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What type of insurance does my boutique need?

Boutique Insurance

Thanks to the beloved Coronavirus, my shopping addiction has now moved online.  However, when I was able to freely walk around downtown in my small city in Indiana, my favorite pastime was visiting all the cute boutiques.  From clothes to trinkets, I wanted it all.  What I wanted, even more, was to find out who the inspired entrepreneur was that owned the boutique.  Becoming an entrepreneur and owning a business is an exciting step in one’s life.  While it is exhilarating, it is quite an eye-opener for all that goes on behind the scenes, such as finances, planning, and insurance. 

Knowing which insurance policies your boutique needs is a vital part of making sure everything runs smoothly.  So, what insurance policies do you need?  

1. General Liability Insurance  

With all your customers rushing in to check out your store, you’ll want to make sure you have coverage if someone slips and falls and becomes injured. 

2. Property Insurance  

The physical structure of your boutique needs to be insured should anything happen to it such as fire, smoke, vandalism, or the like.  It also covers your “office supplies” such as your clothing racks or mannequins 

3. Worker’s Compensation  

worker’s compensation policy would provide wage replacement and medical benefits to an injured employee. Like that time Jennifer dropped a box and broke her foot. 

4. Crime Insurance 

No one thinks their employees would ever steal from them. Unfortunately, it happens all throughout the world at small businesses and large. Suppose your employee Alex was ringing up sales all day. As handles the cash, he improperly rings in the total and pockets some of the money paid by customers. Your crime coverage would assist with paying for the costs associated with the theft. 

5. Cyber Security  

If your boutique stores employee or customer information, you are at risk if you do not have cyber insurance. You only keep paper files you say? Cyber insurance covers data whether it is stored electronically or in paper files. 

6. Auto Liability   

Auto liability coverage for a business is there to protect your employees and vehicles, and others that might be involved in an incident. Say you send Jake out on an errand to make a bank drop. Jake isn’t paying attention and pulls out in front of another car, causing an accident and injuring someone. In that case, there can be coverage afforded if the policy is adequately written.    

 

To make sure you are fully covered and to better understand each insurance policy, fill out the contact form below and Worthy will reach out to you.  

 

Interested in learning more? Please email us at hello@worthyinsurance.com or call 773-945-6000 

Worthy Insurance is a niche broker with a focus on providing insurance placement and risk management services to the Healthcare, Manufacturing, Social Service, and Main Street business communities. Here at Worthy Insurance, we love to provide you with exciting and fun articles to learn more about insurance and how it impacts your life. Visit our other blogs to find more information. 

While Worthy does offer a wide variety of insurance coverages, our main coverages include: property coverage, worker’s compensation insurance, general liability, professional liability, and cybersecurity coverage. To find out the best coverages for your company, use the contact form below so you can be at ease knowing your company is covered. 

 

 

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