Greeting card stores not only sell nearly every type of greeting card imaginable, but a number of different gifts as well. This includes cards for birthdays, graduations and other holidays, stationery, envelopes, thank you cards, gift wrap, jewelry, key chains, stuffed animals, flowers, and much more. The risks inherent in operating a greeting card store range from crimes like theft and shoplifting, to everyday business risks such as injuries occurring in the store, or damage being done to the property. Protect these risks with greeting card store insurance.
Types of Greeting Card Store Insurance
There are a variety of insurance policies available for greeting cards, including the following:
General liability insurance is your go-to first policy for your greeting card store. It includes protection from three basic liabilities: premises liability, products liability, and completed operations. Premises liability is for any injuries your customers sustain while on your business property. These include such injuries as a customer being cut from a sharp edge an item you are selling. Products liability is from damages due to the products you sell, like a pen you sold a customer that leaked and ruined their purse or clothing items.
If you or any of your greeting card store employees use their own vehicle for business errands, you should protect your finances with business auto insurance. This is an auto policy that typically includes property and vehicle protection, bodily injury coverage, and sometimes theft and vandalism as well. If your employee is going to the bank, and gets into an accident, the insurance policy covers repairs to the vehicle and any bodily injuries from the employee and others involved.
Your business property is essential for running your business, therefore it should always be protected. Business property insurance is going to provide coverage for the building and contents. It protects you from a variety of unexpected events like fire, natural disasters and extreme weather conditions. For example, fire can destroy the property and contents. With business property insurance, you can make necessary repairs and replace your greeting card store merchandise that can’t be salvaged.
If you sell greeting cards and gifts from an online store, it should have a unique policy specifically for your online shop, called cyber liability insurance. This type of greeting card store insurance policy is readily available due to the many cyber crimes risking your business. Cyber crimes include any type of fraudulent activity or causing viruses on your website. The policy protects your business, reputation and your customers.
Your employees should also have protection in the form of worker’s compensation insurance. Worker’s comp covers any medical costs related to a work-related injury or illness. At a greeting card store, this could be from stocking shelves, opening boxes with a sharp box cutter, or repetitive motion for the cashiers. If an employee gets injured, workers’ compensation pays for all medical and recovery costs, and lost income while they are recovering from their injury.
Greeting Card Store Crime Insurance
One of the biggest risks of owning and operating a greeting card store is that of theft or shoplifting. These crimes, and vandalism or dishonest employee practices, are protected by crime insurance. That way, if merchandise is stolen or an employee embezzles money from your store, your business finances are protected from the impending loss.
After working hard to build up your reputation and open a greeting card store others enjoy, the last thing you want to do is lose it because of a crime or unexpected event. Avoid this by choosing from these essential greeting card store insurance policies.