Why Is Hardware Store Insurance a Necessity?

Choosing the right insurance for your hardware store is crucial, as it is the best way to protect your investment. As hardware stores contain several tools and supplies that can harm both employees and customers, it is vital to have the perfect coverage in place.

Here are some hardware store insurance policies to consider:

Property Insurance

Natural disasters can’t be prevented. But having a property insurance policy will give you the confidence to face such circumstances. Hardware store property insurance will help in-store repairs and replacement of destroyed goods during any disaster. Also, property insurance will help you during accidents, such as fires due to equipment failures or flammable chemicals.

General Liability Insurance

Running a hardware store puts you at risk of liability lawsuits from bodily injuries and damages caused to a customer’s personal property. If a customer gets hurt in your store from any equipment you sell, you may have to face lawsuits. General liability insurance covers such instances. It also includes completed purchases where the products you sold caused injury or property damage to a customer.

Crime Insurance

Most retail businesses, including hardware stores, are prone to theft and vandalism, even if they sell small tools or machinery. In some cases, dishonest employees can also cause significant damage to your store. A crime insurance policy will make sure your store and assets are protected.

Insurance for Workers’ Compensation

Your employees are more likely to get injured than your customers, as they are working with potentially damaging tools and components. A workers’ compensation policy will protect all your employees from any bodily damages that can happen at your store. This policy will ensure that the medical expenses and missed income during the treatment are compensated.

These are some of the essential insurance policies a hardware store needs. Do you have additional questions about your store coverage? If so, contact the experts at John E. Peakes Insurance Agency. We are ready to assist you with all your hardware store insurance needs today.

By John E. Peakes Insurance Agency

Since we opened in 1969, John E. Peakes Insurance Agency Inc. has provided personalized insurance solutions for local families and businesses. As an independent agency, we can offer our clients a wide range of coverage options from over 30 carriers. From homeowners and auto insurance to business coverages such as commercial property and general liability insurance, we have the policies that you need.

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