Vacuum Cleaner Store Insurance

Small Business Insurance for Your Vacuum Cleaner Store

Vacuum cleaner store

Everything the public needs to keep their carpets clean can be found at your vacuum store. You’ve probably worked hard over the years to help your neighbors buy and repair vacuum cleaners, as well as take care of other floor care needs. Now it’s time to focus on ways to keep your vacuum shop running for many more years. Begin planning for the future with a high quality small business insurance portfolio that can take care of your business when unexpected challenges pop up. 

Vacuum Store Industry Facts

  • About 38% of consumers spend up to $500 on robotic vacuum cleaners
  • The vacuum market is expected to grow 1.2% annually (2019 - 2023) 
  • Vacuum cleaner sales totaled $7 Million USD (2019) 

What Could Possibly Go Wrong at a Vacuum Store? 

Accidents happen when you least expect it and even when you try hard to avoid them. Small businesses, like your vacuum cleaner store, are vulnerable to a variety of different claims. These allegations can take a toll on your business finances, as well as your time and reputation. That’s why it’s so helpful to have a complete commercial insurance portfolio in place before something unfortunate occurs. 

Without business insurance, your business would have to find a way to cover the damages out of pocket. What would you do in each of these examples?  

  • Customer injury: It’s snowing outside and your shop’s tile floors get slippery. A customer falls while visiting your shop and breaks their ankle. How would you pay for the patron’s medical bills, missed wages, as well as pain and suffering? 
  • Disgruntled employee: An ex-employee says your store manager unfairly blocked them from getting a promotion. The former employee files a discrimination lawsuit as a result. You’ll need to hire an attorney to defend your business. How would you pay for the legal fees? 
  • Water Damage: You’ve just gone through one week of intense spring thunderstorms. Now the sewer is backing up into the stock room where you keep vacuum supplies and you’ll have to clean up and replace the damaged merchandise. How will you pay for everything? Will this expense set back your profits for the month? 

Small business owners, like yourself, have been known to spend a lot of cash resolving these unfortunate issues. The businesses that already have commercial insurance in place typically recover much quicker from these types of mishaps.  

Talking with an independent insurance agent will help you figure out which business insurances will be best for your vacuum cleaner store. 

Protect All the Vacuum Cleaners with Property Insurance

All the vacuums in your shop represent your biggest asset. After all, if you don’t have any vacuums, then there’s nothing to sell. So it’s really a good idea to protect your inventory with the right insurance plan. 

Your independent insurance agent will probably want to talk with you about:

  • Building insurance: If your vacuum store is in a building you own, then you may want to consider this type of coverage. Damages to the physical structure of the store from things like vandalism, wind, or fire are covered. 
  • Property insurance: All your vacuums and vacuum accessories, cash registers, office equipment, and shelving will be covered under this policy. Basically everything the business owns within the store will be protected. Any merchandise or equipment that you store in another location will need to be covered under a second property insurance. 
  • Backup of sewers and drains insurance: Backed up drains and sewers can cause water damage, and the same with sump pump failures. This coverage will give you financial resources needed to pay for water cleanup and get you back to selling vacuums. 
  • Flood insurance: Generally, commercial insurance policies do not cover flood damage. If flooding is a concern for you and your vacuum cleaner shop, be sure to speak with an independent insurance agent about FEMA’s National Flood Insurance Program.
  • Earthquake and hurricane insurance: If your vacuum store is in a region of the US where hurricanes and earthquakes are common, your insurance agent may recommend this policy. 

An experienced independent insurance agent in your city can customize your store’s commercial insurance package. Perhaps you’ll want to buy some (or all) of the coverage choices mentioned here. 

More Business Insurance Options for Your Vacuum Shop

Business insurance that covers your property and offers liability protections is a great foundation. From there, you can add many other commercial policies to increase your peace of mind. 

For example, your vacuum store may find some of these plans to be very helpful: 

  • Workers' compensation insurance: Almost every US state expects businesses to take out workers’ compensation insurance. This coverage pays for a portion of lost wages and all the medical treatments for an employee who gets injured on the job. 
  • Employment practices liability insurance: If your vacuum store is sued by an employee claiming they were wronged by your business, you can rely on this type of coverage for help. This policy will cover legal fees and court costs for things like allegations of discrimination, harassment, or wrongful termination. 
  • Employee dishonesty insurance: You can turn to this coverage when a dishonest employee does illegal things like stealing or embezzling. This policy will help make you whole if you’re in this unfortunate situation. 
  • Cyber liability insurance: In today’s world it’s not unusual for a business to find their computer system hacked or their credit card device compromised. Should this happen to your vacuum store, then you’ll be glad to have cyber liability insurance available for assistance. 

Benefits of an Independent Insurance Agent

Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working for you. Find an independent insurance agent in your community here.

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