Picture and framing stores sell items for framing, such as picture frames, wall hooks and other hardware, matting, and even craft supplies to decorate frames. They also provide framing services for large, oddly shaped, and professional pictures and artwork. Owning a picture and framing store can be a rewarding business, but also one that poses a variety of risk. You risk customers not paying for framing if you charge after the work is done, shoplifting, and theft, as are injuries to customers and employees while in the store. Business insurance for picture and framing stores is available for these and other risks.
Types of Picture & Framing Store Insurance
As there is more than one risk to contend with, you should have more than one insurance policy to cover those risks. The following insurance policies are ideal for picture and framing stores:
General liability is one of the most basic types of business insurance, but also one of the most extensive. Because your picture frame store is at risk of liabilities relating to customers injuring themselves while in your store, it’s important to seriously consider this type of picture & framing store insurance. As an example: if a customer was looking at frames and cut herself on a sharp edge, you could be liable for their medical costs. General liability covers bodily injury, along with products liability and completed operations.
Every time you use a vehicle for picking up supplies, making deliveries, or going to the bank for your business, you should be covered by business auto insurance. This will provide coverage for business-related errands and protect you against damage caused by a collision. Not only will you get coverage for vehicle damage and bodily injury, but you can choose to add theft and vandalism to the policy.
Your business property is also at risk for damage, which includes the store and contents as well. Should an unexpected event occur, like fire, natural disaster, or extreme weather conditions, it could cause severe damage to the shop and destroy a good amount of your picture frames and supplies inside. Business property insurance offers excellent coverage against these types of events.
Many picture and framing stores sell items or services online, and if this is true for your shop, you should have cyber liability insurance. It is specifically built around cyber crimes like someone stealing your personal information or causing a virus on your website. These crimes are sometimes unavoidable, but with cyber liability insurance, you can recover from the loss.
Your picture and framing store poses a risk for employees well-being, especially those doing custom framing. This job requires the use of sharp objects like razors, knives, and screwdrivers. If an employee were to suffer an injury as a result of a job-related task and had worker’s compensation, the policy would pay for medical costs, doctor visits, and the recovery period. You would also avoid paying significant damages from a lawsuit as a result of the injury to your employee.
Picture & Framing Store Crime Insurance
Crime insurance is an important policy to have when you operate a picture and framing shop. Since you’re at risk for shoplifting, the policy is ideal for covering the loss of stolen items. It will also offer protection from other crimes such as theft, embezzlement, and vandalism to your store or items.
You should take proper steps to protect your business from risks, but this won’t always prevent certain events from taking place. Get optimal coverage with picture & framing store insurance policies to cover the myriad of risks you’re exposed to.