Insurance for Home Goods Stores

Insurance for Home Goods Stores image
As a home goods store owner, many customers come and go throughout the day, and your patrons depend on the goods you sell to decorate their homes and businesses. Maintaining inventory, displaying merchandise, advertising sales, managing vendors and training staff takes hard work. While you’re focused on keeping your business running smoothly, you might not always be aware of the risks that could threaten your store. With bespoke home goods store insurance solutions through AmTrust Financial, you can help keep your resources and finances protected in the midst of uncertainties.

Insurance for Home Goods Stores

Having insurance coverage that's tailored to your unique needs as a home goods store owner is critical to your success, as even a single negative incident could jeopardize the business you've worked so hard to build. A few examples of risks and hazards that could be covered through home goods store insurance include:
  • Theft and vandalism
  • Damage to property and inventory
  • Employees' accidents, illnesses, and injuries
  • Third-party claims
  • Loss of business income
  • Data breaches and cyberattacks


Protecting Your Property and Inventory

You may not be able to predict when an unexpected event will strike your store or when an individual will leave your property with a valuable item without paying for it. A businessowners policy (BOP) can cover the building you own or lease, as well as the inventory you carry, if an adverse situation arises. The policy may help you pay for the costs of repairs or replacements if you suffer property damage or if you're the victim of theft or vandalism. Additionally, a BOP could help to cover a loss of income if you have to close your store temporarily due to a covered event.

Covering Your Home Good Store Employees

Your employees have many responsibilities throughout the day, and ensuring their safety at all times is imperative. Even with extensive safety training, you can't always prevent an unfortunate workplace accident, injury, or illness from occurring. In the event of an employee's work-related injury, workers' compensation can help to cover the costs of his or her medical expenses. A policy often includes partial income replacement until the employee is able to make a full recovery. In some instances, workers' comp can protect your store from being sued related to an employee's accident in addition to covering the claim-related costs.

Keeping Your Business Protected Against Liability Claims

Each time you open your doors, there's a chance for one of your customers to become injured while visiting your store. A large box could fall off one of your shelves and strike a guest, or an employee could forget to post a sign indicating that he or she just mopped the floor and a customer could slip. General liability insurance can offer protection for a variety of third-party claims. This type of policy can help you cover the costs of legal fees if you're faced with a lawsuit for bodily injury, personal injury, advertising injury, and additional related expenses.

Shielding Your Home Goods Store from Online Risks

If your point-of-sale equipment isn't up-to-date, you may be at risk for a data breach or cyberattack. If a hacker is able to breach your system, your customers' credit card information could be stolen, and you could be held liable for damages. Cyber liability insurance may cover the costs of a data breach and assist you with fulfilling your legal obligations.

Getting Home Goods Store Insurance

In an unpredictable industry, the time to protect your store is now. To learn how AmTrust can help you secure the home goods store insurance solutions you need, please contact us today.

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