Why Do Appliance and Electronic Stores Need Insurance

Why Do Appliance and Electronic Stores Need Insurance

Most buildings use appliances of some type or another.  Apartments and homes use stoves, refrigerators, air conditioners and washers and dryers. Churches and government buildings use furnaces and air conditioners (even kitchen appliances in some cases). Then, you have commercial buildings that also use various types of electronics and appliances.

Being the owner of a appliance and electronic store can be a long-term and lucrative venture since your products are in high demand. However, it’s imperative that you protect your business from loss, damage, and other financial hardships by equipping your appliance and electronics store with the right type of insurance.

Types of Insurance

General Liability

This type of insurance protects your appliance and electronic store from general events and risks. It’s a broad type of insurance that you can increase as you need to. It protects your business from risks such as unexpected litigation due to things like advertising mistakes and customer injuries. It includes premises liability, products liability, and completed operations.

Business Owners Insurance

This type of insurance, also known as BOP, includes your general liability and can be customized to suit all your appliance/electronic store needs including:

  • Electronic Data
  • Contents and Buildings
  • Extra Expense and Business Data
  • Constructed or Newly Acquired Buildings
  • Employee Dishonesty

The business owners insurance will provide you will extended coverage for both your intangible and tangible business assets.

Auto Insurance

Your appliance and electronics store needs commercial auto insurance, particularly if you are providing delivery services of your products. Company vehicle repairs are covered through this type of insurance as is auto accidents involving your employees and the vehicles of another person. Recovery expenses and medical bills are also covered in this insurance in the event a person gets injured. There are also other additional types of coverage you can add on to this depending on your auto insurance needs.

Workers’ Compensation

Your employees are taken care of financially through this type of insurance if they get hurt while on the job or experience a job-related illness or accident. Their physical therapy, medical bills and any other type of rehabilitation expenses will be covered.

Commercial Umbrella

This type of insurance is designed to provide your appliance and electronics store with additional protection when you have maxed out your limit that your business insurance policy will cover on claims.

Be sure to contact your independent insurance agent who can assist you in creating the perfect, comprehensive solution for your appliance and electronics store that is tailored for your precise needs.

Do you own or operate an appliance or electronics store? Contact BOLT Insurance Agency for your insurance quote today.