Insurance For Variety Stores In Canada
The importance of Miniso’s new emergence on the variety store scene is that it fills the grey line between convenience stores and dollar stores. According to Canadian Grocer http://www.canadiangrocer.com , it appeals to millenials by offering unique and trending items. So far they have opened 100 stores in B.C., Alberta and Ontario. This story is important because it reminds us that there are many different types of stores that fall under the variety store umbrella. It’s important that insurance for variety stores in Canada take this diversity into account.
If you are a Canadian variety store owner, you need to know what types of insurance you need for your business. This insurance should be customized to your store. If you need insurance coverage, or you’d like to change your coverage, call ALIGNED Insurance at tel:18662870448.
What Types Of Insurance Does A Variety Store Need?
Insurance for variety stores in Canada should include Commercial General Liability Insurance. This type of liability insurance is used when someone claims they have been injured on your property. This means that if a customer slips on ice in the parking lot, you have insurance to cover potential legal costs. Even if you’re diligent about your health and safety policies, it’s still likely that one day you’ll need general liability insurance.
Product Liability Insurance will also be important for your business. This is the type of insurance you need if a customer is harmed by a product after they take it home. It might mean that a product if malfunctioning or defective. Maybe a toy has a piece of broken plastic that cuts someone. Maybe you didn’t know you were selling a spoiled food product. You’ll need product liability insurance to cover any legal costs that come from those situations.
As a business owner you will also want Property Insurance. Your insurance company can help pay for damages after a storm. You could also be compensated if someone hits or scrapes your building with their car. Property insurance is most commonly used for weather related claims. That said, there are many reasons to have property insurance, and every brick and mortar location should be protected.
You will also want to have Crime Insurance to cover losses from employee or customer crimes. If you hire someone who steals from you, your insurance company can help pay for losses. If a customer commits credit card fraud in your store, you can be compensated for lost revenue.
Why Variety Store Insurance Should Be Customized
As we’ve learned, there are many different types of stores under the variety store umbrella. It’s important that your insurance company understands your business so that you have the correct insurance coverage. Insurance for variety stores in Canada should be based on: how many people you employ, the types of products you sell, and your annual revenue. It’s up to you to be sure that the insurance coverage you get is protecting you from all risk, but is still affordable.
How Do I Get Insurance For A Variety Store?
You can get insurance instantly with ALIGNED Insurance Online Products. By answering a few questions, you’ll be eligible for insurance right away. If you’d like to take to an experienced broker about customizing your variety store insurance, 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. We help you compare costs and coverage so that you don’t have to fill out multiple quotes with multiple insurance companies. Let us do the leg work for you so you can get back to running your store!