Convenience stores sell gas, cigarettes, and soda pop. They don’t sell anything that would require them to have insurance, right? Wrong. Having quality insurance is one of the most important parts about being in the convenience store business. Whether it’s from customers injuring themselves on the premises, or from the worst-case scenario of a robbery, there are many reasons why convenience store owners need insurance.
Virtually all convenience stores need insurance, and there are several kinds of insurance that they need. General liability, worker’s compensation, and crime insurance are a few that help these convenience stores stay operational and keep their doors open.
But what are the dangers that are facing these stores?
Why Convenience Stores Need Insurance
In many businesses, the most common form of theft is actually theft by the company’s very own employees! They have greater access to valuables than a customer would, and dishonest employees frequently take advantage of the trust they are given to steal things of value in a convenience store. This insurance protects a convenience store from the losses of an employee taking things.
More dangerous robberies occur when someone comes into a convenience store with a knife or gun and wants to steal something, often money from the cash register. Insurance helps cover the store against any potential losses that occur due to the crime of a robbery.
Injuries of Employees
Employees injuring themselves is another potential cause of a lawsuit towards a convenience store. Whether a slip and a fall or something worse, there is insurance to cover claims against this as well.
Damage to Property
There are expensive cars that pull up to convenience stores every day. Property insurance is going to protect the store from lawsuits if something were to happen to a car or to a person that was the fault of the store.
General Liability for Customers
General liability is the most basic form of insurance that a convenience store has, and it’s going to protect them if a customer injures themselves on the premises or breaks their valuables there as well.
These are just a few of the reasons why a convenience store needs to have insurance. It’s a dangerous world out there, and insurance is the best way to keep a store from paying a needless lawsuit.