As an electronics and appliance retailer, you face the same commercial exposures as other retailers while also housing a high-value inventory at risk for theft or damage. On top of that, you may have to deal with customers being dissatisfied or having technical issues with their big purchases that they may hold you accountable for.
To keep your business protected against these risks, you need to have the right insurance policy in place, one designed specifically for electronics and appliance stores.
Commercial businesses can benefit from commercial property insurance if they have a vast amount of office and manufacturing equipment, essential documents, high volume inventory, and landscaping. Commercial property insurance can cover these types of property from perils, such as a natural disaster or theft.
Commercial general liability typically provides coverage in case an injury or damage takes place on a business' property or while a business is operating. For instance, a customer could slip on the floor of your property, or an employee working at someone's home can slip and cause damage.
E&O is a kind of professional liability insurance that can protect employees and companies from claims against negligent work and mistakes made in professional advice or services given. See Professional Liability
The cost of your policy will vary depending on a number of factors including your specific inventory, the size of your store, how many employees you have, and other factors. In general, electronics and appliance retailers will often at least have commercial property insurance, commercial general liability insurance, and business income insurance, also known as business interruption insurance.
If you’re shopping for coverage for your electronics or appliance store, complete the quote request form today. You’ll receive a free consultation where you can have your coverage questions answered and get matched with an insurance provider that can get you the policy you need at a rate that fits your budget.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.