Sheer and blackout curtains, patterned or solid-color drapery sets, valances, shades and accessories like drapery rods, tension rods, and curtain hooks are just a small subset of the array of home décor items related to window treatments that Drapery and curtain stores sell. As a retail store, one of your biggest risks is that of shoplifting and theft from customers and dishonest employees. You also have the risk of damage to your building and contents from unexpected events like fire, flood, or extreme weather conditions. To protect these risks, you should purchase a an adequate portfolio of business insurance policies.
Types of Drapery and Curtain Store Insurance
Since there are a variety of risks to your drapery store, you should also have multiple types of insurance policies to get the right amount of coverage.
General liability is considered a traditional business insurance policy as it is often the first policy purchased. With general liability you get a wide amount of coverage from potential lawsuits in regard to injuries or damages caused to your customers. Consider this example: if a customer is visiting your store and trips over a slippery sheer curtain that has fallen to the floor, the customer could be injured and sue you for damages. With general liability insurance, your drapery and curtain store has proper coverage against these costs and any pending lawsuit.
If you or your employees use vehicles for business purposes, those vehicles should have proper insurance. In this case, it will be a business auto insurance policy. Business auto is a commercial policy that covers you in the event of an accident, theft, or vandalism while on a business errand. For instance, an employee may be picking up a new sign for your store and get into a collision with another vehicle along the way. Any damages to the employee’s vehicle or the other vehicle involved would be covered by the auto insurance policy.
Business property insurance is essential for your drapery and curtain store insurance portfolio. Many of your curtains and draperies are made of flammable material, and due to the sensitive materials involved, could be destroyed very easily. Unexpected events like extreme weather conditions or fire could quickly ruin all your merchandise. Business property insurance will offer coverage for these occurrences along with repairs of any damage to your property itself.
If your drapery and curtain store sells items online, you should get a cyber liability insurance policy. This type of policy offers protection against cyber crimes, such as stealing sensitive data, forging payments to receive items they didn’t really pay for, or hacking into your website. If any of these occurs, the loss it causes will be covered by the cyber liability policy.
You should not only protect your business, but your employees as well. Worker’s compensation will offer coverage to employees if they get a work-related injury or illness. At a drapery store, the injury could be from lifting heavy boxes and suffering a back injury, tripping over something on the floor and spraining an ankle, or falling off a ladder when hanging display curtains in the store. If an employee gets an injury from a work-related task, her medical costs and lost income will be covered by worker’s compensation.
One of your biggest risks to contend with is that of shoplifting or theft. This can occur from an employee or a customer and you should have crime insurance to cover these and other crimes. Not only does crime insurance help cover the loss from theft or shoplifting, but also from embezzlement or vandalism.
Curtain stores are at risk for everything from shoplifting to fire damage and should therefore be protected. Drapery and curtain store insurance offers protection for your company, store, customers, and employees.