Owning an art supplies can be very rewarding and fulfilling, particularly if you enjoy doing arts projects yourself. As the owner of the, you have the luxury of running the operation yourself so that you can stay in close contact with your customers. Or you can turn it over to another person to manage the day-to-day operations. In either case, you are responsible for making sure everything runs smoothly, stays profitable, and stays safe. The best way to keep it safe is to carry the right types of small business insurance.
General liability insurance is an important broad level of basic coverage for your company. This insurance helps protect your business from the financial difficulties that can arise due to a number of different hazardous events. If a customer sues your arts supplies for example, general liability insurance will help deflect those expenses. When customers make legal claims or allegations, or accidents occur that cause them physical injuries, general liability is there to help. This coverage will also expand its coverage protection as your business grows. So when you add new store locations or new products for sale, they’re automatically covered. Some of the most important ways this insurance protects you include:
General Liability Insurance Includes:
- Premises Liability – Premises liability insurance protects your art supplies when accidents happen inside the store, or around the outside premises areas. If a customer injures themselves on your business property, they can sue your company for the damages and bills they incur. Your premises liability insurance is designed to protect you from those lawsuits and expenses, by paying for the medical bills, repair bills and other damages that occur from the accident.
- Products Liability – Products liability coverage is the portion of your general liability policy that protects you when problems are caused by the products you sell. Whether a product is defective due to a mistake in the manufacturing process or it is recalled due to unforeseen risks, if that product causes harm to your customers they may sue your company. Products liability insurance pays for your legal defense costs when these issues arise. It also pays for the customer’s medical care, damage repair bills, pain and suffering, or other judgments and awards.
Just as your customers have choices of where to go for their art supplies needs, you have choices with your insurance. It is likely that every agent who calls will tell you they can write business insurance; however, what they may not know is your business! and, even if they know about art supplies business, does the company they are placing you with know about your business? We at Skyscraper insurance specialize in your business. We have the coverage’s and claims experience to handle the unique needs of a art supply business. Our independent agents have all of our resources available to them to make sure you can make the right choices when it comes to the coverage you need. Would you like to speak with one of our agency specialists?