Holiday Shopping and Retail Insurance

While some people begin holiday shopping as early as July, November truly kicks off the holiday shopping season. Originating in the 1950’s & 60’s, Black Friday sees some of the largest holiday shopping crowds of the year.

Being in the profit margins and having more traffic is great for business owners, but it certainly comes with its own specific risks. As a business owner, the decisions you make have multiple impacts on your store.

Those decisions also include knowing what protection your business needs. Retail insurance is the key to a safe and successful holiday season.

The holiday shopping season brings increased opportunities for things to go awry. From increased traffic, extended business hours, and more hazards, shops and stores face higher highs and lower lows. Businesses can't entirely prevent the bad that comes with the good, but the right policy can help keep doors open. Retail insurance protects businesses in the wake of shoplifting, property damage, customer injuries, and more! 

Let’s break it down. Retail insurance offers coverages like: 

Financial Protection: While the holidays are a time of joy and community, bad things can still happen. Retail insurance for your store helps cover unfortunate costs like lawsuits, property damage, stolen inventory, and other unexpected expenses.

Business Continuity: The holiday season is a key time for business owners, and keeping your store running is imperative. Expenses and lost income make it more difficult to get back on your feet. Retail insurance helps cover some of these costs.

Shoplifting or Theft: In the unfortunate event of shoplifting/theft, stock must be replaced and damages repaired. Proper retail shop insurance keeps shelves stocked and ready for shoppers.

Customer Injury: Increased traffic and wintery weather are never a great mix. From slippery falls to icy entryways, customer injuries are inevitable. If injuries occur, Retail business insurance covers medical costs and legal fees.

Fire of Flood Damage: Decorations, candles, increased outlet usage, and more can lead to higher chances of fire. Having a comprehensive insurance policy for your store helps get your doors reopened faster.

Retail insurance for your store is designed to get your doors reopened. These are just some of the benefits of having the right policy for your business.

Make sure to meet with your agent every year, to make sure your retail store has the coverage you need. Business changes throughout the year, and new coverages are introduced frequently, so touching base with your agent helps keep your coverage up to date.

The holidays bring with them joy but also increased risks to your store. Retail insurance helps cover your business, so you can focus on spreading holiday cheer.