As the owner of a Fish Store, you’ll probably be selling more than exotic fish, tanks, and accessories to fish fanatics. You also have the chance to build a significant client base focusing on people interested in large aquariums for restaurants, doctor’s offices, among other public spaces. It’s common to find plastic plants and decorations, gravel, fish food, and filters to keep the customer’s tanks clean, and lively looking.
We know that running a Fish Store can be challenging, but when you are passionate about fish, it can be a rewarding and profitable investment in design and animal care. After gaining the trust of your clients and the investment you have made in aquariums and goods, don’t you think that it’s a good idea to protect them against unexpected events? With Fish Store Insurance, your business will be protected against claims thrown at you for liability, bodily injuries, and legal costs, so you can have the peace of mind you need to swim in the seas of business success.
General liability insurance (GL)
You need a General Liability policy guarding your Fish Store against any lawsuit regarding an accident that occurred in your business premises that led to injury or personal property damage. For example, if there’s a water spillage on the floor after one of your employees changes the water in a fish tank, and one of your regular customers enters the store, slips, and falls suffering injuries from it. The General Liability insurance will cover all legal expenses resulting from the claim and provide you with an attorney. Below are the standard coverages for General Liability.
General Liability $1,000,000 per Occurrence/$2,000,000 Aggregate
Advertising Injury $1,000,000
Products and Comp. Operations $1,000,000
Damage to Property $50,000
Business property insurance
This policy offers coverage for everything that would fall out if you shook the building upside down. In the case of a Fish Store, this would include the tanks, decorations, inventory, tables, building attachments among others. Business Property Insurance covers the following perils:
- Water damage.
- Weight from ice and snow.
Workers Compensation insurance
If you have employees working at your Fish Store, you need to provide them with legal compensation in case they suffer an injury while doing the job. For example, if an employee works handling inventory and taking care of the fish living in your store, he could suffer a back injury picking up heavy boxes or maybe get a severe cut from a broken tank. The Worker’s Comp Coverage would cover the medical costs of these injuries and give you the peace of mind you need because you cannot be sued for this type of accident.
Products liability insurance
The Product Liability Policy offers coverage to claims made from clients that present some form of personal injury caused by one of the products sold at your business. If you sell pet food, products, or supplies at your Fish Store, the risks of failure are common. When a product causes damage to the client, they can sue you for compensation. The Products Liability Policy protects you from experiencing financial troubles as a result of the legal costs.
Commercial Auto Insurance
If your business uses a vehicle to replenish stocks or do business errands, you need Commercial Auto Insurance coverage in case your vehicle is involved in a car accident. It includes the following coverages for your business vehicle:
Auto Liability coverage: Pays for the victim’s damaged property and medical bills.
Medical Payments Coverage: Medical expenses are covered for everyone involved in the event, regardless of who’s at fault.
Physical Damage coverage: Includes Collision insurance and comprehensive insurance. It provides coverage for repair or replacement in the event of a collision, thieving, vandalism, weather conditions, or from any damage suffered not in a collision.
Uninsured Motorist Coverage: Pays for medical expenses from a vehicle collision caused by an uninsured or underinsured driver.
Cyber Liability Insurance
Cyber Liability Insurance is crucial if you sell fish and supplies online. Although you have taken numerous precautions to secure your clients’ online transactions, skilled hackers know how to violate high-security measures. Protect your Fish Store and reputation by acquiring Cyber Liability Insurance.
Store Crime Insurance
If you run a Fish Store one of the most significant risks for your assets is theft, vandalism or shoplifting, fraudulent payments, embezzlement, and employee dishonesty. With such an expensive inventory, you should have the Crime Insurance Policy protecting your business to cover any loss of revenue resulting from this type of event.
Now that you know the risks your Fish Store face and the policies to cover them call our agents right now and get a free consultation today. We are ready to solve any doubt that you may have left and provide you with the best quote for your Fish Store.