By Liam Thomas
When you own a flower shop, you need to protect your inventory, employees, and your business from unforeseen risks. Having insurance can help you do just that. In the event of a claim, having a solid policy can help you get back on your feet more quickly. If you operate a flower shop, keep reading to discover what you need to know about Flower Shop Insurance
Coverage Types
One type of coverage to consider is General Liability Insurance which includes coverage for property damage and bodily injury or death for customers or someone else who comes onto the premises because of something that’s happened at the store. This may be needed depending on where the store is located and what type of items are sold there.
Another type of coverage to consider is Contractual Liability Insurance which covers contractual liability incurred by errors or omissions in fulfilling certain contracts with third parties, such as vendors and clients. This type of insurance is often necessary if you have an agreement with another company because they will be liable for damages caused by their actions or failures to act even if they’re not at fault.
Why is Flower Shop Insurance Important?
A flower shop owners should take the time to evaluate their insurance needs and make sure they have what they need. For example, an owner may choose to purchase Flower Shop Insurance because it’s a necessary business expense in case of a claim. When you own a flower shop, there’s always the risk of inventory loss or damage that could lead to expensive lawsuits or liabilities.
If you operate a flower shop, it’s important to find out if your current policy includes coverage for your inventory. If not, you may want to consider purchasing additional coverage through your policy or another type of insurance. Make sure that all equipment is also covered by your policy and don’t forget about employee coverage as well!
What Does Flower Shop Insurance Cover?
A flower shop insurance policy can help you on a number of fronts, including protecting your inventory and equipment. For example, if an employee accidentally breaks a $2,000 vase while arranging flowers, you would have the funds to replace it without stressing out about the money. Your insurance policy will cover the broken vase and pay for your employee’s wages while they can’t work as a result of their injury.
Flower shop insurance also protects your business against risk in the event of a claim. Let’s say one day you come in to work and find that someone has broken into your store and smashed all of your merchandise and equipment.
Your insurance will help you get back on your feet quickly by covering any damages done to your property, like replacing the broken glass or fixing the painted wall. Insurance also helps protect your employees, too. If one of them is injured at work or becomes ill because of it, then their medical costs could be covered by an employer liability policy from an insurance company.
