Insurance For Convenience Stores In Canada
According to the Financial Post, it’s a tough time to own a convenience store. Competition pops up on every corner and stores rely on customer loyalty to stay in business. Insurance for convenience stores in Canada is important in order for businesses to plan for unexpected circumstances. Every store owner should have insurance. It’s best if you can customize your insurance to your store. Your insurance company should be responsible for helping you keep your doors open in case of liability claims or damages to your property. In this article, you’ll learn what types of insurance your store needs and how to get it.
Across Canada, Circle K is opening new locations and cornering the convenience store market. In Guelph Ontario an ambitious immigrant in her 20s can take over a convenience store and try to make a specific niche. Meanwhile Circle K opens a store just 10 minutes down Gordon Street. Each owner needs to foster customer loyalty while protecting themselves from the liabilities and potential losses involved with owning a business. Insurance for convenience stores in Canada is easy to find, as long as you can trust that your insurance company is giving you coverage for any risks you might encounter.
What Types Of Insurance Do Convenience Stores Need?
Your business needs Commercial General Liability Insurance to provide coverage for injuries that occur in your store. This type of insurance will help you pay for legal costs if a customer claims an injury. If a customer slips on ice in front of your store, you will be covered. If a customer hurts themselves by knocking over a shelf, you will be covered. This liability insurance can help you continue to run your business if these accidents happen.
Convenience stores should have Product Liability Insurance in case a customer is harmed by a product you sell after they take it home. You might not know you’re selling a product that is spoiled. If that product makes a customer sick, your insurance company can help cover costs from a potential lawsuit.
You need Property Insurance in case your store sustains damaged. This type of insurance will help you cover losses if there’s a storm that damages your property. In addition, it can help cover costs associated with property damages that happen because of other accidents. If someone backs their car into the side of your building, your insurance can pay for repairs.
Every convenience store should have Crime Insurance. We have all seen crimes committed in convenience stores on T.V. It’s important to feel safe in your store. In reality, your business is more likely to be affected by employee or customer crimes, not hold-ups. Your insurance company can help mitigate losses if employees steal from your inventory or customers commit credit card fraud.
Why Your Insurance Should Be Customized
Insurance for convenience stores in Canada should be customized to your specific store. Customized insurance means that your insurance company understands that your business is different from other retail stores. Therefore your insurance should be different based on your location, the number of people you employ, and your annual revenue. If your insurance is customized, you know you won’t be over-charged or under-insured. You can rest easy knowing that your insurance company will help you when unexpected events happen.
How Do I Get Insurance For A Convenience Store?
You can get insurance right away with ALIGNED Insurance Online Products. Just answer a few questions and you’ll be able to submit your request for insurance instantly. If you would like to talk to an experienced insurance broker, you can call ALIGNED Insurance at tel:18662870448. It’s our job to search through the 65+ top insurance companies in Canada to find the insurance package that fits your business. It takes too long for you to fill out quote applications to compare insurance prices. Let us do the work for you so you can get back to running your convenience store.
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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