Retail Stores

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1. Stock - All of the inventory that is held for sale either on the shelves or in the back room or warehouse should be insured in case they are damaged or destroyed by fire or another insured peril.  Coverage is also usually provided for items if they are stolen or vandalized.  

2. Contents - Coverage for all the other items such as computers, display cases, and furniture.

3. Tenant's Improvements - If you rent your space and and improve the building's value, there is coverage available to compensate for if the unit is damaged or destroyed.

4. Tenant's Legal Liability - If you are renting a location and there is damage to the building as a result of your operations, Tenant's Legal Liability  

5. Business Income - If your business is dependent on a location (such as flooring contractors who also have a retail location), and a fire or other insured peril causes loss of income or increased business expenses, coverage is available to compensate for those expenses and lost income. 

6. Equipment Breakdown Insurance (also called Boiler and Machinery insurance) Coverage for the pieces of equipment that could fail unexpectedly and cause lost income and spoiled inventory.  There would also be coverage for the cost to repair or replace damaged equipment and necessary expenses that occur during the restoration period.

7. Commercial General Liability - Coverage for claims made against you for bodily injury or property damage that arise as a result of your operations.  Liability claims could come as a result of the actions of your employees, products, completed operations, or something else that occurs at your location.  This coverage also helps with financial costs such as defense costs and third-party damage if you are found legally liable.  For retailers, this is often called "Slip-and-fall Insurance".  Regardless of the outcome of a lawsuit, legal expenses and medical fees are usually covered.  

8. Product Liability - Protection against claims alleging property damage or bodily injury caused by a product that you manufacture, distribute, or sell.  The covered damages are typically the result of design, manufacturing, or marketing defects (lacking safety warnings or proper labels).

9. Cyber Liability - If your business owns a website and sells products online, or have any systems such as a POS system or customer loyalty program where customer's information is stored, coverage is needed for if there are cyber hacks and customer's data is stolen.