Vacuum cleaner stores not only carry vacuum cleaners for sale, but also sell parts and accessories, and repair broken vacuums. As the owner of a vacuum cleaner store, you might sell only new, used or a combination of both. Your risks are that of shoplifting, theft, product liability, and more. Protect these and other risks with vacuum cleaner store business insurance.
Types of Vacuum Cleaner Store Insurance
There are several types of vacuum cleaner store insurance policies, each of which will cover a different risk. Choose from the following important insurance policies:
General liability is one of the most important insurance policies to have for your vacuum cleaner store. If a customer visits your store and trips over a vacuum in the aisle-way, their injuries are covered by the general liability policy. Aside from premises liability, you also get coverage for product liability and completed operations Completed operations protects against any legal claims of damage for the services you provide, such as repairing a vacuum that later malfunctions.
Product liability is an important vacuum cleaner store insurance to have, as the vacuums you sell could cause damage. For example, a customer that buys a refurbished vacuum cleaner that damages her carpets, can be your responsibility. After being sued for damages, product liability will cover these legal costs so you’re not suffering financially as a result of the products you sell. Products liability will generally be included in your general liability policy.
Business auto insurance is an essential policy if you’re using a personal vehicle for business purposes. Whether it’s deliver vacuum cleaners purchased to your customers or go to the bank on business,, these are business trips and need to be covered by business auto. Business auto insurance typically covers bodily injury, property damage, theft and vandalism.
Unexpected events occur with little to no warning, putting your business and contents at risk. With business property insurance, you can’t always avert these events, but you can at least get help with repairs and replacing items that were destroyed. Business property covers events like natural disasters, flood, fire and extreme weather damage.
If you have an online store where you sell vacuum cleaners or advertise repair services, it should be covered with a cyber liability insurance policy. Cyber crimes are a significant risk for any type of website, and the smallest virus or amount of fraud could be disastrous for your vacuum cleaner business. Protect your business income and assets with a cyber liability insurance policy.
You should have workers’ compensation insurance, if you have employees working for your vacuum cleaner store as workers’ comp is for work-related injuries and illnesses. With a vacuum cleaner store, your employees risk injuries while repairing vacuum cleaners and from lifting the heavy machines. If a worker is injured, workers’ comp will pay for their medical costs, recovery costs and lost income if they need to stay out of work for an extended period of time.
Vacuum cleaner stores have a wide range of risks, with theft and shoplifting being some of the biggest risks. You may get merchandise or tools stolen from your store, experience fraud, or employee dishonesty like embezzling money if they handle your accounting and bookkeeping. Protect your business from these risks with a crime insurance policy.
Now that you know of the most important insurance policies, you can choose those that will cover your biggest risks. A combination of vacuum cleaner store insurance policies is the best way to get adequate protection of your vacuum cleaner shop.