Camping and outdoor equipment stores carry all different types of supplies and merchandise a customer would need for camping, or general outdoor activities. For camping, this includes tents, stoves, air mattresses and sleeping bags, outdoor showers and backpacks. Additional outdoor equipment ranging from gear for snowboarding and skiing, to hiking and kayaking. As a retail store, one of your biggest risks is that of theft or shoplifting, though many other risks are possible. Protect all of your risks with business insurance.
Types of Camping and Outdoor Equipment Store Insurance
To fully protect your camping and outdoor equipment store, choose from the following essential insurance policies.
The first policy you are advised to obtain for your camping and outdoor equipment store is general liability. This actually includes three areas of coverage: products liability, premises liability and completed operations. Completed operations is for any services you provide finishing or fitting equipment. Products liability offers coverage from any products you sell that might malfunction and cause damage to the customer. Finally, there is premises liability which is coverage for any accidents that might occur in your store.
Business auto insurance is a type of commercial policy that your business should get if anyone makes business-related trips. Things like making deliveries or picking up supplies is considered business-related, and therefore the trips should be covered by a business auto policy. This includes coverage for property damage, bodily injury, and theft if you choose to add it to the policy.
Your business property is essential for running a successful camping store, and unfortunately there are many events that could cause damage. Natural disasters, extreme weather conditions, flood and fire could all cause major damage to your shop and destroy the outdoor equipment within. Business property insurance, however, can help you make the necessary repairs and replace anything that couldn’t be salvaged.
If you have an online camping and outdoor equipment shop, you should also get a cyber liability insurance policy. This will protect you from the loss resulting from cyber crimes like fraudulent activity, viruses of your website and hacking into your information or that of your customers. These cyber crimes cause significant loss, which cyber liability insurance can help with.
Workers’ compensation is in place for your employees, in case they suffer a work-related injury. Large and heavy items could fall off the rack and hit an employee, they could get a wrist, shoulder or back injury from lifting large objects, or could slip and fall and sprain an ankle. All these injuries and others would result in high medical costs and recovery; these are luckily covered by worker’s compensation if the injury came while they were on-the-job.
Camping and Outdoor Equipment Store Crime Insurance
Crime insurance is a type of policy that offers protection from a variety of crimes. Due to your retail camping store, you are at risk of shoplifting of items, embezzlement of money from your employees, and vandalizing of your business property or contents. Crime insurance doesn’t prevent these things from happening, but helps you recover from the loss.
After working hard to start a camping and outdoor equipment store, it would be a shame to lose it from an unexpected event. Prevent this from happening by getting a good combination of camping and outdoor equipment store insurance policies for maximum protection.