Running a tailor shop involves providing altering and repair services for your customers. You may be responsible for altering a wedding dress, repairing a football jersey, or even creating custom clothing for your neighborhood dance team. As a tailor, you have a variety of risks both as a business owner and a professional. Risks include possible theft of clothing that is left in your shop overnight, damage to your building and its contents from fire or flood, and electrical outages that affect your business operations. Protect these and other risks by obtaining tailor shop insurance.
Types of Tailor Shop Insurance
Insurance for tailor shops is wide and varied, with different policies specifically made for different risk exposures. Consider the following tailor shop insurance policies for optimum coverage:
General Liability Insurance
One of the most important tailor shop insurance policies that is available is general liability. This type of insurance policy will offer coverage to your store if a customer was to harm themselves as a result of your products or building issues. If they are harmed on a sharp countertop or from any of the potentially dangerous tools used in tailoring clothing, you could be held responsible. General liability insurance protects you by covering lawsuits, certain damages, and associated medical expenses.
Business Owners Policy
A business owner’s policy, also called a BOP, is a package insurance policy that combines a variety of coverages. This policy can be customized according to your tailor shop’s risk exposure so that each risk is properly covered. You can protect your company by obtaining a BOP with general liability and property insurance and other coverages you deem important
Commercial Auto Insurance
While you may not do a lot of pick-ups or provide delivery services, your tailor shop still needs commercial auto insurance. Any type of vehicle that is used for company purposes, even just to make a daily deposit at the bank, commercial auto insurance provides coverage. This means if you’re dropping off a deposit at the bank and get rear-ended, commercial auto insurance protects you from being financially responsible, whether it is your fault or not.
Business Property Insurance
Another important tailor shop insurance policy is business property insurance. Your tailor shop is prone to theft, fire, flood, natural disasters, and extreme weather conditions. If this was to occur, the building and contents could be destroyed which would cost thousands of dollars or more to repair or replace. These costs would be covered if you have a property insurance policy.
Dishonest employees are an unfortunate occurrence in some businesses, including tailor shops. Protect your business from potential crimes or theft within your store by obtaining crime insurance. It is an important tailor shop business insurance policy to obtain because it protects against crime that might occur in your shop, including theft and damage.
Workers Compensation Insurance
If you have even one employee working for your tailor shop, you should have worker’s compensation insurance. Worker’s comp covers medical treatments and additional costs of work-related illnesses and injuries. Insurance for a tailor shop should always include worker’s compensation, due to the many risks associated with your business such as the use of sewing machines, pins, and scissors.
Tailor shop insurance policies cover most risks of loss, ranging from a car accident with your company car to an employee who is injured on the job. Protect these and more by acquiring proper business insurance.