Stores selling tea supplies carry an assortment of tea and coffee types, along with many of the supplies you need for making and displaying your tea. This includes tea cups, tea kettles, coffee mugs, sugar cubes, snacks and treats, coffee grinders, and often times other types of drinks such as juice, hot cocoa, and apple cider. Naturally, shoplifting and theft are among your biggest risks when owning a brick and mortar tea supply store. Aside from those, you’re at risk of injuries occurring in your store and damage to your delicate items. Continue reading for the best selection of tea supplies store insurance available.
Types of Tea Supplies Store Insurance
The following types of insurance policies are the most important to choose from for protecting your tea supply store:
To protect your tea supply store from injuries that happen inside your store, purchase general liability insurance. This is often the first business insurance policy tea supply store owners purchase due to this extensive coverage. You will get coverage for customers who injure themselves in your store as well as coverage for products liability and completed operations. If boxes are left in the aisle and a customer trips over a box and suffers a severe injury, the medical costs will be covered by general liability insurance. Likewise, if you serve hot tea and coffee in the store that is too hot and burns the customer, you could get sued for damages; general liability also covers this type of liability.
Products liability can be included in your general liability insurance policy. Products liability is for protection against damages caused by the products you sell. For example, a coffee grinder could be defective and cause an injury to your customer after they purchase it and bring it home. You’re responsible for the damages caused but product liability insurance will cover the medical costs or cost of damages.
If you or an employee use a vehicle for business errands like making deliveries or picking up more merchandise, you should be covered by a business auto insurance policy. It covers bodily injury and car damage after collisions along with theft and sometimes vandalism if you choose this option.
Tea supply stores are susceptible to damage caused by unexpected events, especially in the case of a fire. If you operate a kitchen in your tea store, you’re at an even higher risk. Other unexpected events could also cause damage like natural disasters, flood, or extreme weather. Business property insurance offers protection from damage caused by these events and will help with repairs to the shop and replacing damaged items.
No doubt that you also sell, or plan to sell, your tea, coffee and supplies in an online store. For this reason, you should obtain coverage with cyber liability insurance. Cyber crimes are very common and can happen when you least expect it. This includes forging payment to virtually steal items, hack into your website, or steal customer financial information. Cyber liability insurance will protect your tea supplies online store if any of this was to happen.
Along with protecting your business, employees should also get adequate protection. Worker’s compensation offers coverage for any work-related injuries, which typically covers doctor and hospital visits, medical costs, and income for missed work after a certain period of time. When working with very hot liquids, injury is a common risk for tea supplies stores that also serve hot tea to customers. Worker’s comp ensures your employee’s protection.
Tea Supplies Store Crime Insurance
You are at risk for a bevy of crimes committed by employees and customers. This includes shoplifting, theft, embezzlement, and vandalism. After making sure you protect your store the best way you can, you should also get a crime insurance policy for extra coverage.
Now that you know of the types of tea supplies insurance policies to choose from, you will be better equipped with making the right decision for your business. Protect your tea supplies store you have worked so hard to build with extensive insurance coverage.