Insights 101 | The lowdown on flooring & drapery retail
Call it the HGTV Canada effect. Composite wood or sustainable bamboo, wood-like porcelain tiles, patterned concrete as well as 100% natural black-out drapes and window coverings are all trending. It’s good news for the flooring and drapery industries. And it’s great news for retailers that specialize in flooring and drapery.
People want to see, touch and feel the flooring and drapery they buy for their condos, homes, rental properties and cottages. And this is why they want to visit flooring and drapery retail outlets with actual products on display. Whether you sell online or have customers in your showroom, you’re googling “business insurance Canada” to get custom-fit coverage.
We know that time costs money. And we know it takes a lot of time to price compare with multiple insurance companies, fill out multiple quotes and research multiple providers.
Let us do the work for you. From Victoria to Charlottetown and everywhere in between, we know the commercial insurance marketplace. We’ll find you the most affordable flooring and drapery store business insurance Canada options. We’ll custom-fit your coverage to precisely match your specific risk exposures. Let us handle your insurance needs so you can get back to running your business.
Want the best business insurance fit? Check out these key coverages.
The Canadian retail market is no joke. You compete against online retailers as well as bricks and mortar big box neighbours. Finding suppliers who reliably deliver quality products that appeal to suburban homeowners, urban renters, design professionals, small business and/or corporations isn’t easy. Nor are the complexities of supply chain management. From shipping to warehousing to installation services and beyond, consumers expect a lot when they buy from your flooring and/or drapery store.
First and foremost, you’ll want property insurance to protect your inventory and storefront. This type of insurance can offer compensation for flooding as well as storm damage. It can also help pay for repairs if an employee causes damage to inventory while operating a truck or a front-end loader.
Get a free insurance quote aligned now for your retail store(s) in Canada.
There’s also commercial general liability for day-to-day risks. Alternatively known as CGL or general liability, this type of insurance helps you cover legal costs that could arise from lawsuits. This is important to flooring or drapery businesses because if someone has a slip and fall accident, you’ll have coverage that will respond to a potential claim.
DYK? What’s also interesting about general liability is it applies to your employees as well. With CGL insurance in place, your insurance company can help if an employee is injured during a delivery. Based on the services you offer, general liability insurance can handle any of these unknown accidents. This form of Canadian business insurance can help protect your company from a potentially costly lawsuit or claims situation.
Meanwhile, product liability insurance is what you’ll need to protect against defective or malfunctioning products. Product liability is especially important in your industry given that many of the products you sell are treated with chemicals. This type of insurance can also cover legal costs. Your coverage is designed to respond to a worse case scenario. For example, if a product causes harm or failed to have proper safety or government mandated warnings clearly listed.
You’ll also want to consider crime insurance. This type of business insurance in Canada is designed to offer compensation for employee and/or customer crimes. If an employee steals from your drapery and flooring inventory, your crime insurance policy will respond. In the event that one of your customers commits credit card fraud, your insurance company can help mitigate losses.
The inherent value of business insurance customization…
Your store is not the same as other retail stores, even within the same industry. Insurance for flooring and drapery stores in Canada should be customized based on the risks that apply to your store. You want liability coverage and protection for your store and inventory to be specific to your store. Your insurance coverage should be based on how many people you employ, what type of location you run, and what products and services you offer.
Ready to renew or buy retail insurance? Talk to an ALIGNED commercial expert.
Our business insurance brokers are here to get the best possible products aligned to match your specific risks. Get your free quote started now using our simple online form.
Related Matters:ALIGNED Insights – How to choose insurance for a Home Décor Store in Canada
Are you a home décor retailer? HGTV lists 25 top Home Décor Stores in Canada from EQ3 to Restoration Hardware to Cottage Industry. In Canada, home décor stores have a unique challenge of using brick and mortar stores while also providing a significant online presence. The key here is that the store fronts show Canadians that the brand is strong and the products can be tested…”
Still not convinced? Let us canvas the market.
A Canadian carpet success story. Alexanian opened in 1925 in Hamilton, Ontario and keeps changing with the times. When Aris Alexanian first founded his retail store, he travelled to India and the Middle East to find carpets to import back to his customers. As new developments in carpet came to Canada, he was able to offer new products. 1
Today, stores like Alexanian are marketing to online customers as well as in-store shoppers. These days, more people are removing their carpet and choosing tile, vinyl and hardwood options. As the times change, so do your business insurance risks. You need insurance for flooring and drapery stores in Canada that reflects the business you run today.
Insurance for flooring and drapery stores in Canada has changed over the years as products and services have changed. The styles of today are much different than in the past, just as store services have also changed with the times. As a storeowner, you need to know what types of current insurance products your store needs and where to find them at an affordable price.
At ALIGNED Insurance we search through more than 65 top insurance companies in Canada. We find the insurance for flooring and drapery stores that specifically fits your business.
We’re here to help you find the BEST commercial insurance…
Our team of insurance brokers is available to help answer any and all questions you might have about all of our commercial insurance products. If you have a question about business insurance, are uncertain about what a particular coverage term means, or simply want to find commercial insurance that directly aligns with your needs, don’t hesitate to call us toll-free at 1-866-287-0448.
We only work with top Canadian insurance companies. Our brokers know the marketplace. We’ll search the market and find you the best value and options in Toronto commercial insurance. We’re ALIGNED.
It’s time to get your insurance aligned. Want Canadian business insurance that’s ALIGNED with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448.
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