RV Part and Accessory Store Insurance

RV Part and Accessory Store Insurance Guide

Protect your livelihood with business insurance.

Find RV part and accessory store insurance

Business insurance helps small businesses protect their assets when they face or property loss or a lawsuit. If you own an RV parts and accessories store, you face some unique risks that can be addressed with a customized business insurance program.

An independent insurance agent can help you get the RV parts and accessories store insurance that you need to protect your livelihood.

Why Do You Need RV Parts and Accessories Store Insurance?  

RV parts and accessories store insurance protects your business from financial losses related to negligence claims, lawsuits, and property damage. When you invest in business insurance, it helps you recover the costs associated with problems such as the following.

  • Third party injuries or property damage that occur on your premises
  • Third party injuries or property damage that occur as a result of a product that you have sold
  • Damage to your building, inventory, and other commercial property due to some catastrophic or unexpected event (e.g., a fire, smoke damage, a severe weather event, vandalism, etc.)
  • Loss of income due to a catastrophic or unexpected event (e.g., you must temporarily close to repair your shop and replace damaged or destroyed inventory)
  • Employee theft of cash or inventory
  • Employee lawsuits related to discrimination or other claims
  • Cyber breaches
  • Fire damage to landlord’s property

A variety of tailored RV parts and accessories store insurance policies are available to help you protect your livelihood.

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What Does RV Parts and Accessories Store Insurance Cover?

You’ll need several types of basic business insurance in order to protect your business.

In order to recover from property losses, you’ll need the following policies.

  • Commercial property insurance: Essential for proprietors who own their buildings or whose business handles a large volume of expensive inventory. Commercial property insurance protects you if a fire, vandalism, smoke, theft, or another type of unexpected event damages your property. It provides coverage for lost inventory, office equipment, computers, and more.
  • Business interruption coverage: Protects your earnings if your business is unable to operate because of damage caused by some type of disruption (e.g., fire, hail, wind, equipment breakdown). This coverage is usually quite affordable and will be invaluable if you are forced to close your doors for a period of time in order to make repairs. It pays for rent, employee salaries, lost income, relocation fees, and more.

In order to recover from negligence claims and lawsuits, you’ll need:

  • Commercial general liability (CGL) insurance: Protects you from costs related to bodily injury or property damage that you or your employees cause to third parties. CGL policies also cover your defense costs, court costs, and court-ordered judgments that you must pay if you’re sued.

An independent insurance agent can help you customize these policies for your unique business.

What Is a Business Owners Policy?

You may want to consider a business owners policy (BOP) if you qualify for one. BOPs are designed for small businesses and include liability, property, and business interruption insurance in one affordable package policy.

If you qualify for a BOP, it can provide all three types of coverage for a more affordable price than if you purchase each policy individually.

Why Do You Need Commercial Vehicle Insurance?

Do you deliver RV parts and accessories to your customers? If so, you need commercial auto insurance.

Commercial vehicle insurance covers your company’s vehicles and drivers (cars, SUVs, vans and trucks) that are damaged or injured in a collision or some other type of event. If you or your employees drive personal vehicles for business purposes, you must have non-owned or hired auto liability coverage to protect your company if an employee is in an accident while out making deliveries.

What Is Product Liability Insurance?

The products that you sell can be dangerous to other vehicles, pedestrians, bystanders, and all kinds of personal property. If a part that you sell is faulty and leads to injury or death of an RV driver, passenger, or bystander, your business could be financially responsible.

Any company that participated in bringing the faulty product to market, including the retailer, can be included in a lawsuit and held liable for damages to the user. Product liability insurance covers a business’s financial responsibility for losses or injuries to a user, buyer, or bystander caused by a defect or malfunction of a product. In some instances, product liability insurance may also cover the manufacturer or seller of the product for defective design and failing to warn a buyer of a particular danger.

Your CGL policy or BOP might cover some product liability claims, but that coverage may be limited and insufficient for your needs. Your independent insurance agent can help you determine if you need additional product liability coverage.

What Other Insurance Policies Do You Need?

In addition to the coverage described above, you may want to consider some of the following types of insurance coverage for your business.

Whether or not you need these types of coverage depends upon your specific business needs. A local agent can help you decide which policies are best for you.

How Much Does RV Parts and Accessories Store Insurance Cost?

The cost of your RV parts and accessories store insurance is hard to predict. Your costs are based on factors that make your business unique, such as the location, size, and number of employees that you have.

In general, the types and amounts of coverage that you need to adequately protect your business will determine your business insurance costs.

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Benefits of an Independent Agent

An independent insurance agent who has experience working with RV parts and accessories stores and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous, reputable insurance companies who specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will 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.

Find and Compare Quotes for RV Parts and Accessories Store Insurance

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.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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TrustedChoice.com Article | Reviewed by Paul Martin

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