A painting supplies is a great investment for anyone with a passion for home decor and creating new styles. As an owner of this type of store, you’ll supply everything a customer needs for painting and wallpapering their home or office, as well as providing other services, such as painting consulting, and classes for beginner painters hangers. If you are a painting supplies store business owner, you should take note of possible risks, which include an injury to a customer from a misplaced can of paint, theft of money or supplies in your storage, or damage caused by a flood. To continue running a successful shop, be sure to obtain painting supplies insurance.
The following types of painting supplies insurance policies will give you the best protection for risks associated with running your business:
Painting Supplies General Liability Insurance
With a general liability insurance policy, your paint is protected from a slew of risks. General liability includes completed operations, products liability, and premises liability. A customer who suffers an injury from a paint sprayer on your premises, can sue you for damages. Those damages are covered by premises liability. If on the other hand, a customer has a lawsuit following an injury or other damage from a product you sold, products liability will offer you protection. Lastly, completed operations will offer your shop protection if you provided services, and damage was done to a client’s home which was found out after the services were rendered.
Painting Supplies Business Owners Policy
A business owner’s policy provides painting and wallpaper stores with optimum coverage. Also known as a BOP, a business owner’s policy includes an array of insurance coverage’s in one package policy. You will personalize the BOP according to your specifications, and can choose from employee dishonesty coverage, electronic data, business income and extra expense, buildings and contents, and newly acquired buildings. For example, if there is a natural disaster that destroys your building and contents, you will be unable to perform your daily operations until repairs have been completed. The business income and extra expense portion of the BOP will offer you financial coverage until you can re-open your shop.