Convenience Store Insurance
Specialists in Convenience Store Insurance serving all of Atlantic Canada.
You have worked years to establish your Convenience Store business, or maybe you are just starting up a new venture as an owner of a Corner Store. Either way, now all you need is the perfect and tailored Convenience Store Insurance policy to make sure all your hard work and planning won't get tossed the curb in a fraction of a second.
Since they first popped up in neighborhoods, convenience stores have been the first place people head when they don't want to waste time picking up a an everyday item. And that's the charm of your store; it's set up to offer people just that snack or item they need to get going.
You already know that owning a convenience store brings with it a tremendous amount of risks. Theft, assaults and vandalism are just a few of the crime related risks not to mention equipment damage and clients injuries while being on your property. These are just a handful of the risks you face on a day to day basis. Any one of them could put you out of business overnight.
A convenience store can house all kinds of add-on services, like; a gas bar, a restaurant, lottery ticket kiosque, car wash, dry cleaners, liquor store... and the list goes on! Each of these setups presents its own set of hazards for which a more specialized insurance coverage is in order. The trick is to be ready for anything that could happen.
What kind of protection do you need?
First things first... you need to create a list of property values, including your building, contents, and stock/Inventory. Then it is important to attempt to identify potential legal liability hazards for your particular store (GoToInsure.ca can help with all this!). Only experienced brokers can verify if the following protections are needed for your Convenience Store:
- Property Coverage
- Commercial General Liability
- Liquor Liability
- Loss of Income Coverage
- Umbrella Liability
- Pollution Liability
- Employee Dishonesty
- Food spoilage
- Glass Breakage
- Lock replacement
- Lottery Tickets bonds
- Non-Owned auto coverage
- Power Interruption
- Sign coverage
A brief description of General Liability
General Liability is a broad level of protection against any unintentional harm to individuals or the property of others that either you, your employees, or the products you sell may unwittingly cause during the course of running your convenience store. The need for liability insurance grows as your business grows, but both big and small operations require this most basic of coverage. General liability can protect you from everyday hazards with customers and surprise problems that aren't always considered in advance, such as advertising liability.
Don't want to spend big bucks on insurance?
If you are starting a new convenience store business or if your corner store is already established, here are some factors that insurers look at to price your policy;
- Deductibles - When you increase your deductibles your premium goes down. However you want to be certain that you can cover that deductible if the time comes.
- Location -Proximity to the fire hall or a fire hydrant generally means a discounted rate.
- Construction Type - Stores built with more fire-resistive materials - such as concrete and steel versus wood - benefit from reduced premiums.
- Year of Construction - When your building is of a newer construction, this will be to your advantage as well. Newer buildings generally mean important features like plumbing, electrical and roofing are in new shape and up to the latest building code standards.
- Security - A monitored security alarm system will make a difference on your premium. Some companies won't cover you for theft if you don't have a functioning security system in use. An automatic sprinkler system can mean significant improvement to your insurance rate.
- Claims history - Insurers generally avoid insuring stores with a high loss history. Those who do insure higher-risk stores will charge a higher premium and usually require a higher deductible.
GoToInsure.ca and our Commercial Insurance brokers have loads of experience with Convenience Store. We can minimize your financial exposure by tailoring your coverage to your specific needs. And, because we are an independent broker, we have access to many insurers that offer different products and pricing.
Why spend another minute worrying if you are properly covered, or if you're paying too much! We'll revise your current policy or get a new quote to see if you're currently paying too much. We know how busy you are, so we will make it as simple as possible, so you can get on and do what you do best. Call us today!