Bakery Store Insurance
When you own a small bakery shop many of your regular and new customers are going to be attracted by the delicious smell, warm croissants, the taste of freshly made cakes, loaves of bread, cookies, and cupcakes. Probably you’ll get waves of clients every day entering the shop to get a delicious breakfast or a sweet treat from your bakery in the afternoon.
Your business is now growing day by day, and your bakery shop is on its way to being a successful company. Now let’s say that one unfortunate day one of your frequent clients enters and, while walking to the counter, he slips and falls. Are you covered for this kind of event?
When someone starts a small business, more often than not, they don’t think to get an insurance policy, maybe it’s because they tend to believe that business insurance will not be necessary or they see it as a significant outcome.
A monthly or yearly expense, as opposed to a strategic investment you’re taking, protecting your company and its assets. Assets mean income, therefore if they are unavailable you won’t generate the same amount of money you would if you had them.
So remember, it’s always a great idea to ensure your assets because they represent the primary source for the income your business will perceive.
Getting the right business insurance will help your bakery prevail through liability claims. Such as property damage and personal injuries that you could be responsible for and most important will prevent any loss of income for your bakery shop.
If you are looking to learn more about the business insurance that fits your needs keep reading.
The right coverage for your bakery
There are many types of bakery shop insurance policies that protect your business from different damages occurred to your clients, vehicles, equipment, products or building.
When you have a General Liability Policy, it will cover you for legal expenses, medical payment for the injured client and any other sort of compensation which you are held responsible and accountable.
In another scenario, let’s say that while you bake a batch of cookies for your customers, you may have suffered multiple burns in your hands and arms due to a sudden malfunction of the oven, If this happens you’ll need to be covered by two policies or a Business Owners Package, best knowns as BOP.
First, the General Liability Policy will cover all or most of the damages this accident could cause. Meaning that if you have medical bills coverage, you will not have to worry about your injuries or the payment of the treatment. Second, you’ll need an Equipment Breakdown Insurance that will help you with the expenses of getting a new oven or the repair of it.
As an owner, if there was a fire and it caused damage to your building, you will notice that Property Insurance is required. In this case, your bakery shop’s structure and contents can be protected, and you will have assistance with the cost of repairs or reinstatements.
If one of your new equipment presents a malfunction that damages your goods and your regular customers get food poisoning you will need a Product Liability Policy that will protect you from third-party claims or lawsuits for any bad product sold and a Spoilage Coverage that will help you cover the cost for the replacement of your assets.
Maybe you were hired to cater a birthday party, and now your assets are on the move. You will be driving safely to your destiny with the Commercial Auto Insurance protecting your business vehicle in case of an accident. This type of policy covers the repairing of your car and others involved in a collision. Also offers coverage for theft and vandalism.
As an owner of a bakery shop, you should take into consideration that if your company has insurance coverage, it automatically becomes more trustworthy and it’s more likely to succeed even through a worst-case scenario.
Are you’re still unsure about what policy your bakery shop insurance needs? You can get in contact with our agents right now to get a free quote, and clear any doubt that you have, helping you get the insurance coverage that fits your business needs at that moment. Remember that every business is different, so every policy is different for each one as well as the insurance cost. Our job is to help you get the policy that fits your criteria.