Piano and organ stores not only carry these instruments, but accessories for them as well. This includes selling a variety of pianos and organs, new and vintage styles, along with other essential items like stools, sheet music, instructional books, CDs and DVDs for instruction, keyboards, cables, benches and software. Many piano and organ stores also provide private lessons and have recitals. As a piano and organ store business owner, your risks range from liabilities for customers of your store, to potential damage from the products you sell. Protect your store from such risks with proper business insurance.
Types of Piano and Organ Store Business Insurance
The following insurance policies will protect your piano and organ store. These business insurance policies are intended to cover your primary risks.
Because your piano and organ store is visited by customers, one of the most important business insurance policies for you is general liability. Since you sell heavy pianos and organs, injury is very possible, therefore making this coverage essential. General liability is meant to protect your business from claims made by outside third parties. Whether the injury is your fault or not, your general liability policy covers claims relating to defense costs and damages described in your policy. Completed operations is for the services you provide, such as being sued following custom work on the pianos.
Whether you’re making deliveries of pianos and organs or visiting the post office, you should always have business auto insurance. An accident could mean bodily injury, property or vehicle damage, and possible sufficient damage to the piano in your van. Get protection from these risks with a commercial auto insurance policy. It includes coverage for your vehicle and bodily injuries, as well as other vehicles involved.
Business property insurance is another important policy to have when considering piano and organ store business insurance. If there is damage to your property, like from unexpected events, natural disasters and extreme weather, your dwelling and expensive pianos and organs could be destroyed. Pianos and organs don’t survive extreme water or fire damage, therefore making it extremely essential to have business property insurance. If your store experiences a fire for example, the policy helps replace destroyed items.
If you sell pianos, organs or accessories online, you should also have protection from a cyber liability insurance policy. Cyber crimes are an unfortunate risk you have with any website or online store. Fraudulent activity online is common, even when you have made all the right security precautions. This protects your business, as well as lawsuits if a customer’s financial information is affected by the cyber crimes.
Most state laws require all employees to be covered by workers’ compensation. Not only is it required in most states of the US, but it helps to protect your employees. Your employees are handling very large and heavy pianos and organs, therefore putting them at risk for injury. Back and shoulder injuries are common in this profession, and workers’ compensation will cover any medical and recovery costs associated with the injury.
Piano and Organ Store Crime Insurance
A crime insurance policy is needed as part of your piano and organ store business insurance portfolio even if you have security in your store, like surveillance cameras. Theft, shoplifting and vandalism are all possible. While a customer isn’t going to walk out the door with a piano, they could steal any of your accessories, or vandalize the store in the middle of the night. With such expensive equipment, crime insurance is the best way to truly protect you from potential financial loss if you experience theft. It will also cover any employee-related crimes, like embezzling money from your store.
When choosing the right types of business insurance for your piano and organ store, consider your biggest risks, plus those that might be less common. This lets you protect accidents, damage, injuries and crimes that you are susceptible to.