Whether it’s a residential or commercial kitchen, kitchen wholesalers sell everything a customer might need to stock their kitchen. This includes linens like aprons, dish towels and oven mitts, glassware, pot holders, pots and pans, glass and aluminum bake ware, flatware, bar glasses and accessories, utensils, fancy silverware, dinnerware including plates and bowls, and occasionally appliances like microwaves, electric can openers, and toasters. Keep in mind; if you are operating a kitchen accessories store, you are at risk for liabilities like customers suffering an injury from a product or crimes such as shoplifting, among others. Protect your business from such risks with kitchen accessories and supplies store business insurance.
Types of Kitchen Accessories Insurance
When choosing business insurance, you will notice there are different varieties to choose from. Consider the following types of kitchen supplies insurance:
Kitchen Accessories General Liability Insurance
First and foremost, general liability insurance should be high up on your list of business insurance policies to obtain. This is a comprehensive policy, yet also a basic one. It includes coverage for premises liability, product liability, and completed operations. Premises liability is one of the most important aspects, because it covers any loss, damage or injuries occurring in your store. A customer might cut her hand while examining a set of kitchen knives, or slip and fall if a spill not cleaned up quickly enough. General liability covers medical and legal costs related to the accident. Completed operations is for any services you provide, such as providing custom etching on glassware, whereas the glassware later turns out to cause some sort of loss or damage.
Kitchen Accessories Product Liability Insurance
Product liability is also included in a general liability policy. This lets you get sufficient coverage for the products you sell. If a customer claims your product had a defect that caused loss or damage on their part, it becomes your responsibility. This could be appliances that caused sparks from the wiring, or a cutting board that broke, causing their knife to damage their counter tops.
Kitchen Accessories Wholesaler Business Property Insurance
Business property insurance is essential, as it includes coverage for damage done to your property and contents. Unexpected events like fire, flood, natural disasters, rain and snow storms are typically covered under business property policies. This means if there is a fire that destroys part of your kitchen accessories and supplies store building, and much of your merchandise, the policy helps repair the building and replace the damaged items. It includes coverage for items you sell, along with furniture and other contents.