Burbank, CA (PRWEB) July 30, 2013
USA Business Insurance is announcing that specialized coverages written specifically for retail furniture outlets can now be written under the Business Owners Insurance banner which includes more extensive protection than General Liability Insurance.
Every retail furniture store will have basic General Liability Insurance that covers the company should a customer get injured on the premises and even via a faulty item provided by a third party. For example, a furniture store may sell a recliner and when the buyer lies back the first time the chair malfunctions and causes a neck or back injury. The General Liability Insurance will cover the legal costs and any damages the court finds for the injured party. Most states will not allow a store to open unless it has a minimum amount of General Liability Insurance.
While these types of claims could surely hurt the store’s bottom line if there were no coverage at all, there are other incidents that can cause irreparable harm to the store and its ability to continue to serve the public. Specialized coverages can be written into a Business Owner’s Insurance Policy.
Everyday occurrences that can affect the livelihood of the furniture store are sometimes overlooked when owners are initially sourcing insurance. For instance, pipes break during extreme cold spells; windows break and water pours in during extreme summer storms; roofs cave in from pressure caused by snow, ice, fallen trees and other extreme events. Merchandise can be totally ruined. It was expensive to purchase to stock the store. This is why furniture store insurance is essential to the business owner.
Most furniture stores do not have enough cash reserves to replace broken and damaged inventory. Business Owner’s Insurance can cover replacement costs for any and all inventory. This includes back office hardware and software. Many retail furniture stores have an interior design boutique to assist customers in planning and furnishing their rooms. Many designers use a CAD computer system which can be used to show the client how the furniture will look in specific rooms. A CAD system is expensive. Business Owners Insurance would cover these items as well as any boutique samples.
If Business Property Insurance is included it can cover damages from fires and natural disasters as well as losses from thefts and vandalism. If the furniture store delivers its own inventory to customers, it can cover inventory in transit from these same perils. Loss of income can be written into the policy as a safeguard should a fire or natural disaster happen, or if the vandalism is so severe that the store cannot open until repairs are made.
To learn how general liability insurance and Business Property Insurance can protect retail furniture stores and chains, visit http://www.businessinsuranceusa.com/business-insurance-furniture-stores.
About USA Business Insurance: USA Business Insurance provides coverage for retailers as well as service providers. No company is too small or too large. Professionals who understand diverse business sectors can suggest coverages that are often overlooked.