Owning a convenience store can be both a rewarding and demanding experience. Due to easy access, convenience stores are a daily stop for many commuters. This constant stream of traffic can position you with a great source of ongoing income, and also put your small business at a variety of financial risks. Fortunately, it's possible to help protect your store from the unexpected with convenience store insurance solutions through AmVenture Insurance Agency, Inc.
As a convenience store owner, the way you run your small business is completely unique. Perhaps you keep your doors open on a 24/7 basis, and maybe you sell liquor, cigarettes, and fast food products. Regardless of how your shop is set up, it's important to protect your assets with the right convenience store insurance options through AmVenture. While individual insurance packages can be tailored, convenience store insurance coverage typically includes the following solutions:
In addition to the common insurance staples, you might need supplementary coverage, depending on your setup. For example, you may be required by your state to carry liquor liability insurance if you sell liquor.
BOP: Protection for Your Property, Assets and Liability
Commercial property insurance is the part of a businessowners policy (BOP) that may cover damages to the structure of the building you own as well as inventory, equipment, and other property. In many cases, the BOP can also provide coverage for acts of theft or vandalism.
General liability insurance is also part of a BOP and may cover property damage or injuries suffered by third-parties while they're visiting your convenience store. This type of policy can protect your business from a variety of third-party liability claims.
An additional benefit of a businessowners policy is business income insurance. With this coverage, if a disastrous event, such as a fire, forces you to close your convenience store while you're repairing the damage, you could receive financial assistance to help recoup some of your lost income.
Protection for Your Convenience Store Staff
Workers' compensation, which is required in most states, can provide coverage for employee accidents and illnesses that are work-related. This coverage can pay for medical treatment, job retraining, disability payments, and partial lost income. In addition to covering accident-related claim costs, workers' comp benefits may provide your business with a defense to any claims from employees arising out of the work-place related injury or illness, depending on the situation.
About Employment Practices Liability Insurance
Employment Practices Liability Insurance (EPLI) coverage can buffer you from liability claims stemming from a current or former employee's accusation of harassment, discrimination, wrongful termination, or retaliation. If your business is threatened by a lawsuit, EPLI can help you pay for legal fees.
How to Get Convenience Store Insurance
Purchasing convenience store insurance can give you peace of mind and confidence in knowing you're getting coverage against a variety of hazards and risks. Give us a call today or fill out out online form to learn more about the bespoke convenience store insurance solutions available through AmVenture.