Running a boutique clothing store means managing a lot of unique stock. It also means taking care of your customers. If something were to happen to them, the business could lose a customer and face harmful damage costs. What recourse would you have in such situations?
Though you might think your store is a safe environment, think again. Accidents can happen at any time, in any situation. You must protect yourself. Carrying commercial insurance often is the key to this success. Among your coverage should be general liability insurance. It's one of the most important forms of coverage when it comes to your customers.
Common Accidents in Small Stores
Boutiques generally are small, intimate spaces. You can let your clients experience a fun and in-depth immersion in buying clothes.
But, though you'll do everything in your power to prevent problems, you can’t avoid all mishaps. Someone visiting the store might get hurt in an instant, and in ways you never expected. Some of the more common injury risks in your store might include:
- Slip-and-fall risks
- Head injury risks from falling objects
- Injury risks from shopping carts
If the injured party is a client, then they might hold you responsible for their losses. As a result, they might expect you to compensate them for their losses. Some might even sue you. If they do, then you might run the risk of putting the business on the line.
When a problem occurs, pull out your commercial insurance policy. You will likely see that you have general liability insurance, and it might prove a saving grace.
Understanding General Liability Coverage
Sometimes, business owners think commercial insurance only protects them as the insured party. However, the coverage can also extend help to those harmed by your actions. This is the purpose of commercial general liability insurance. Your policy will often cover:
- Bodily injuries: Physical harm to third parties might lead to medical bills, rehab costs and lost income. This coverage might help you repay some or all those costs.
- Property damage: If you damage someone else's property by handling it, then this coverage can help you pay to replace it.
When you get this coverage, you not only protect others, but also yourself. Coverage might help you pay settlements and other costs arising from a proceeding. Thus, you might not have to sacrifice any of your business income to help the harmed party out. That gives both the business and the claimant a better assurance of help following a harmful incident.
To find out more about how to better protect your boutique, Contact CSP Insurance Services. We will be glad to help you.