The Insurance You Need as a Kitchen Supply Store Owner
As a Kitchen Supply business owner, you help customers and other business owners get everything they need to outfit their commercial and private kitchens. From equipment and appliances to knives and tableware, your clients depend on you to have it all. For those supplying a home kitchen, there’s no better source to go to than the one that chefs depend on.
While you might not think of the Kitchen Supply business as an overly risky one, there are certain risks you should guard against with the right insurance coverage.
What are the Risks with a Kitchen Supply Business?
A Kitchen Supply business faces many of the same risks as other retail stores, but with some added ones as well. Below we explore some possible coverages to protect your Kitchen Supply business but speaking with an ALIGNED agent directly allows you to understand your own individual needs best.
To protect against potential risks associated with operating your business, including having to do with your premises, products, completed operations and more, Commercial General Liability Insurance is a necessary insurance coverage. For small business owners this covers you in the event that someone experiences bodily injury or property damage associated with any of these aspects of your business. As a Kitchen Supply business, you should ensure that you have coverage for product liability, to guard against anything that may go wrong with the products you sell like appliances, knives, furniture and more.
Commercial Vehicle Insurance is another coverage that can help with your Kitchen Supply business is you or your staff operate company vehicles to do product deliveries or other business. ALIGNED can assist with customized Commercial Vehicle Insurance that is best suited to your company’s needs.
Another coverage to consider is Product Recall Insurance. Unfortunately recalled products are more common than many people think, and the costs associated with them can range from refunds to rehabilitating your reputation after this happens.
Property Insurance applies to your commercial location and protects you against unforeseen events, such as theft, flooding, fire and vandalism. With this coverage, you can receive the cost of property replacement at its real value.
Umbrella or Excess Insurance kicks in when other coverages are exhausted in the event of a major occurrence. Depending on the nature of your business, you may wish to consider this coverage to ensure you are not stuck paying costs out of pocket.
When do Kitchen Supply Stores Need Insurance?
- An employee steals several numerous sets of expensive knives from your store and resells them.
- A mixer you sell is found to be defective after you have sold through catches fire and damages your customers home and your store is held partially responsible for the damages to their home in the out of court settlement.
- A staff person is delivering an order to a customer in a company vehicle when she is struck by another car.
As a Kitchen Supply business owner, you may operate a retail location, or you may deal directly with restaurants and other food service businesses. Regardless of the particulars of your business, contact an ALIGNED agent today to discuss the best solution for your needs.
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