Bodegas, corner shops, or convenience stores, call them what you will but they have become a staple in most small and large cities all over the US. People enjoy the convenience of a store that allows them to grab a few choice items in short order. Lines are often short, so shopping doesn’t usually take up too much time.
The amount of traffic that owners see on a daily basis provides these businesses with a healthy source of income, but they also face the same types of liabilities that larger operators must contend with. An injury to a customer, armed robbery, and theft are some of the concerns that pose severe risks and may even put an owner at risk of financial ruin.
Convenience stores insurance is the best way to address many of these concerns and also protect the business by having the types of business coverage needed. This allows an owner to have a sense of security knowing that they’ll be prepared for many of the exposures related to running this type of an operation.
Bodegas and premises liability coverage
Premises liability is a vital component if, for example, someone is injured in any way while patronizing a convenience store. Injuries can possibly lead to a lawsuit and the company, at the very least, could be on the hook for any cost for medical bills. If a customer were to experience property damage to personal belongings while in the store, or their car while parked in the parking lot, they’ll be able to sue for damages.
Premises liability coverage protects owners by paying for these sorts of expenses, as opposed to the owner having to pay out-of-pocket if they aren’t carrying an insurance policy that will cover incidents of this nature.
Products liability is another valuable policy to obtain
An owner may use good judgment in selecting products, or manufacturers, distributors, and suppliers of merchandise they carry, but that doesn’t mean that a product they are selling won’t wind up causing some type of injury to a customer.
If you are selling products that present a danger, even though you were unaware that such an issue existed, you can be sued when an injury resulting from the use of any product sold by you, and this includes the packaging that it comes in. Products liability coverage, as part of your Convenience stores insurance, also pays for legal defense when necessary, or any settlements or related costs that could arise.