Your candy shop sells a variety of confections, from chocolate, hard candy, and fudge to popcorn, nuts, and other treats. Your business is lucrative, and you take great pride in the joy that it brings to kids and adults alike.
But your store is not all fun and games. You need to carefully protect your livelihood from all of the little things—and big things—that can go wrong. With the right business insurance tailored for your candy shop, you can put your mind at ease and focus on what’s important.
Whether you own a single candy shop or a chain, an independent insurance agent in your city can help you find tailored coverage that protects your assets.
Safety concerns, business interruptions, property damage, and lawsuits can have enormous consequences for any retail establishment.
A variety of unforeseen events can lead to devastating financial losses for your small business.
If any one of these things goes wrong, you can be left with a hefty price tag to repair and replace damaged inventory or computers, or pay for an injured person’s medical bills. But a comprehensive set of candy shop insurance policies that address these risks, and more, can help you protect your business for the long term.
Candy shops need property insurance that offers financial protection for physical damage to your building or property and everything that’s inside, including your inventory, store fixtures, computers, and more.
If your store is damaged by a fire, vandalism, or severe weather, your property insurance can help you pay for repairing and replacing damaged property so you can get back on your feet.
Often when you experience a property loss, you’ll also have a resulting loss of income if your inventory is damaged or destroyed, or if you cannot continue to operate while you make repairs to your building, computer systems, or other equipment.
This coverage is invaluable if you are forced to close your doors for some time in order to make repairs. It helps you pay for fixed expenses like rent, employee salaries, lost income, relocation fees, and more.
You need to protect your business, your employees, and the general public from the costs associated with injuries and property damage that are caused by coming into contact with your business or your products.
Most small businesses purchase commercial general liability (CGL) insurance for these types of situations. If a customer is injured in your store or an employee hits a car in the parking lot with a shopping cart, this policy pays for medical bills, repair costs, and other expenses related to the incident. It also pays for your defense and judgments or settlements if you are sued.
Your CGL policy provides broad coverage for a wide range of liability claims. But some types of claims are excluded from coverage or are not sufficiently covered by general liability insurance. You’re likely to need some additional types of liability insurance, including:
You might also want to consider endorsements to your basic candy shop insurance policies or additional stand-alone policies that provide the following types of coverage:
A single-location candy shop might spend around $500 to $1,500 per year on general liability coverage alone.
But this is a broad estimate and does not include property coverage and any other types of policies or endorsements that you might need to fully cover your risks.
In addition, a variety of individual risk factors will influence how much you pay to cover your candy shop. These include the location of your store, the number of employees you have, and the coverage limits and deductibles that you choose.
Some small business owners can get the best rates by purchasing a business owners policy (BOP), which combines commercial liability insurance, commercial property insurance, and business interruption coverage into one affordable and efficient package policy. Other coverage can be added on to complete your comprehensive business insurance program.
An independent insurance agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Independent insurance agents simplify the search process for finding the right candy shop insurance. They’ll walk you through some handpicked policy options and explain the details and options.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.