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Retail and Wholesale Insurance

Business
Retail and Wholesale Insurance

For more info, contact

Tim Tokrud

Director of Commercial Lines

Karen Benell

Account Executive

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
  • Warehouse
  • Showroom
  • Florist
  • Market

FAQ

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.


Protect your store.


Protecting your business, is our business. 

We work for you. 

With access to all the carriers across Canada rest easy knowing that we are always working in the best interest of you, our client.

Get in touch
Get in touch
Get in touch
Complete the form to connect with your local Gifford Carr broker to get a detailed quote. Trust us to ensure you are protected. So you can focus on what matters.



    What type of insurance are you shopping for? Select all that apply.







        Contact our team
        Contact our team
        Contact our team
        Complete the form to connect with your local Gifford Carr broker to get a detailed quote. Trust us to ensure you are protected. So you can focus on what matters.





          Business Interruption

          Business Interruption

          If your business is on hold due to a loss, tied to the physical location of your business, this coverage can help weather the storm.

          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.

          Commercial General Liability

          Commercial General Liability

          An essential for all business operations.

          Icon Market
          Icon Market

          In the event of property damage or bodily harm caused by you, your business or your employees to a third party, a comprehensive Commercial General Liability Insurance policy should protect you from litigation, out-of-court settlements, and judgements awarded by the courts.

          Learn more about Commercial General Liability.

          Commercial Property Liability

          Commercial Property Liability

          A fundamental coverage for the bricks and mortar of shop.

          In broad terms, this coverage protects your buildings, contents and—one of the most important assets for retails and wholesale operations—inventory. Ensure you are current with your inventory in stock for for your warehouse or shoppe.

           

          Crime

          Crime

          When handling cash and transactions, crime coverage protects you from theft in a robbery or fraudulent use of methods of payment.

          This coverage protects your business from a wide range of exposures to crimes committed by employees and certain types of fraud committed by third parties.

          For losses and claim expenses that result from credit card forgery or alteration crimes, computer fraud and theft, stealing and embezzlement (otherwise known as employee dishonesty), and destruction of property, adding crime coverage can help mitigate risks and financial losses. Connect with your local broker to ensure you are protected, so you can focus on building your business.

          Cyber Liability

          Cyber Liability

          Online payment, personal identity information (PII) and marketing data, it’s all a part of your daily business operations.

          Icon Computer
          Icon Computer

          Personal or business information breaches can be incredibly damaging and costly.

          If your business or organization has sensitive commercial or personal information that resides online (website or social media accounts), or communication methods (email automation, digital ads and abc) that transfers information digitally, Cyber Liability Insurance is imperative.

          Learn more about Cyber Liability Insurance.

          National/Cross Border

          National/Cross Border

          If you have revenue streams from the US or abroad, you need to consider coverage for your expanded business operations.

          If you are considering purchasing property, shipping product, have a business location or expanded business operations in the U.S. or abroad, you need to consider coverage for your International and/or Cross Border business.

          From corporate travel to opening up shop in another country, there is added exposure. Since every state, and foreign country, has its own set of insurance laws and policies, connect with your local broker who can help make sense of the various nuances and be certain that you’re properly and sufficiently protected – with an insurance provider that protects your best interests across the border.