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Insurance for retail: 6 insurances to consider.



Your retail is important to your community, customers and employees. They are counting on you for something, whether it is a product or a paycheck. That's why it's important to make sure your business is properly protected.

At Frankenmuth Insurance, our Commercial Retail Insurance provides coverage for:

  • Your Building and Its Contents – To protect the building you own or rent out, we insure the physical structure against fire, storm damage, theft and vandalism. Your coverage also includes the contents inside the building, such as fixtures and fittings.
  • Loss of Revenue – If your business is temporarily closed after an unforeseen covered loss, your insurance will pay for lost revenue. – Think of our liability insurance coverage for your company if someone is injured in your business. For example, if a customer slips and falls in your store, your insurance will pay for medical expenses due to bodily injury up to the limits of your insurance. If an action is brought against your company by the same customer, your insurance will also help cover legal defense costs on your behalf.

We also encourage business owners to align their insurance with other insurances, based on their unique business needs, including :

  1. Commercial Car Insurance – If you use either a commercial vehicle or your personal vehicle for errands, deliveries or visits to dealers or suppliers, ask your commercial car insurance agent. Our insurances can cover all vehicles used – by you or your employees – for all business purposes.
  2. Commercial Umbrella Insurance – Most commercial insurances include certain liability insurance up to a certain dollar limit. Commercial umbrella insurance provides an extra layer of protection to help pay for any costs that exceed your underlying policy limits. Say, for example, that one of your employees runs to the post office to leave mail or send a package for business purposes and is involved in a car accident where serious injuries were sustained. Your commercial umbrella protection would pay for all medical fees that exceed your commercial car insurance limits.
  3. Cyber ​​and Data Insurance – Dealers collect a lot of personally identifiable information from both customers and employees, including credit card numbers, checking account numbers and sometimes social security numbers. If this information is lost or stolen, cyber and data insurance will cover the costs of notifying people and managing your reputation. And then, once the dust settles, we will offer you a data breach coach, expert advice, and important tips on cybersecurity. EPLI help cover the costly claim and / or lawsuit.
  4. Equipment breakdown insurance – For your shop space, you rely on electronic equipment such as cash register systems, telephones, heating and cooling systems and possibly. refrigeration equipment for your business to run smoothly. If a sudden and unintentional breakdown of your equipment occurs, coverage can help with repairs / replacement costs, destroyed inventory costs and loss of business income.
  5. Occupational Injuries Insurance – Required by most states, occupational injury insurance covers the cost of work-related injuries or illnesses. This includes loss of pay for employees and medical benefits, and it can also cover legal costs in the event of a lawsuit.

Were you not sure where to start? Contact one of our local, independent agents to review your current policy and guide you to the right insurance for your retail business.

Bonus read: How to make your store safer.

 business risk management

Business owners like you are practical. You run facilities, teams and businesses, all of which are crucial to your success. We realize the importance of protecting the things that make your business run. That is why we offer free security services to commercial policyholders. Our loss control experts are equally practical and will recommend ways to […]

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