Insurance for Ohio Convenience Stores
As a convenience store owner, you are providing a valuable resource to your local community that many grocery stores do not offer. Convenience stores offer countless household staples at locations with extended hours, many of which are open 24 hours. This is a service to many, and a necessity for people who work during the typical shopping hours.
As a convenience store operator in Ohio, it is your responsibility to make sure your business is protected. You can do this by making sure there are no gaps in your insurance program. This is where a portion of your operation is unprotected.
One way to make sure your convenience store is protected is by reducing or eliminating your protection gaps. The following are several types of Convenience Store Insurance coverages that will protect your hard-earned money.
- General Liability – protects your business from alleged personal injury or property damage, including protection for products that you sell.
- Liquor Liability – insures against claims for injuries sustained as a result of you selling alcoholic beverages. Please note the standard General Liability policy excludes coverage for such activities.
- Business Personal Property – provides coverage for contents owned by your firm and used in your daily operations, including stock for sell.
- Workers Compensation – provides coverage for accidents or disease arising from employment as prescribed by state laws.
- Business Income – insures you against loss of income caused by a covered peril.
- Employee Dishonesty – covers losses sustained by you due to fraudulent or dishonest acts of employees.
Some additional exposures come from the vast products offered on your shelves.
- Spoilage – insures against loss to perishable stock when caused by a change in temperature or humidity.
- Lottery Bond – The bond protects the state against any monies due to the lottery commission.
- Selling Price Valuation – after a covered loss occurs this valuation method covers both the cost of your stock and the normal profit you could have earned. Most property policies will pay only for the costs to purchase lost products without reimbursement for profit you would have normally earned.
Having a Convenience Store Insurance program in place will protect your business from potential claims. Below are just a few of the many claims possible.
- A customer slips and falls from a gallon of milk that spilled on the floor.
- An employee steals customer credit card information.
- A storm causes a power outage and you are unable to open, causing you lost income.
- A customer gets food poisoning from a hot dog purchased from your store.
- Water gets into a freezer while cleaning the floor and causes the equipment to short out.
- A coffee pot is left on and starts a fire causing damage to the building.
- An employee gets into an accident while driving to the bank to make a deposit.
Prevent worrying about coverage gaps, by contacting us to find out about a Convenience Store insurance program. We have the knowledge and experience to create a program tailored to your business. It is our business to uncover and resolve potential insurance coverage gaps and to reduce your insurance costs by creating a safe, minimal risk environment.
At L. Calvin Jones & Co., we have provided convenience store insurance for retailers in Ohio since 1911.