Insurance for bookstores in Canada requires customization because most independent bookstores are so unique. Buzzfeed lists 35 Charming Canadian Bookstores To Visit Before You Die. In Chilliwack B.C. The Book Man offers titles stacked to the ceiling and sure to keep you preoccupied for hours. If not the books, then the resident cat keeping you company will hold your attention.
In Guelph, Ontario The Bookshelf offers a wide range of local authors and LGBT content along with their cinema and cafe. It’s bookstores like this that become pillars of the community for generations. As Guelph has built up and expanded, The Bookshelf remains a classic meet-up for anyone travelling downtown. Insurance for bookstores in Canada has to be custom-made for each store. Y
our insurance takes into account the value of your merchandise, the number of people you employ, and the risks that you’re most concerned about. You’ll need to know what types of insurance your bookstore requires and how to get it. At ALIGNED Insurance we search the 65+ top insurance companies in Canada in order to find you the insurance package that fits your business.
We’ve made it simple for you to get the coverage you need. That’s why you can buy your bookstore insurance 100% online using our simple application now.
Why Do Bookstores Need Customized Insurance?
Bookstores need customized insurance because they offer different services than other retail stores. If your insurance company treats your store like another retail store, you may not be insured for some of the risks you face. For example, The Bookshelf in Guelph requires insurance for their cinema as well as their bookshop. They offer popcorn and indie films that require insurance to protect. On the other hand, you also want your insurance to be affordable based on your bookstore. If you offer fewer services than another bookstores, customized insurance will help decrease your insurance costs.
What Types Of Insurance Do Bookstores Need?
Commercial General Liability Insurance is your insurance covering liability if any harm comes to your customers. Your liability insurance will cover you if there are legal costs that come from a pile of books falling on a customer’s head. Every retail store needs liability insurance, but it’s up to you and your insurance company to decide what potential liabilities you face.
Product Liability Insurance is your coverage for products that are defective or malfunctioning. If your insurance is customized for a bookstore, this coverage can be lower due to the low incidence of risk that comes from a book causing harm. However, as we know, most bookstores have expanded their merchandise to include other products like games and toys. If your bookstore sells more than just books, your insurance needs change with your change of inventory.
Property Insurance is the insurance that will cover property damages. This usually refers to weather related damages. It also extends to accidents that happen when other stores around you have problems. Your property insurance would pay for damages to your inventory if there was a flood, or the store next to you scraped the side of your building with one of their fleet vehicles. Property insurance is customized to your location, which means that even bookstores from the same brand may require different coverage.
Crime Insurance is your protection against crimes committed by employees or customers. Your insurance coverage can compensate you if an employee is stealing merchandise, or if a customer commits credit card fraud. Your crime insurance can be customized based on how many people you employ and how much foot traffic and online sales you do each year.
Where Do I Get Insurance For A Bookstore In Canada?
You can buy your insurance instantly with ALIGNED Retail Store insurance for Bookstores. Simply click here and select Bookstores / new books / newspapers / magazines and other periodicals; excluding rare book dealers in the drop-down menu to get started!
If you’d like to talk to an insurance broker about all of your customization options We want to save you time finding quotes and comparisons from multiple insurance companies. We know how to find the cheaper and easier options for insurance for bookstores in Canada so you can get back to running your business.