There are more than 14,000 ice cream shops in the US. Given its warm climate, it should come as no surprise that Mississippi is home to many of them. If you are the owner of an ice cream parlor in the Magnolia State, investing in a good ice cream shop insurance policy may prove beneficial.
When it comes to insurance for businesses, local independent agents can offer you trustworthy guidance and advice and can help you find the coverage you want at the most competitive price. 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 traditional business insurance policy package that is designed to meet the specific coverage needs of ice cream shop businesses.
How Much Does Ice Cream Shop Insurance Cost in Mississippi?
The cost of business insurance can vary from one ice cream shop to the next. Rates are calculated based on factors such as the following.
- The size of your ice cream shop and its expected annual revenues
- Whether you own or rent the space where your shop is located
- The value of your ice cream shop’s property and assets
- The number of workers you employ
- The coverage options you are including in your policy
- The crime rate and weather risks where your ice cream shop is located
- Your ice cream shop’s insurance claims history
Every insurance company has its own way of calculating rates, so comparing customized quotes from a few competing insurance providers makes it possible to choose the policy that is offered at the most affordable price.
What Does Mississippi Ice Cream Shop Insurance Cover?
Ice cream shop insurance can cover against most of the hazards you are likely to face as a business owner in Mississippi. Covered risks include the following.
Most ice cream parlors are small businesses that qualify for the coverage provided by a simple business owners policy.
Whether you find it more advantageous to buy a BOP or a traditional business insurance policy package, you can expect your ice cream shop insurance policy to provide the following basic coverage.
- Commercial general liability insurance (CGL): This can cover expenses like court costs, legal fees, settlements, and judgments, if your ice cream shop is on the wrong end of a covered liability lawsuit. CGL includes the following.
- Premises liability insurance: This can cover your ice cream shop if a customer is seriously injured on its premises, and the injury can be attributed your business's negligence.
- Product liability insurance: This can cover your ice cream shop if the food products you are serving are somehow contaminated and cause your customers to get sick.
- Advertising liability insurance: This can cover your shop against lawsuits related to copyright infringement, false advertising, deceptive pricing, and other marketing errors.
- Coverage against accusations of libel or slander
- Commercial property insurance: This can cover the cost of repairing or replacing your business-owned property if it is lost or damaged due to a covered event like a fire, hailstorm, or property crime.
- 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 tornado or hurricane.
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What Else Can Mississippi Ice Cream Shop Insurance Cover?
In order to ensure that your business is fully covered, you may want to add a few supplemental policies to your ice cream shop insurance coverage. Here are examples of products you may want to consider.
- Equipment breakdown insurance: This can cover repair and replacement costs if your well-maintained business machinery, like freezers and ice cream makers, experience a mechanical malfunction. It can also cover business losses related to these mechanical failures.
- Spoiled food insurance: This is often included with your equipment breakdown insurance but can also be purchase on its own. It can cover financial losses if your ice cream and other food products are spoiled due to a failure of your cooling systems.
- 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. This is true even if the flooding is the direct result of a covered hurricane.
- Employment practices liability insurance: This can cover your ice cream shop against accusations of illegal employment practices such as harassment, discrimination, retaliation, and wrongful termination.
- Workers’ compensation insurance: This can cover cost of medical treatments and disability pay if your workers are injured on the job. If your ice cream shop has at least five regular employees, you are required by Mississippi state law to have this insurance.
When you are deciding which policies to buy, you may want to consult an insurance professional for help making sure that your ice cream shop insurance is not left exposed to any unintentional coverage gaps.
Why Work with an Independent Insurance Agent in Mississippi?
If you are looking for the best insurance policies to cover your ice cream shop, look no further than a local independent agent. These 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. Arrange a one-on-one consultation with one of the more than 200 independent insurance agents in Mississippi to learn more.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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