Banner stores carry a wide range of merchandise and accessories for banners and flags, including state and country flags, decorative flags, custom-made banners, flagpoles, patriotic flags and banners, pennant banners, windmills, wind spinners, and many more items. Banner stores also provide custom work for businesses who need banners for their special events or stores. Risks of a banner store include general liability, theft, shoplifting and a number of other business risks. Protect them with banner store business insurance.
Types of Banner Store Business Insurance
You have multiple coverage options to select from for your banner store, so choose from the following important insurance policies:
One of the most important insurance policies to have for your banner store is general liability because general liability offers protection for three main areas: premises liability, products liability and completed operations. From flagpoles sharp edges to slipping on fallen banners, customers could get injured while on your premises. There is also protection from products liability, which offers coverage if you’re sued for damages from the products you sell.
If you or your employees make banner deliveries, pick up supplies or run other business-related errands, your vehicle needs to be covered by a business auto insurance policy. You can choose your type of coverage, such as liability or full coverage which can include theft and vandalism as well. That way if your vehicle is vandalized while parked in a parking lot, you have protection for the repairs.
Unexpected events, like fire, flood, extreme weather or natural disasters, could occur at any time. There are few preparations you can make, and many of them come with no warning. You need to have business property insurance in order to protect your business income. These events not only cause damage to your property, but the contents as well. The insurance policy offers help repairing your store and replacing items that were destroyed.
Many banner stores also run an online shop, which means you should have cyber liability insurance as part of your banner store business insurance package. This policy protects you from cyber crimes, such as a hacker getting access to your or your customer’s personal information, getting a virus on your website, or a customer paying for goods with a stolen credit card. It keeps you from losing business income as a result of the cyber crimes.
If you have even one banner store employee, they should be protected by a workers’ compensation insurance policy. This policy offers coverage for medical costs and lost income if a worker is injured while on the job This could be from a slip or fall, illness from chemicals used while making custom-made banners, or a repetitive motion injury like wrist or back pain. As long as you have workers’ comp insurance these types of claims will be covered by insurance.
Banner Store Crime Insurance
Banner stores run the risk of crimes like theft, shoplifting and vandalism, even though you may have surveillance equipment and security. Employees, customers and passersby all pose risk of crimes to be committed, which you would be responsible for. However with a crime insurance policy, you can rest easy knowing you have additional protection for these crimes.
Take your time when choosing which banner store business insurance policies will benefit you the most. Be sure to cover all your risks, not just the most probably but for unexpected events as well.