Typically set up in the hallway or in front of various retail stores, mall kiosks
provide a more compact way to sell products inside of a shopping mall. A variety
of products may be sold in a kiosk including shoes, clothing, jewelry, food, women’s
accessories, or a number of other items. By choosing a mall kiosk, operators have
the chance to sell their goods without the need for a retail store in the mall,
which comes with much higher costs and risks. While the mall kiosk is more convenient
for many individuals, it also comes with its own set of risk exposures. In order
to protect your business from financial loss associated with these risks, obtaining
the right mall kiosk insurance coverage is essential. The following is a list of
the most important insurance policies for mall kiosks:
Types of Mall Kiosk Insurance
A variety of types of mall kiosk insurance exists to protect your business from
every potential risk you can imagine. This includes employee dishonesty, damages
to your equipment, physical harm to employees or customers, and a number of other
General liability insurance covers a variety of risk exposures that may occur while
operating your mall kiosk and lead to income loss or financial burden from covering
legal or medical costs. For example, if your customer is visiting your kiosk and
due to structure malfunction, has a heavy object fall on them, they can sue you
for medical costs and other damages. General liability insurance offers you financial
protection against the lawsuit.
Mall Kiosk Business Owners Policy
A business owners policy, commonly referred to as a BOP, is a package policy that
combines general liability insurance with other types of policies. You can choose
various types of coverage for the potential risks of your mall kiosk, such as protecting
against equipment malfunction or data loss.
- Buildings and Content Coverage – Mall kiosk equipment and supplies may getdamaged from a variety of risk exposures inside the mall dwelling which will requireadditional protection. Damages can occur if an accident or disaster affects thebuilding structure such as a fire, flood, or natural disaster which buildings andcontent coverage will help to protect.
- Equipment Breakdown Coverage – Equipment breakdown coverage protects yourbusiness from losses associated with your equipment malfunctioning. Electric malfunctionis common hazard of computerized cash registers used in mall kiosks, which putsyou at risk for losing money when they need to be repaired or replaced; equipmentbreakdown coverage helps you cover these costs.
- Business Income and Extra Expense – Your mall kiosk may need to shut downtemporarily following an accident that damaged your equipment or supplies. In thiscase, business income and extra expense will cover the loss of business income whileyou are unable to operate your kiosk as well as additional expenses from relocating.
- Valuable Papers Insurance Coverage – As part of your BOP coverage, valuablepapers insurance coverage exists to cover important paperwork and files you keepfor your business. This may include contracts with clients who provide suppliesfor your kiosk, employee paperwork, or additional business papers.
- Electronic Data Coverage – If you keep important data and files for yourmall kiosk business, you should protect these files with electronic data coverage.Damage can occur to your files or the computer that is holding the data which isexpensive to repair or replace. Electronic data coverage will help pay for replacingyour lost data.
- Employee Dishonesty Coverage – Employee dishonesty acts such as fraudulentactivity, theft, or other actions can harm your business and cause financial burdenas a result. Employee dishonesty coverage provides protection against such risks.
Mall Kiosk Business Auto Insurance
If you use a vehicle for business purposes, such as picking up supplies for stocking
your mall kiosk, or moving the kiosk to different malls in your city, you will need
business auto insurance as a part of your mall kiosk insurance portfolio. Accidents
that occur while driving the vehicle for business-related tasks can be covered by
business auto insurance, which includes damage to the vehicle and driver injury.
Mall kiosks, as with any other business in the US, are required to carry workers
compensation insurance if they have at least one employee. While your employee is
working at the kiosk, they may have an accident that leads to an injury and workers
compensation insurance covers the medical costs and loss of income if they have
to take time off work.
Owning and operating a mall kiosk can be a lucrative business and should therefore
be protected with adequate insurance for the variety of risk exposures that exist
for this type of business. Think ahead and protect your business from these risks
so that you can continue to operate your kiosk.