Soccer stores are responsible for selling everything someone would need to play soccer, whether as a hobby or professionally. This includes clothing, protective gear, soccer balls and goals, shoes, bags and oftentimes team jerseys as well. Accessories might also be available, including blankets, gifts, jewelry and watches. If you run a soccer store, protect it with business insurance. You are at risk for a number of events that could cause loss or damage, ranging from theft and shoplifting, to the elements causing damage to your store.
Types of Soccer Store Insurance
These are the most important business insurance policies to consider for your soccer store. You will notice a wide range of policies for a variety of risks.
A general liability policy is among the soccer store insurance policies to consider right up front. It includes premises liability, products liability and completed operations. As an illustration: suppose you provide custom-made jerseys or other services, any damage or loss caused by those services is covered by completed operations. Premises liability is for any damage or injuries occurring on your premises, whether in the store or just outside of it. If the sign on the front of your store falls as a customer is leaving the store, any injury it caused them is your responsibility. But general liability will cover the medical and legal costs.
Business auto insurance is a commercial policy for any vehicle you drive for business errands. If you or an employee is driving to the bank for a deposit and get hit by another vehicle, the bodily injuries or damage to your car is covered by business auto insurance. You can also choose to get theft and vandalism coverage.
Unexpected events like natural disasters, fire, flood or extreme weather conditions cause damage to your store and contents. If this occurs, it means significant loss of funds and products. If you have business property insurance as part of your soccer store insurance portfolio, the policy helps replace items that were destroyed and any repairs that need to be completed.
Cyber crimes are a persistent risk, even after getting the right types of protection on your website. Your online soccer store needs additional protection from things like spyware, viruses, hackers or fraudulent activity with your online store. Cyber liability insurance is important for protection of your customers as well, because these cyber crimes could mean stealing their personal or financial information.
Most states in the U.S. require worker’s compensation insurance for all employees. It covers medical costs for work-related injuries or illness. If an employee is in the warehouse putting boxes on the shelf and soccer balls fall down, causing them to trip and break an ankle, worker’s comp helps cover the resulting medical costs and lost wages.
Soccer Store Crime Insurance
Another insurance policy to get for your soccer store is a crime insurance policy. Crime insurance protects you from various crimes, including theft, vandalism, shoplifting, and dishonest employees. If you have a customer who is purchasing soccer equipment and they have friends stealing team jerseys from your store, you lose assets from all the products they stole. Crime insurance helps cover the loss.
While you can’t prevent things like fire, natural disasters or shoplifting, you can protect your business assets with soccer store insurance. Keep in mind your wide range of risks and get insurance to cover each of those risks.