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Pepper, Johnstone & Company Blog

All You Ever Wanted to Know About Insurance

Insurance for Retail & Retailers - The Protections You Need

Rumors of retail’s demise have been greatly exaggerated. Storefronts throughout Athens and Huntsville, AL are full of products, and the thrill of window shopping didn’t die out once the internet went live. Retailers are finding new and creative ways to entice shoppers back to brick-and-mortar establishments while also incorporating the latest digital developments. But new avenues of opportunity can also mean new threats to your business. 

Succeeding as a retailer means keeping margins tight and inventories tighter. Retailers face unique challenges in the digital age, and even one unexpected instances of storefront damage or one filed lawsuit can mean the difference between locked or unlocked doors. To keep your doors open and your retail dreams alive, you need protection. 

At Pepper, Johnstone & Company, we value retail’s impact on the local economies in Huntsville, Athens, and throughout the state of Alabama. Here are the protections you need to keep thriving as a retailer. 

Commercial Property Insurance for Retail

The key to retail storefronts is, of course, inventory. But as a successful retailer, you also depend on equipment, tools, and the structure itself. Regardless of whether you rent or own your retail space, the property itself is key to consistent operation. To weather both figurative and literal storms, you need commercial property insurance

Commercial property insurance can compensate you for disasters, vandalism, unexpected damage to inventory, and so much more. 

Commercial property insurance protects you against:

  • Property damage

  • Inventory losses

  • Damaged equipment/tools

  • Fire damage

  • Flooding (when added to policy)

  • Break-ins & theft

  • Damaged/compromised data networks

General Liability Insurance for Retail

As a retail operator, you need members of the public to physically visit your location, browse your products, and make a purchase. From the moment a shopper steps through your doors, you’re responsible for their safety and wellbeing. An accident on your property may be just that—an accident, but that doesn’t mean the civil courts won’t have something to say about it. 

To safeguard the business you’ve worked so hard to build, you need general liability insurance. Without it, it’s practically unsafe to even open your doors. General liability insurance secures you against claims of bodily injury, property damage, and personal/advertising injury while also providing you with funds to remain operational and fight those claims. General liability insurance protects you against:

  • Injuries to clients/members of the public while on your premises

  • Property damage to a 3rd party

  • Other damages

In the event of the worst, general liability insurance also provides you with: 

  • Legal fees and defense costs

  • The cost of medical bills

  • Cost of rehabilitation

  • Cost of repairs to property

  • More

Business Income Insurance for Retail

More than most industries, the retail business hinges on vice-tight margins. Something as simple as a smashed window or power outage can seriously compromise your ability to do the business you expect and need to do on any given day. In retail especially, interruptions = losses, but you shouldn’t be punished for the unexpected. Protecting you against the unforeseen is, at the very least, the sole purpose of insurance.

Business income insurance for retail establishments is an absolute must. When “open for business” and “closed for good” are separated by a single week’s earnings, income insurance makes a world of difference.

Business income insurance protects you against:

  • Loss of anticipated net income due to physical storefront damage

  • Loss of income due to damaged property

  • Loss of ongoing operational expenses

  • Expenses incurred to avoid/minimize suspension of business 

In other words, business income insurance is a lifeboat for stormy times. Together with commercial property and general liability protections, business income insurance forms the capstone of a three-dimensional retail protection policy.

Pepper, Johnstone & Company for Retail

In the great history of human business, retail is perhaps the grandfather of all other industries. As long as there have been wares to sell, there have been booths, tents, and shops to browse and buy in. As a 21st-century retailer, you encounter new pressures. But for each predictable and unpredictable event, there’s insurance to protect you at Pepper, Johnstone & Company

While there are other policies retailers may need (commercial auto, workers comp, etc.), these above-mentioned policies serve as a bedrock foundation for your storefront. Don’t let a slip-and-fall accident or a smashed window handicap your operation. Contact us today and let us safeguard your growing retail empire.

Protect your storefront, inventory, & income today!

At Pepper, Johnstone & Company, we know that commercial centers and booming storefronts serve as vital hubs to local economies. Despite the doom and gloom predicted by the disruptive influence of online shopping, your retail operation stands an excellent fighting chance. But without protections, a minor accident or day’s losses could sink a business that’s just getting started. Don’t wait for the unexpected to happen. Cut it off at the pass by calling us today at 938-200-8972. You can also visit us for a quote online.