Fishing equipment stores sell plenty of equipment, supplies and bait an avid angler needs. This includes different types of bait, fishing rods, tackle, nets, and a variety of sporting goods. Many fishing equipment stores also provide repair services on things like fishing rods. Risks of a fishing equipment store include goods being stolen, theft of money, other types of fraudulent activity, and additional liabilities. Protect these risks with fishing equipment store business insurance.
Types of Fishing Equipment Store Insurance
There are a variety of risks exposed to you when you own a fishing equipment store. Protect your store fully by choosing from the following business insurance policies:
General liability is the most basic of insurance policies and should be one of the first you get for your fishing equipment store. General liability includes coverage for premises liability, products liability and completed operations. Premises liability include coverage for any accidents or injuries that occur in your store or just outside on your premises, while products liability offers protection if the products you sell cause loss or injury for the customer.
Business auto insurance is important to have if you or your employees use their own vehicle for business purposes. This could be making a trip to the post office or bank, making deliveries or picking up supplies. With business auto insurance, you have coverage from damage to your vehicle and other property, bodily injury and theft or vandalism if you choose to add this additional coverage.
Unexpected events like fire or natural disasters could cause significant damage to your business property and contents. With a business property insurance as part of your fishing equipment store insurance policy, you have coverage form many of these events so that you get help repairing your store and replacing any contents that were destroyed.
Cyber crimes, like a customer paying with stolen credit cards, cyber criminal hacking into your personal information or stealing customer’s identities is an unfortunate risk of selling products online. You should still get the best security available for your website and customers, but this doesn’t always prevent fraudulent activity from occurring. To avoid paying the legal costs and lost income following one of these events, get a cyber liability insurance policy.
Your employees have a number of risks in the workplace, ranging from potentially injuring themselves when organizing fishing equipment inventory, to back or wrist injuries. Workers’ Compensation offers protection to your employees, as it covers medical costs, recovery costs and provides income protection if they miss work for an extended period of time. All employees should be covered by workers’ compensation.
Fishing Equipment Store Crime Insurance
Crimes like theft, vandalism and fraud are an unfortunate risk of fishing equipment stores. After being sure you have proper security, such as screening employees on recognizing fraudulent payment and running background checks, you should be protecting your business with a crime insurance policy. Not all crimes can be avoided, but with crime insurance, your business income doesn’t suffer as a result of these crimes.
With this selection of fishing equipment store insurance policies, your angler store can be fully protected. Keep in mind your probable risks and those that are less common, being sure to have coverage for both instances.