A mail box rental and packing box store provides a variety of mailing services and supplies. Not only does this type of store rent out different sizes of post office boxes, but also provides packaging and shipping supplies for purchase. This includes postage stamps, packing boxes, tape, writing tools, envelopes and shipping supplies for small businesses. While it may not seem like that type of business has many risks, it does, including crimes like theft and vandalism, property and general liability risks. Protect these risks with mail box rental and packing box store insurance policies.
Types of Mail Box Rental and Packing Box Store Insurance
Several different policies exist to protect your mail box rental and packing box store. Consider the following important ones:
The first business insurance policy you should seriously consider is general liability. This type of policy is ideal for mailbox rental and packing box stores because it includes different coverages. The three main types of coverage are product liability, premises liability and completed operations. Product liability protects you from any loss or damage caused by the products you sell, such as envelopes that have coating to cause illness for your customers. Premises liability is for any injuries in your store, like large shipping boxes falling off the counter and injuring a customer’s foot. Finally there is completed operations, which is for loss or damage from any services you provide, such as failing to wrap a fragile customer item safely.
If you or your employees use their own vehicle for business errands, you need to have a business auto insurance policy. Business auto is a commercial policy that protects against accidents, theft or vandalism. If you’re in a collision while visiting the bank to make a store deposit, any damage to your vehicle or other vehicles, as well as bodily injuries, are covered by the business auto insurance policy.
You should consider a cyber liability insurance policy if you sell any packaging or shipping products from an online store. Cyber crimes could occur even with excellent security measures, so its best to be prepared for these crimes. A cyber crime could include paying with stolen credit cards, stealing your financial information, or hacking into your website to steal customer’s identities. As part of your mail box rental and packing box store insurance package, cyber liability insurance protects you from such incidents.
Workers’ compensation is a type of insurance policy that is needed for protection of your employees. It covers any work-related injuries or illnesses. With a packing box or mailbox rental store, this could be injury while lifting heavy boxes, getting injured from equipment, or a repetitive motion injury. If your employee is carrying a heavy box that breaks, spilling the contents and breaking his foot, workers’ compensation comes to the rescue to cover the medical costs. It also prevents employees from suing you for damages following a work-related incident.
Mail Box Rental and Packing Box Store Crime Insurance
The last insurance policy you should investigate is a crime insurance policy. This will protect you from the loss after a theft, shoplifting, vandalism, or employee dishonest acts. To illustrate, an employee could embezzle money if she works on your books or accounting, customers may steal supplies from the store, and vandalism could occur in the middle of the night. In addition, some mail box rental and packing box stores are open 24 hours a day, making crime an even bigger risk. All of these crimes cause loss that you have to cover if you’re not protected. With crime insurance, you don’t need to suffer financially as a result.
By protecting your business with these types of insurance policies, you avoid potential financial struggle as a result of incidents you couldn’t predict. Mail box rental and packing store insurance there for the times when you aren’t able to prevent something from occurring, and these policies are the best for mail box rental businesses.