by Andy Rose, Head of Commercial Lines, Main Street America Insurance •

Owning a store is often more than a livelihood — it’s a way of life. Having the right retail business insurance in place will give you the peace of mind of knowing that your employees, livelihood, and property are protected from the moment you open the door.

As a rule of thumb, most retail stores will likely need protection against the following risks:

• Employee injury  
• Commercially owned vehicle damage and accidents  
• Loss due to theft or other criminal activity  
• Loss of business income  
• Property and merchandise damage or loss  
• Customer injury  
• Employment practices liability 
• Products liability

Workers’ Compensation 

Workers’ compensation insurance for retail stores helps cover lost wages and medical expenses for employees who are injured on the job. In some cases, the Employer’s Liability section may even extend to defense costs if the business is sued.  Workers’ compensation coverage is vital to protecting the people and operations you have invested in.

For example, an employee injures their back while restocking heavy items, leading to an ER visit and two weeks of bed rest. Your workers’ compensation insurance will kick in to cover that employee’s medical bills and help them recoup lost wages from their recovery period, as well as defend your business from any covered legal liability. 

Commercial Auto

Of all the retail insurance products, commercial auto can be the easiest to overlook. However, if you or your employees make deliveries or do any other business-related driving, it’s important coverage to have. Commercial auto insurance protects your company vehicles from losses resulting in physical damage and your business against the liability associated with Bodily Injury, Personal Injury, and Property Damage if you or your employee are involved in an accident while on the job.

Say, for example, that you own a bakery and you need to run to the grocery store for supplies. As you’re leaving the parking lot, you miss a stop sign and hit another vehicle. Your commercial auto insurance will pay covered damages caused by your mishap, saving your business from unexpected expense.

Business Owners Policy

Your Business Owners Policy is an essential part of your retail insurance program. The Business Owners Policy provides a wide array of protections, from general liability, to property, personal injury, and more. Coverage can easily be tailored to meet the unique needs of your operations.

Main Street America Insurance has the experience and expertise needed to protect small- and medium-sized businesses. Talk to an independent insurance agent to learn more about our “Main Line BOP.”

Commercial Property

Commercial property is a type of retail store insurance that protects your storefront and other business assets from a variety of covered losses, including fire, storms, theft, and vandalism. For example, if a storm comes through and a tree falls on your business, your commercial property coverage will pay for covered damages caused by the storm.

General Liability

General liability insurance is designed to protect your business from legal liability associated with claims of bodily injury, personal or advertising injury, property damage, and medical expenses. For example, if a customer brings about a lawsuit alleging that you caused them covered reputational harm, your insurance policy will help pay legal expenses related to your defense. 

Employment Practices

Employment practices liability insurance is a little more specific than general liability insurance. It will make sure defense costs are covered for the business if an employee or third party makes a claim of discrimination, wrongful termination, harassment, or another covered harmful act where the employer is allegedly liable.