What coverages are available through C-store insurance policies?
In order to provide robust protection against a range of risks, most C-store insurance policies come with a variety of coverages. These typically include both property coverages and liability coverages.
Property coverages generally protect against damage to or loss of physical assets. Some property coverages that C-store policies might offer are:
- Building Coverage, which might cover an owned storefront building
- Tenants Betterment Coverage, which might cover fixtures in a leased storefront space
- Property Coverage, which might cover fixtures, equipment and inventory
- Spoilage Coverage, which might cover perishable items if they spoil during a disaster
- Equipment Breakdown Coverage, which might cover vital equipment that malfunctions
Liability coverages generally protect against situations where a business could be sued. Some liability coverages that might be available are:
- General Liability Coverage, which might cover “slip and fall” accidents occurring in a store or parking lot
- Product Liability Coverage, which might cover injuries, illnesses and property damage caused by sold products
- Pollution Liability Coverage, which may cover fuel contamination of the immediate surrounding area
- Liquor Liability Coverage, which may cover incidents involving customers who purchased alcohol
- Cyber Liability Coverage, which might cover online attacks, data breaches and other digital risks
- Employment Practices Liability Coverage, which might cover employee-filed discrimination claims
- Umbrella Liability Coverage, which might cover expensive lawsuits with additional, secondary protection
Stores may also choose to purchase commercial auto coverage, business interruption coverage or others. An insurance agent who specializes in C-store insurance can help review all available coverage options.
Do convenience store policies protect against damage caused by floods?
Most C-store policies don’t include coverage for flood damage, instead leaving stores that want this protection to purchase it separately. A knowledgeable insurance agent can help with procuring a separate flood policy if this risk is a concern. Flood policies might be available through a national subsidized program or via the private market.
How much are convenience store policies’ premiums?
The premiums charged for convenience store policies are based on many factors and thus vary from one policy to the next. A store’s location, size, annual sales, product mixture, and other details can all impact the cost.
The quickest and easiest way to find out how much insuring a particular store would cost is to compare customized quotes with an independent agent. Independent agents are free to request quotes from several insurance companies in the state.
How can store owners in Massachusetts get convenience store insurance?
For help insuring a convenience store or similar store that’s in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents have worked with many different businesses, and know convenience store policies well. We have the expertise necessary to help you find a convenience store insurance policy that’ll provide the protections your store needs.