Home furnishing stores are attractive and elegant places. As an owner of this type of store, you likely have a great deal of expensive inventory on hand to appeal to your customers.
You don’t want to have to begin worrying about having to manage financial difficulties involved with replacing lost or damaged inventory due to unexpected events. There are multiple types of commercial insurance options out there that can protect your furniture business and meet your specific business needs.
Being the owner of a furniture store can be a profitable and appealing career. If you are passionate in home design or furniture in general, this type of business is beneficial. However, with this type of store, there does come a certain responsibility that you have in protecting your investment with insurance. Just as important as choosing the location of your furniture business, the inventory and hiring employees, is home furnishing stores insurance.
The right types of business insurance policies will cover the risks you face including possible employee or customer injury from your store’s furniture, theft, legal liability claims, and property damage from fire, extreme weather conditions or natural disasters.
Any furniture store owner who has already experienced problems like these will vouch for the importance of carrying the right insurance coverage. Different coverages could include:
- General Liability
- Loss of Income
- Worker’s Compensation
- Auto Insurance
- Identity Theft
- Valuable Papers
In addition to these types of home furnishing store insurance options, another important type of insurance is a bond. Surety bonds guarantee that you will follow terms of binding contracts you sign when delivering your products. For instance, if you sign a contract to furnish someone’s home or an office building and the supplier doesn’t deliver on time, you are not honoring your contract. Your customers get paid through surety bonds for any loss or damage through you not being able to fulfill the terms of the contract.
When you have the proper home furnishing store insurance in place, you can avoid serious financial loss as a result of a catastrophic event or lawsuit.
Contact us here at BOLT Insurance Agency (1-800-216-4171) to get informed of the type of insurance that is recommended for your furniture business so you can put this insurance in place right away. You don’t want to be stuck without the right type of insurance in the event of an unfortunate situation that could leave you vulnerable to financial loss.