When operating a drug store, getting business insurance coverage to protect your store should be top priority.
General liability insurance protects your business from financial strife of customer's legal or medical costs for injuries while on your business’s property. The policy will cover your legal defense and the costs associated with the loss if you are found liable, up to your policy limits.
Property damage, whether it is from fire, extreme weather conditions, or natural disasters, flood from severe rainstorm, property coverage insurance would cover the cost of repairing or replacing your business-related property including structural damage to your building and the business materials you store there.
Workers compensation insurance is required by law in most states of the US. If an employee is injured in a work related accident, workers compensation will pay for their medical care and recovery expenses. Your business will also not be responsible for the damages or sued by your employee.
This policy, also called errors and omissions insurance, covers lawsuits related to your work, If a customer sues your business, claiming you made a mistake, professional liability insurance would cover your legal fees and any required settlement.
Even if you choose your employees carefully with background checks and verifying references, you still run the risk of dishonest employees. Losses by crimes including vandalism, theft, shoplifting and embezzlement by your employees and passersby are covered by obtaining crime insurance.
Vehicle used for business operation such as sending employees to client’s homes should be covered by business auto insurance. Business auto insurance provides coverage against accidents, theft, or vandalism while using your vehicle for business purposes.
The risks for a drug related business can be very wide because of the many different exposures involved with your business activities. Naturally you want to make your buyers happy and keep them as safe as you can while also protecting your business and keeping it profitable at the same time.
Due to the nature of operating a business such as this, you’re exposed to a variety of risks including theft of money or pharmaceuticals, liabilities such as a customer tripping over something left in an aisle, or a natural disaster that causes substantial property damage. This is what makes insurance for drug store business owners so important. You must protect these and other risks by obtaining the right kind of drug store insurance.
Running a drug related business without insurance is taking a mighty huge risk. Our broad, tailored coverage options and enhancements are based on our deep knowledge and experience in the drug store insurances, and specifically designed to meet the needs of our customers.
At Business Insurance Agency, we will take the time to get to know your business and assess the risks involved in your business, and can assist you with the right coverage options you need at an affordable price.
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