Insurance for Hardware Stores

Insurance for Hardware Stores

Hardware Stores, like most businesses, have unique exposures that must be addresses with the right types of Insurance. There are many programs available for all lines of Insurance for Hardware Stores, we will break it down for you in this blog.

Insurance for Hardware Stores – General Liability & Business Owners Policies

General Liability is an important and affordable coverage that no Hardware Store should operate without. General Liability is especially important for Hardware Stores because these businesses often have customers walking in and out of the store. If one of your customers falls and gets injured, it is the General Liability that will protect your business against these types of claims. Instead of a standalone General Liability policy, many Hardware Stores opt to purchase a Business Owners Policy, which bundles the General Liability and Business Personal Property into a single policy.

Insurance for Hardware Stores – Covering Your Inventory

Protecting your inventory is important to remember when shopping for your Insurance. Typically your inventory is covered under the Business Personal Property section of your Business Owners Policy. In addition to covering this important property, you should also consider Business Income coverage. Business Income will actually pay you for lost wages that arise due to a covered property loss. This simple, affordable coverage can make the difference between you re-opening or having to close your business down as a result of a large claim.

Insurance for Hardware Stores – Workers Comp

Workers Comp is another important and common coverage for Hardware Stores. Quite simply, this is because most Hardware Stores have employees. This is an especially important coverage because regardless of your State’s requirements, most businesses are held liable for their employees injuries/illnesses that arise from work operations. There are dozens of carriers out there that write Workers Comp for Hardware Stores, therefore you should make sure to take the time to find a solid broker that will properly shop this policy, as it could decrease the premium significantly.

If you would like to learn more about Insurance for your Hardware 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.