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Posts Tagged ‘Business Insurance Organic Food Stores’

If you have built a business with years of painstaking hard work, you will have an instinctive desire to protect your organic food store when times get tough. Here are just some of the ways that insurance can protect your company, minimizing the inconvenience that unexpected circumstances can bring.

. General liability insurance

Today’s ‘where there’s a blame, there’s a claim’ culture encourages citizens to pursue legal action if they are injured in public places accidentally. General liability insurance protects you and your profits from the expenses associated with going to court should an incident occur in your organic food store.

This form of cover preserves more than your earnings, but also your reputation and your ability to continue trading.

. Business owner’s policy (regularly abbreviated to BOP)

The dilemma of under-insurance and over-insurance can be solved easily through a business owner’s policy. This is where your organic food store would be given one premium that provides several forms of cover simultaneously. If your store should be burgled, or trade should be interrupted because of a family emergency or illness, a BOP would provide both crime insurance and business interruption coverage, guaranteeing protection across a wide spectrum of possibilities.

Before signing the dotted line on a business owner’s policy, it’s essential to do your homework and receive advice on the highest risks your company faces. For example, if you live in a state that is prone to earthquakes, you may need to enlist an additional policy that will guarantee insurance payments if your business properties are damaged in a natural disaster. Not all insurers will automatically cover you in these circumstances, so it is better to be safe than sorry.

. Commercial auto coverage

Do you have a fleet of vans or trucks used to deliver organic produce in between stores or to the doors of your customers? If so, commercial auto coverage is a necessity, just like insuring a car you own for personal use. Remember: it doesn’t matter if you are a sole trader with vehicles in your name – an insurer can refuse to make a pay out if it’s apparent that you were using your vehicle for business reasons. This policy should also insure any staff on your pay roll that uses the autos in your company. Not being thorough with your research could be an expensive mistake.