As an appliance store owner specializing in refrigerators, you are likely busy keeping on top of market trends and new products, as well as the actual running of your business. You may also offer delivery of the refrigerator models you sell, and maybe repair services as well. That means your business not only occurs on your premises, but also at customers’ homes and in transit.
While it may not seem like a dangerous business, there are certain perils that you need to be aware of and protect yourself against as a refrigerator store owner. The best defence is a well-thought-out insurance policy tailored to your unique business. Anticipating risks is part of our job at ALIGNED, and we work to protect you from potential claims that can mean disaster for a business like yours.
Why do you need Refrigerator Store Insurance?
Simply having a business that’s open to the public is risky in and of itself. You also need to protect yourself against potential claims made against your business in the event of a product malfunction or defect, or even personal injury or property damage caused by your business activities.
Consider these possible claim situations to understand the risk you face as a Refrigerator Store owner:
- Your employee is delivering a new refrigerator to a client’s home, and he accidentally backs into your client’s car in the driveway and severely damages it and your delivery vehicle.
- One of your repair personnel is repairing a refrigerator in a client’s business. After the refrigerator is moved back into place the water line is dislodged and severe water damage is disovered the next morning as the water was running all night.
- The motor on a used unit you refurbished and sold catches fire and causes significant damage to a customers home.
What are some of the insurance coverages that mitigate risks for Refrigerator Stores?
To protect your Refrigerator Store, you need to consider the following types of insurance:
1. Commercial General Liability Insurance guards against any property damage or bodily injury that may occur as a result of your business operations. It typically also includes product liability coverage.
2. Property Insurance will protect your physical location from unexpected events like fire, extreme weather, vandalism and mischief. This coverage can also include your other business assets, such as inventory and equipment. You can add Business Interruption coverage to your policy as well, in the event your store can’t operate for some reason during a busy period.
3. Cyber Insurance is a good idea to protect your online assets and private customer information from potential hacks or breaches.
4. Commercial Auto Insurance is necessary for your Refrigerator Store if you do transportation or delivery of your units. It will protect your employees and your business in the event of an accident or mishap.
5. Additional coverages you may wish to consider for your Refrigerator Store include Crime insurance for your valuable inventory and Employment Practices Liability Insurance in the event one of your staff brings action against you for an issue like wrongful dismissal.
Speaking with an ALIGNED Advocate is the best way to have your Refrigerator Store insurance coverage tailored to your individual business needs.
Find the Right Refrigerator Store Insurance from ALIGNED
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