Your general store – stocked with staples such as milk, bread, clothing, household goods, hardware, and tools – is more than just a corner shop. Your general merchandise store offers a reprieve from “big-box” shops and a taste of local flavor. Often, shops like yours are a central part of your community, saving your customers a long trek to the city and offering them a variety of discounted goods.
To keep your general store profitable, you have to worry about more than commercialized competitors. A single natural disaster or liability lawsuit could close your shop’s doors for good if you don’t have a financial safety net in place. Plus there are customer slips and falls, thefts, and your employees’ on-the-job injuries that could translate into a setback for your business.
Many provide goods and services that go beyond food products including such things as pharmacies and catering services. Opening a grocery store requires a large initial investment, so you will want to be sure to protect your business assets with a sound commercial insurance package.
Protecting your store means getting the right grocery store insurance coverage’s that protect you from common risks specific to your industry. We have shared articles on grocery store trends to be aware of and common risks to look out for.
You have invested a lot of time and money in opening your grocery store. Be sure to protect your business assets with the right kinds of property insurance. Talk to your insurance agent about:
- Building insurance: This provides coverage for repairs to the structure of your building if it is damaged by a covered event such as wind, lightning, fire or vandalism.
- Property insurance: This provides coverage for the products and inventory kept inside your store if they are lost or damaged by a covered event. Covered items include such things as your inventory of food and products, shopping carts, shelving, computer systems, cash registers, conveyor belts and display units.