Bike Shop Insurance

Bike Shop Insurance  image
Hard work goes into keeping your bike shop successful. Selling the latest products and accessories, advertising, providing safety and training courses, and other activities require your undivided attention. Your clientele may include casual riders who are looking to enjoy the great outdoors as well as professional cyclists who engage in competitions and races. Regardless of how you've set up shop, the insurance for your business can be invaluable. With bike shop insurance through AmTrust Financial, you could remain focused on your objectives and spend less time being concerned about safeguarding your business.

Bicycle Store Insurance Coverage Options

There are plenty of insurance coverage options available to you as a bike shop owner. Insurance policies from our top-rated carriers can include the following coverage:

• Workers' Compensation
• Businessowners Policy
• Cyber Liability Insurance

You may want to consider additional insurance coverage, as well, depending on your state's insurance requirements and your specific business and needs.

Workers' Compensation Insurance for Your Bike Shop

If you have one or more employees, your state likely requires you to carry workers' compensation insurance. The policy may include coverage for claims related to on-the-job injuries, accidents and illnesses. Since your business sells products that revolve around competition and sport, an accident or injury can easily happen. With workers' comp, injured employees may receive help paying for medical expenses, surgeries, hospital stays, prescription drugs, lost wages and more. As a bike shop owner, with a workers’ compensation policy, you could get defenses to any lawsuits filed for employees' workplace injuries and get help paying for costs associated with a claim.

What Does a Bicycle Store Businessowners Policy Cover?

Recovering from the aftermath of property damage, a third-party lawsuit, or a similar situation can be stressful for any small business owner. You may not be able to prepare ahead of time for a hazard. Obtaining coverage through a businessowners policy (BOP) could protect you against multiple risks. A BOP bundles different types of coverage to protect you from the following risks:

1. Property damage. Your property and inventory may be protected against fire damage, vandalism, theft and other kinds of damage.

2. Liability claims. Coverage is designed for third-party liability claims, including allegations of bodily injury, property damage, copyright infringement and advertising injury.

3. Business interruption. Loss of income you suffer due to an unexpected event, such as assistance recovering financially if you have to shut your bicycle shop for a period of time because of a catastrophe such as a fire.

What Is Cyber Liability Insurance for Bike Shops?

If you're like most businesses today, chances are you rely on the internet in one way or another. You may use the internet to keep track of sales and inventory, accept credit cards, have customers fill out online applications, or store important information in the cloud. Data breaches are an increasingly common fear for many business owners. Anytime you conduct business online, you could be at risk for a cyberattack. Cyber liability insurance can safeguard your business by helping you cover some of the costs associated with a cyberattack or data breach, risks that have only grown in frequency and severity in recent years.

How Do I Get Bicycle Store Insurance?

Protecting the hard work you’ve put into your bike shop is a top priority and having the right insurance that will safeguard your work is crucial. Get the coverage you need to keep your business thriving even in the face of uncertainties. Let AmTrust Financial help you find insurance policies and coverage limits to help keep your business safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about bicycle store workers' compensation packages and other top-rated insurance products that are available through AmTrust contact us today.

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