Employers Liability) all have coverage limits. Umbrella liability insurance therefore is used to increase your liability limits for all of these risks under one policy to protect your business for claims that exceed your primary policy limits
The last main type of insurance policy for bath shops is worker’s compensation. If you have even one employee, you need workers compensation. This type of insurance is beneficial to your employees and your business. If an employee suffers an injury at work, such as a back injury while lifting boxes of heavy fragrance bottles, their injuries and missed work will be covered by worker’s comp. Your business will also not be sued by the work-related injury.
Shops carrying bath and body products can be enjoyable to own and operate knowing that your customers are often purchasing your products to treat themselves or loved ones. That said; don’t forget about the potential risks of your business. Consider what risks your bath shop is exposed to and be sure to cover each with the right kinds of business insurance.