Apron suppliers are generally engaged in selling aprons and accessories to companies and individuals. Apron suppliers generally operate as catalog or online retailers, rather than brick-and-mortar shops.
If you operate an apron supply company, your products may include:
- Bib aprons, bistro aprons, cobbler aprons, and waist aprons
- Aprons for chefs, hostesses, waiters, butchers, and bar tenders
- Industrial aprons
Owning an apron supply company is likely to be the culmination of years of hard work and the investment of your personal time and money. In order to protect your livelihood, you need to understand the types of risks that you face and how you can protect your assets and move forward when things go wrong.
Business insurance tailored to your unique risks can help you recover from simple claims for slips and falls on your premises, and even from the complete devastation caused by a fire or a tornado.
An independent insurance agent in your city can help you find customized business insurance solutions that fit your needs and budget.
Why Do You Need Apron Supply Store Insurance?
If you own an apron supply company, you face a variety of business risks. One of your biggest concerns is damage to your physical assets, including the inventory of products that you sell. Most of your products are made of highly flammable materials, increasing your fire risk and the devastating damage that can occur.
What’s more, a severe weather event, a burglary, or vandalism can diminish or entirely destroy your inventory, leaving you no option but to pay to replenish it if you want to stay in business.
And if someone is injured on your premises or as a result of using one of your products, you can be assured that a costly lawsuit is not far behind.
In addition, any type of online retail or wholesale operation can face losses due to:
- Loss of income due to a catastrophic or unexpected event
- Equipment damage or breakdown
- Employee theft
- Employee lawsuits related to discrimination or other claims
- Cyber breaches (data breach of your online store)
What Does Property Insurance Cover?
Cookie-cutter insurance coverage is not sufficient for your apron supply company. You need a package of business insurance policies that are tailored to your unique risk exposures.
Your first major risk is physical damage to your buildings (warehouse, office space, distribution center) or inventory caused by unexpected events like fires, lightning, tornadoes, wind, and hail.
You need property insurance to cover these risks:
- Commercial property insurance covers your buildings and their contents, including computers, inventory, equipment, furniture, fixtures, and more. It helps you rebuild or make repairs when unexpected events—like a fire or severe weather—destroy your merchandise and your physical space (structure).
- After a property loss, you’re likely to need some time to replace your inventory and office equipment, and rebuild your warehouse and other spaces. Business interruption coverage compensates you for lost business income and pays for certain operating expenses if you must temporarily close after a covered loss.
What Does Liability Insurance Cover?
You are responsible for compensating any customer or member of the public who gets injured on your property or as a result of buying something from you.
Commercial general liability (CGL) insurance pays for claims of bodily injury and property damage to third parties due to your negligence.
Your CGL policy offers two specific kinds of coverage:
- Premises liability coverage protects you when someone gets injured or sustains property damage while on your premises. This comes into play when you have a simple slip-and-fall incident on your premises (e.g., a supplier or member of the general public gets hurt while visiting your business).
- Products and completed operations coverage protects you when someone is injured or sustains property damage after coming into contact with a product from your store or as a result of your services (completed operations).
Claims for product-related damages are usually related to manufacturing or production flaws, design defects, or defective warnings or instructions. If you are negligent—and even if you are not—you can be sued and required to pay for medical costs, compensatory damages, attorney fees, court costs, and more.
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What Other Types of Insurance Do Apron Supply Companies Need?
You might also want to consider endorsements (coverage add-ons) to your basic apron supply insurance policies. Or you might need some additional stand-alone policies that provide the following types of coverage:
- Commercial umbrella insurance provides excess liability protection to any of several other policies you might have. If you’re faced with an expensive lawsuit that exceeds the limits of your commercial general liability policy, your commercial umbrella policy kicks in with higher coverage limits.
- Worker's compensation insurance is typically required for any business that has employees. It pays for lost income and medical expenses for employees that are injured on the job. If a warehouse employee is injured while packing an apron order for shipment, worker's compensation insurance pays for related medical costs and compensates the employee for time away from work.
- Crime coverage protects your business if an employee or a group of employees engage in theft, forgery, or fraud that damages your business. It also offers coverage in cases of shoplifting and vandalism.
- Sign coverage pays for damage to outdoor signs that are not attached to your building when the damage is caused by weather, vandalism, fire, etc.
- Utility interruption coverage provides income protection if you are unable to operate due to a covered utility (water, electrical) interruption.
Why Is Cyber Liability Insurance So Important?
Cyber liability insurance is necessary for any retailer or wholesaler, especially those that sell products almost exclusively online.
Cyber liability insurance provides coverage in the event of a data breach involving your business. Depending on the type of policy that you purchase, it helps you protect your business and your customers’ privacy by paying for investigative expenses, notification expenses (the cost to notify your customers of the breach), future credit card and fraud monitoring services for your customers, your legal defense, settlements and judgments, and even PR and other related expenses.
How Much Does Apron Supply Insurance Cost?
Insurance for an apron supply company can range from several hundreds of dollars per month to thousands. It depends on:
- The size of your business
- The number of employees
- The value of your physical assets, including buildings and inventory
- The types of coverage and amount of coverage that you need
Your independent insurance agent can help you get coverage that meets your needs and budget.
Find and Compare Quotes
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.
Benefits of an Independent Agent
Independent insurance agents simplify the search process for finding the right apron supply 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.
The Lowdown on Online Quotes
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.
TrustedChoice.com Article | Reviewed by Paul Martin
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