Insurance for Cell Phone Stores

Insurance for Cell Phone Stores

Over the last 20 years, Cell Phone repair and sales stores have seen a large increase in demand. With this added customer base and increased sales, comes an increased need to properly insure your business. We will go over some of the basics to make sure your Cell Phone Store is properly protected.

Insurance for Cell Phone Stores – General Liability

General Liability is an important and inexpensive coverage to protect your business, regardless of your operations. General Liability protects your business against bodily injury and property damage that may occur from your business operations. For example, if you have a customer that is shopping for a new phone, falls and gets injured, the General Liability would provide coverage. When purchasing General Liability, make sure that you have Product Liability coverage included on the policy. Product Liability is especially important for those Cell Phone stores that also repair phones.

Insurance for Cell Phone Stores – Business Personal Property

Business Personal Property is a very important coverage for those Cell Phone Stores that carry a lot of inventory. Smartphones are extremely valuable devices and even a small Cell Phone Store can lose tens of thousands of dollars if a large claim occurs. Business Personal Property can protect you against these types of losses and more. In addition to the Business Personal Property coverage, you should look into Business Income coverage, which can provide coverage for lost income that is
a result of a covered property loss.

Insurance for Cell Phone Stores – Workers Comp

Any Cell Phone Store that has an employee is required to carry Workers Comp. Workers Comp for Cell Phone Stores doesn’t have to be costly. Work with a knowledgeable Broker to assure your employees are properly classified. A simple classification review can result in substantial savings if your employees were incorrectly classified.

If you would like to learn more about Insurance for your Cell Phone Store, give us a call at 925-297-4829.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.