Supermarket Insurance

Supermarket Insurance

Operating a supermarket is no easy feat. Between managing your employees, inventory, and countless customers, there are many challenges and risks that come with running a grocery store. Luckily, supermarket insurance is a type of commercial insurance package that can help protect your business from harm. Learn how ALIGNED can help your supermarket find the coverage it needs below.

Supermarket Insurance
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The ABCs of supermarket insurance coverage 

To understand supermarket insurance, you must understand the coverage it provides. Though policies vary from business to business, the following coverages are generally recommended for supermarket owners: 

  • Commercial general liability insurance: Commercial general liability coverage, also known as slip and fall coverage, is intended to protect your supermarket against claims of third party bodily injury, property damage, and more. With this type of coverage, your insurer may compensate you for the cost of injury or damages to a third party, as well as the cost of a lawsuit (e.g. defence and court fees), and more. 
    • Product liability insurance: Under the commercial general liability insurance policy, you can add product liability coverage. Product liability insurance is important for supermarkets due to the wide variety of products they sell. With this type of coverage, you might be protected if an item you sell somehow injures a customer or damages their property. Product liability coverage may cover any applicable legal or medical fees, etc. up to the policy limit.  
  • Commercial property insurance: Commercial property insurance safeguards your supermarket and its business-related contents from damage caused by an insured peril. More specifically, this coverage may protect your property against insured perils like water damage, fire, theft, windstorms, vandalism, etc. 
    • Business interruption insurance: Business interruption insurance can be added under the commercial property insurance portion of your policy. This coverage may protect your supermarket against lost income if it is forced to close due to damage caused by a covered peril (e.g. theft, fire, vandalism, windstorms, and more).
  • Commercial auto insurance: Commercial auto insurance might be important if your supermarket uses vehicles for business purposes, such as to transport goods between stores or manufacturers or deliver groceries to customers. Commercial auto insurance policies vary but may include the likes of third party liability coverage, comprehensive coverage, uninsured automobile coverage, accident benefits coverage, collision coverage, and more. 
  • Cyber liability insurance: Many types of businesses, including supermarkets, can fall victim to cyber attacks. That is why cyber liability insurance is so important. This type of insurance can help cover the cost of a hack, cyber attack, or data breach, such as credit monitoring, crisis control, client notification, and more. 
  • Equipment breakdown insurance: If a piece of equipment in your grocery store, such as a freezer or cooler, suffers an internal failure like a mechanical or electrical breakdown, equipment breakdown insurance may help cover the cost of repairing or replacing it along with the consequential loss to replace spoiled produce, meat, dairy etc. Business income lost as a result of the equipment breakdown may also be covered under your policy.
  • Crime insurance: Crime insurance may be worthwhile for supermarket owners as it can help mitigate the financial losses of employee or customer crimes, such as internal theft, forgery, fraud, and employee dishonesty. 

What are you waiting for? ALIGN your supermarket with comprehensive commercial insurance today

Do you want to protect your supermarket from risk? ALIGNED is here. We make shopping for supermarket insurance simple and stress-free. When you work with us, you can expect a streamlined experience from start to finish. The process begins with a licensed insurance broker taking the time to understand your supermarket’s coverage needs. From there, we will contact top insurance providers to obtain quotes and compare options for you. The end result? We find a great policy at an affordable rate for your supermarket. Give us a call to speak with an ALIGNED insurance expert today or click here for a free quote.

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