What could be better than cold ice cream on a hot summer’s day in Arizona? It is little wonder that ice cream parlors are a popular gathering place in this state. If you are the owner of one of these businesses, investing in a good ice cream shop insurance policy can help it stay profitable in times of trouble.
When it comes to any kind of insurance, local independent agents can offer trustworthy guidance and advice, and can help you find the policies you need at the most competitive prices. Find an insurance agent near you to start comparing customized ice cream shop insurance quotes.
What Is Ice Cream Shop Insurance?
Ice cream shop insurance is a general term used to describe a business owners policy (BOP) or business insurance policy package that is designed to meet the specific coverage needs of businesses that sell ice cream and other delicious frozen treats.
How Much Does Ice Cream Shop Insurance Cost in Arizona?
The cost of ice cream shop insurance can vary from one business to the next. Rates are calculated according to the following considerations.
- Your ice cream shop’s expected annual revenues
- Whether you own or rent your ice cream shop’s building
- The value of your ice cream shop’s property
- The age and quality of your business equipment and machinery
- The number of workers you employ
- The coverage options you want to include in your policy
- The crime rate and weather risks where your ice cream shop is located
Every insurance provider has its own way of assessing risk and calculating rates. Comparing customized quotes from a few competing insurance providers enables you to choose the coverage that is offered at the most affordable price.
What Does an Arizona Ice Cream Shop Business Owners Policy (BOP) Cover?
If you have a small privately owned ice cream shop, your most economical choice is to purchase a business owners policy and then supplement it with additional insurance policies as needed.
Your BOP can provide you with three types of coverage.
- Commercial property insurance: This covers the cost to repair or replace your business-owned property if it is lost or damaged due to a covered event. Here are examples of covered events that may affect your shop in Arizona.
- Monsoons (excluding the flood damage they may cause)
- Accidental fires and wildfires
- Property crimes like theft and vandalism
- Commercial general liability insurance (CGL): This covers expenses like court costs, legal fees, mediation, settlements, and judgments if your ice cream shop is on the wrong end of a liability lawsuit. It includes the following.
- Premises liability insurance: This can cover your ice cream shop if a customer or other third-party is injured in an accident on your business premises.
- Product liability insurance: This can cover your ice cream shop if the food or drink products you are serving are somehow contaminated and caused your customers to get sick.
- Advertising liability insurance: This can cover your shop against lawsuits related to marketing errors like copyright infringement and false advertising.
- Coverage against accusations of libel or slander
- Business interruption insurance: This provides a continuation of income if your ice cream shop must remain closed for an extended time while making repairs following a covered event like a windstorm or fire.
The coverage offered by your BOP can serve as a solid foundation for your ice cream shop insurance policy package.
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What Else Can Arizona Ice Cream Shop Insurance Cover?
In order to ensure that your business is fully covered, you will need to add a few supplemental policies to your ice cream shop’s business owners policy. Here are examples of some of the commercial insurance products you may want to consider including.
- Equipment breakdown insurance: This can cover the cost to repair or replace your well-maintained business machinery, like freezers and ice cream makers, if they experience a mechanical malfunction. It can also cover business losses related to mechanical failures.
- Spoiled food insurance: This is often included with your equipment breakdown insurance but may need to be purchased separately. It can cover your losses if your ice cream and other food products are spoiled due to a failure of your cooling systems and must be thrown away.
- Employment practices liability insurance: This can cover your ice cream shop if a current or former employee makes an accusations of illegal employment practices such as harassment, discrimination, or wrongful termination.
- Workers’ compensation insurance: This can cover the treatment of injuries and disability pay if your workers are hurt on the job. If your ice cream shop has at least one employee, you are required by Arizona state law to carry this insurance.
- Commercial flood insurance: This can cover property loss and damage caused by floods. It is important because flood damage is specifically excluded from your commercial property insurance coverage, even if the flooding is the direct result of a covered monsoon.
- Commercial earthquake insurance: Some parts of Arizona have a fair to moderate chance of experiencing earthquakes. If your business is at risk, you may want to add this coverage to your policy since your commercial property insurance will not cover damage caused by seismic events.
It is important to review all of your commercial insurance coverage options when deciding which are a good fit for your Arizona ice cream shop.
Why Work with an Independent Insurance Agent in Arizona?
When you are shopping for the best insurance policies to cover your ice cream shop, a local independent agent can help. These experienced agents are available to answer your insurance-related questions and can save you time and money by obtaining a selection of customized quotes on your behalf.
Getting advice from an independent agent is free. Get started by arranging a one-on-one consultation with one of the more than 200 independent insurance agents who have offices in Arizona.
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