Retail convenience stores across the country endure risks every day. Whether they face theft, vandalism, destructive storms, or other problems, retail convenience stores must properly deal with these issues to avoid harming their business. For retail convenience stores, the out-of-pocket costs to address damage to their business operations or property can be overwhelming, but with a dependable convenience store commercial insurance policy purchased through an independent insurance agent, owners can keep their property and business structure secure.
Retail convenience stores need reliable commercial insurance coverage. Whether they operate a small news outlet on a busy street corner in Brooklyn, New York, a one-stop-shop in Kimball, Nebraska, or a corner store in Ann Arbor, Michigan, retail convenience stores need commercial insurance they can count on to safeguard their company. If their business is family-owned, or corporately operated, quality commercial insurance coverage through an independent insurance agent assures that in case of the unexpected, their company’s operations can continue.
By contacting a local independent insurance agent, retail convenience stores can determine the type of commercial insurance that is best suited to their needs by reviewing the factors that should be considered in selecting coverage. Depending on their company’s organizational structure, location, and scale of operations, an independent insurance agent can advise them about the right commercial insurance policy options for their business. With commercial insurance purchased through a seasoned independent insurance agent, retail convenience stores can rest assured that their storefront and structure are protected.
Some companies have recently revised their business owners, commercial package, and workers’ compensation guidelines for convenience stores. These new guidelines apply to policies issued by independent insurance agents. The purpose of the revisions is to target risks that they are interested in writing in its commercial insurance policies for convenience stores.
The new guidelines for convenience store business owners’ line of business provide that for some companies, stores that are open 24 hours are not eligible. Also, they mandate that businesses are not eligible if their Best Places crime score is above a certain limit.
For commercial package insurance, the updated guidelines state that 24 hour operations are acceptable if a convenience store business has a $1,000 minimum crime deductible, and certain exclusions in its policy, and no beer or liquor sales after 2 a.m. other companies the new guidelines indicate that a higher Best Places crime score will be considered in issuing policies to convenience stores, but, that in such a case, a convenience store business’s Riskmeter must be acceptable.
As to workers’ compensation coverage in business insurance policies, the updated guidelines provide that convenience stores are not eligible for coverage if they are open after 10 p.m. . . . if owners have firearms on the premises. An independent insurance agent can explain these new requirements in greater detail to convenience store owners who may be impacted by the changes.
In meeting with an experienced independent commercial insurance agent, knowledgeable about the ongoing changes in the law and in insurance company’s underwriting guidelines, convenience store owners can rest assured that their business insurance policies will be up to date and effective. Then, in the event of an unexpected loss, or liability, their store, and its property and assets, remain protected.
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