
Why do I need retail insurance?
Your priority as a business owner is not just to make sales, but to protect your business and livelihood. The nature of the retail industry means that certain aspects of your everyday operations put you at risk for loss of income.
Things like:
Retail insurance helps protect your storefront and your inventory from damage and loss. The National Retail Foundation found that shrink, or loss associated with theft, shoplifting, error or fraud, cost the industry $46.8 billion in 2018 (Forbes).
Additionally, your retail insurance can protect your business from liability in customer accidents, employment practices lawsuits, and more depending on your coverage.
Things like:
- Customers coming and going
- Managing inventories
- Receiving/making deliveries
- Working with vendors
Retail insurance helps protect your storefront and your inventory from damage and loss. The National Retail Foundation found that shrink, or loss associated with theft, shoplifting, error or fraud, cost the industry $46.8 billion in 2018 (Forbes).
Additionally, your retail insurance can protect your business from liability in customer accidents, employment practices lawsuits, and more depending on your coverage.