The requirement of a handy insurance policy is more for small business dealers as the possibility of the business getting doomed completely is always
The requirement of a handy insurance policy is more for small business dealers as the possibility of the business getting doomed completely is always there. Calamities arrive uninformed and we do not have any control over these.
There are several insurance policies designed solely for the purpose of business people who involve in daily cash businesses. While some people may think twice before opting for several insurance policies in a year for a particular business, the loss that one faces after going bankrupt in certain business overweight the premium costs. Each business has its own special need and insurance of special type needs to be designed for each type of business. The clothing boutique business is no different.
Clothing boutique industrialists need to think twice before investing their hard earned money into insurance. Here are few of the insurance policies that one should opt for if they are into clothing store/boutique business.
General Liability Insurance
If you have a direct dealing with customers, then this sort of insurance is required even for the tiniest of businesses. The chances of a customer getting hurt within your premises or a pin from your garment getting pricked or any other similar incident can attract some money from your pocket. A general liability insurance policy covers all these mishaps which you do not have any control over.
Clothing Boutique Equipment Breakdown Policy
As the name suggests this insurance policy provides coverage of the equipments that are used within the premises. The system in which all records of the business are kept and even the cash register used in the store are covered. If the cash register breaks down due to some electricity break down, the business lost is also covered during the period.
Workman Compensation Policy
Workers are required in all types of business and a workman compensation policy provides coverage for the accidents that might happen to the personnel working in the clothing boutique. An employee may accidentally trick down the aisle or might hurt his fingers during work; a workman compensation policy comes into play when such unforeseen accidents happen during working period.
Theft Insurance For Clothing Boutique
All business enterprises are susceptible to the risk of theft and burglary. A clothing boutique is no exception. Sometimes shoplifting and theft can happen when adequate measures of safety are not taken. The losses that happen to the boutique due to theft can be covered under this policy. However insurers do not give coverage for acts of negligence.
Commercial Auto Insurance Policy
This is a relatively new type of insurance which many businesspersons might not have heard of. You may not be delivering clothes at the doorstep but you definitely want to transport your clothing items from your boutique to store. A commercial business auto insurance policy covers the vehicle on duty from vandalism, theft and accidents.
Business Owners Policy
The financial burden of losing assets is always there for small business units like a clothing boutique. Business owners policy is for all the equipments that you use in your store, the garments that you prepare and even the store or physical property that you own for running the business. The entire charges of repairing and fixing such losses are covered by the insurer under a BOP.
If you are into the business of selling and making apparels then keep your business protected by keeping all these policies handy and remain assured that you never run into financial stress.