For those who are owners of small retail stores in Washington, business insurance can be tailored to fit the requirements of each individual operation, since no two businesses are exactly alike. Business owner policies (BOPs) can be designed specially to provide coverage for the different aspects of your small retail business.  

Liability insurance provides coverage for bodily injuries in your store but you can also hold product liability coverage designed to protect you financially in the event that you’re found liable for damages as a result of a product you sell.

Property insurance is designed to provide coverage for your shop, or any alterations or additions you have made to the premises if it is rented. It also covers your inventory, and may include a “seasonal escalator” for fluctuating values of stock at different times of the year. Other types of coverage may be added to your policy, such as “spoilage” – for stock deterioration, “mechanical breakdown” for machinery problems, “burglary and robbery”, and a floater for extra coverage when goods are being transported. You will also need workers’ compensation insurance for any people that you employ in your business.  
 
Naturally it is better to avoid problems happening in the first place, so it’s vitally important to take steps to keep your store as safe as possible, and to provide safe products - for instance if you sell food items, they need to be kept at the correct temperatures to avoid problems such as food poisoning.  However since there are no guarantees, it’s also vital to ensure you have sufficient Washington business insurance to provide protection for your livelihood.  
 

*