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Retail and Startup Business Insurance
As a new or start up business, it is possible a business owner's policy may be a good starting point to protect your business and its assets. A business owner's policy may offer a way to protect what you have while not breaking the bank out of the blocks.
Most Americans today who are starting a business do not have a large amount of assets such as vehicles and equipment, machinery and a large number of employees. Without being a large business, your insurance needs should be fairly easy to determine. This is where a business owner's policy can be a good decision. This type of policy typically includes basic property and general liability insurance for your small business.
Retail stores in particular should carefully consider Product Liability Insurance in addition to a Business Owners Policy. Product liability insurance protects a retail business against claims made from the sale of goods, products, medicines or foods sold to the public. Product liability insurance covers the retail seller's liability for losses or injuries suffered as a result of purchasing a product by a buyer, user, or bystander. It covers defective products or product malfunction. In some cases, it may also protect the seller from failure to warn.
More often than not, your business owner's policy can be added to and coverage(s) extended as your business grows.