Retail and Wholesale Insurance
For more info, contact
Tim TokrudDirector of Commercial Lines
Karen BenellAccount Executive | Broker
Protect your business with the customized retail insurance for your shop.
Many store owners don’t realize how many exposures they must address to keep their business operating smoothly. No matter how safely and carefully you run your business, you still might need to have an insurance policy that can cover property, business interruption, crime and liability. Whether you are direct to consumer or a physical bricks and mortar storefront, your business will inevitably include dealing with the public, making financial transactions at a counter or online, and will likely include stock and delivery or shipping.
Building your business, online or in store, is about lining up the right team. Put your trust in us, we help ensure your worst-case scenario is covered. With the right insurance you can focus solely on building your business. Protecting what matters most, that’s what we’re here for. We’re on your team.
No matter what kind of retail business you’re in – from clothing to electronics, bakeries to building materials – you need the right insurance protection in place. It will give you the peace of mind to know you are protected, so you can do what you do best.
Connect with your local broker to protect your corner, so you can focus on building your business.
RETAIL & WHOLESALE BUSINESSES WE WORK WITH:
- Storefront shop
- Boutiques and shoppes
- Grocery and Specialty Food shop
- Direct to consumer/Online store
- Sporting Goods store
Retail and Wholesale Insurance Solutions
How do I value the property that I own and the stock that I sell?
Replacement cost on the property and actual cash value for the stock.
Difference being, you want to insure what it would cost to replace your building and contents, your stock would be insurer for the cost to purchase less depreciation.
Do I need business interruption coverage?
In the event of a loss where business could not continue as normal for a period of time, and there is an essential tie in to the business physical location, this coverage would help cover profit and ongoing expenses during repairs to help tied over the business until reopening operations at the same level of operations prior to the loss, or until your 12-24 month period of indemnity is exhausted, whichever comes first.
The key here is the time until you are back up to your level of operations prior to the loss. After all, continuity is critical in business. Connect with your local broker to understand more about this kind of cover and the indemnity period in place for your policy.
Do I need crime coverage?
When handling cash and financial transactions, crime coverage can protect you from theft in a robbery or fraudulent use of methods of payment.
I rent, but I made improvements to the space, how do I value those?
Otherwise known as lease-hold improvements.
Take note of these renovations and improvements to your rental space and account for them under your property liability to include the improvements as a part of your contents covered.
I want to expand sales to the US, what do I need to know?
Actually, it’s what does the broker need to know. How are you selling it? How are you shipping it? Are you opening a physical location in another country?
Understanding the added scope of your work
Do I need my own cargo insurance, or is it covered by the shipping company?
If the value of the shipment is significant, and the valuation given by the shipping company does not cover the value of the goods being sent, then you should consider adding cargo insurance to mitigate the exposure.