Convenience Store Insurance

General liability insurance is for third-party bodily injury and property damage that happens on your property. For example, if a customer slips on a melted ice spill in your drink aisle and breaks an ankle, this policy handles their medical bills and your legal defense fees.

A Business Owner's Policy serves as the standard starting foundation for small business insurance for convenience stores. It combines general liability, commercial property, and business interruption into a single, affordable package.

This policy helps to preserve your physical building, leasehold improvements, shelving, register, and retail inventory. Commercial property insurance would cover the cost of repairing structural damage and replacing the destroyed merchandise if a fire occurred in the backroom.

Business interruption insurance covers your lost net income if your store has to close temporarily due to a covered loss. For instance, if a fire in the kitchen ruins your food preparation space, it covers continuous payroll, rent, and utilities costs during the repairs.

If an employee is injured on the job, their medical expenses and lost wages are covered by workers' compensation. Most states require this coverage from the very first employee, such as when a worker strains his or her back while restocking heavy beverage crates.

It is a must-have for stores that sell alcohol. There is no coverage for alcohol-related claims in standard general liability. Liquor liability insures your business against lawsuits, bodily injuries that may arise when an employee accidentally sells liquor to an intoxicated customer.

Crime insurance helps defend your cash flow and stock against internal and external theft. If, for instance, an employee changes register records to divert daily cash receipts, or sells a certain quantity of tobacco over a period of months, this policy will compensate you for your losses.

Product liability protects you and your company against claims arising from the sale of a product in your store. The policy will cover legal costs and settlements if a customer suffers from serious food poisoning due to a contaminated deli sandwich or faulty packaged product.

Cyber liability covers forensics, customer notification expenses, credit monitoring services, and regulatory penalties related to stolen payment card information when your point of sale (POS) system is hacked.

If your business owns or leases vehicles for bank runs, wholesale inventory pickups, or local deliveries, commercial auto covers liability and physical damage in the event of an accident. It insures against damage to vehicles and personal injuries sustained by third parties.

HNOA safeguards your company when employees use their personal vehicles for errands. If an employee runs into another vehicle while driving their own vehicle for daily deposits to the bank, it would respond for third-party damages beyond the limits of the employee's personal coverage.

An umbrella policy is a policy that sits on top of your basic liability policy. If a catastrophic lawsuit judgment exceeds your general liability maximums, excess liability steps in to pay the remaining balance.

Equipment Breakdown includes mechanical, electrical, or pressure system failure. For instance, if your main walk-in cooler goes down due to compressor failure, this policy would take care of the expensive compressor repairs and compensate you for any loss of perishables.

EPLI covers your business in the event of a legal claim concerning your employees. When a previous employee has a claim against your business for wrongful termination, harassment, or workplace discrimination, EPLI would provide legal fees and settlement costs.