Running a grocery store is a big responsibility. It’s not just about making sure your shelves are stocked with a fresh selection of food, but you also have to worry about the safety of your customers and employees. That’s why it’s important to have the right insurance in place. In this article, we will discuss insurance for grocery stores and how it can protect your business. Many aspects of your store’s insurance needs depend on the types of products you sell and the services you offer. With a customized grocery store insurance policy, you can safeguard your business and continue providing your community with all the essentials.
Insurance for Your Store Property
There are a few different types of grocery stores that almost any grocery store will want in place. Property insurance can help cover the cost of damages to your store or contents, while liability insurance can help protect you from lawsuits. Because of the high volume of foot traffic and the amount of products you have in your store, having coverage for the building itself and what’s inside is vital. Commercial property insurance covers items and equipment such as food, products, shopping carts, registers, refrigerators, freezers, and the like.
Equipment breakdown insurance offers coverage if your freezer or refrigeration systems malfunction. In some cases, this can also include spoilage coverage, which covers the costs of products that go bad due to faulty equipment. Building insurance offers coverage for the structure if damaged by covered events.
Product Liability Insurance for Grocery Stores
With the responsibility of selling food items comes the possibility of selling spoiled food. Whether or not it’s food your store had any control over, the products you sell could potentially make a customer sick. Should they choose to file a lawsuit, product liability insurance would offer you protection.
Cyber Liability Insurance for Grocery Stores
Very likely your grocery store accepts credit card payments. This puts your store at risk of being attacked by data hackers. Cyber liability insurance would cover costs associated with lawsuits related to a data breach.
Additional Liability Coverage for Grocery Stores
Liability claims pose a definite risk to grocery stores and supermarkets. But the type of coverage needed will depend on what you’re selling. For example, if you have a pharmacy at your store, you would need to cover your store in the event that a pharmacist makes a mistake. If a customer consumes alcohol that was purchased at your store and causes injury, you’ll need liability coverage in place as well. In these cases, druggist liability and liquor liability insurance would be needed.
Insurance to Protect Your Customers & Employees
Injuries can happen in the store and customers can slip and fall. Business insurance for grocery stores can help cover the cost of damages or injuries that occur on your property. It can also help pay for legal fees if you are sued by a customer or employee. While no one likes to think about these things happening, it’s important to be prepared for anything. For example, if an employee cleans up a spill but forgets to put a wet floor sign resulting in a customer slip-and-fall incident, your store can have a lawsuit on its hands.
If your store offers delivery service, you’ll need some form of business auto insurance, dependent on whether you’re using company vehicles or if your employees use their own vehicles for making deliveries. In the event one of your employees is involved in an auto accident, your store is protected. These are just some instances that you need to consider when building your grocery store insurance policy.
Best Insurance for Grocery Stores in PA
No matter what type of grocery store you run, it’s important to have the right insurance in place. The types of coverage for a business owner can seem endless. And while you certainly want to have your bases covered, you’re also not looking to dump an exorbitant amount of money into insurance each month. The best way to determine the proper level of coverage for your business is by working with a professional. Getting an online quote these days is easy. But if you are guessing answers to half of the questions or unsure if that insurance is even necessary for your business, you’re likely missing out on some key benefits.
For more information on insurance for grocery stores, reach out to a Kind Insurance agent today. They will put together the right policy for your needs.