Insurance & Employee Benefits
Important Considerations in Choosing an Agent to Service Your Stationary Store
Knowledge of the Industry
Fast Certificate Processing
Billing & Finance Options
Access to Multiple Markets
By William F. Schaake, CIC, CRM
Stationary stores typically derive a great percentage of their revenues from walk in traffic. In order to facilitate the needs of the customers, store owners generally keep a large inventory of greeting cards, holiday items, and other gift ware. Due to the seasonal nature of many gift shops, the inventory can fluctuate to a great degree during the holiday season. Because of these changes certain exposures need to be considered for insurance purposes.
Unless the size of the shoe store or foot ware outlet is very large, most commercial general liability insurance is packaged with commercial property coverage. Often times these policies are written on a Business Owners Policy form or for short -
How is the cost of these policies determined?
Business Owners Policies (BOP’s) are usually rated based on the contents limit. Other factors may include location, type of establishment, the building construction, and building area.
Most states have requirements for employers to provide workers’ compensation benefits for their employees no matter what size the business. Workers’ comp provides coverage to reimburse medical expenses and provide compensation benefits to employees as a result of a job related loss. It also provides employers liability to cover third party claims of those financially affected by the injured employee, such as a dependent spouse of the employee or the children. Read more on comp >>
Some states require employers to provide disability benefits to provide ‘off the job’ payments for injuries and illnesses to the employee. Unlike workers comp, the cost of state disability can be shared between the employer and the employee. Read more on DBL, SDI, TDI >>
By William F. Schaake, CIC, CRM © 2012 All rights reserved
What types of coverage are important to consider?
Stationary Stores & Gift Shops
Inland & Ocean Marine
Electronic Data Processing
Personal & Advertising Injury
Monies & Securities
Tenants Fire Legal