A china and glassware store sells everything from expensive and unique china to traditional glassware products. This includes dishes like plates and bowls, coffee mugs, tea cups, drinking glasses, decorative glassware, pitchers, vases and many other types of china and glassware. As you might guess, one of the main risks of a china and glassware store is that of damage to the products because they are so fragile and breakable. Others include crimes like theft and vandalism, and injury to customers. China and glassware store insurance is therefore necessary to cover such risks.
Types of China and Glassware Store Insurance
Due to the wide range of risks associated with a china and glassware store, there are also a variety of insurance policies. For the best coverage, choose from these policies:
General liability is the most common of insurance policies and the first one you should purchase. It actually includes three areas of coverage, including completed operations, premises liability and product liability. Completed operations is coverage for any services you provide. This may include things like repairing broken china or customizing an item with engraving. If something goes wrong, such as if china is damaged further during the repair process, you are responsible for the damage. General liability covers any resulting legal costs. Premises liability is coverage for injury or loss occurring in your china and glassware store, such as a customer slipping and falling due to a spill that was not cleaned up properly. Product liability, also available under general liability coverage, is intended to cover any damage, loss or injury from the products you sell. So if you sell a glass cup that breaks in the customer’s hands and causes an injury, you’re liable for the medical and legal costs. Product liability will help you to mitigate these costs.
Every time you or an employee uses their own vehicle for business errands, be sure they are covered by business auto insurance. This policy will cover things like bodily injury, property damage and vehicle damage for your car and others involved. It is ideal that you add on theft and vandalism, because expensive china items could be stolen from your vehicle when you’re in the bank or meeting with a vendor.
You are at risk for property damage, which is a considerable risk for you because of the fragile nature of the products you sell. A natural disaster or extreme weather incident could destroy virtually every product in your store. Business property insurance is an essential china and glassware store insurance policy to obtain. If an unexpected event occurs, you get help from the policy in replacing broken items as well as making necessary repairs to the store itself.
Cyber liability insurance is created specifically to protect your business from cyber crimes like spyware, virus and cyber attacks on your website. If you have an online china and glassware shop, you should get this protection because other forms of data protection aren’t always enough. If you experience a virus on your site that steals customer’s financial information, you are liable for their loss. Cyber liability insurance can help cover these costs in accordance with your policy terms.
Workers’ compensation is a requirement in most states, and protects your employees. If one of your staff is injured on the job, such as from hurting their back when lifting a heavy box of glass bowls, their medical costs and missed work is covered by the workers’ compensation policy. It also prevents them from suing you for damages.
China and Glassware Store Crime Insurance
Aside from cyber crimes, your store is at risk for crimes like theft, vandalism and shoplifting. In fact, it can be one of your biggest risks. You carry valuable items, many of which are small enough for shoplifters to steal. You can’t always prevent crimes, even with surveillance equipment and alarms, but you can cover the potential crime costs with crime insurance. This policy also protects you from employee-related crimes like embezzlement.
It isn’t always possible to prevent damage or loss, but with these china and glassware store insurance policies, you can protect your business from the unknown and unexpected. Be sure to cover each of your risk exposures, no matter how common they are.