Question I'm thinking about turning my online clothing boutique into a brick-and-mortar business. I sometimes worry about the things that might go wrong – from theft to an accidental electrical fire. Is there insurance coverage to relieve my worries?
We posed this question to Shelly Maby, a Farmers Insurance® agent based in Phoenix, Arizona. Here's what Shelly had to say about insurance coverage for retail shops.
Answer No matter what type of retail business you own – a flower shop, an appliance repair shop, a dry-cleaning operation, a kite store, a clothing boutique (you get the picture) – shop insurance may be helpful to help you protect your business against financial losses.
The type of shop insurance coverage you may want, depends on your type of business. However, it may be helpful to think about:
Whether a claim will be covered will always depend on the facts and circumstances of the claim and the provisions of the policy at issue. However, generally, the following are a few example scenarios that may be covered by different types of shop insurance:
Because no two retail operations are exactly alike, it's important to think about your particular business needs. Shop insurance policies aren't one-size-fits-all, so let us know if we can help you create a plan with coverage that fits your unique business needs.
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