Supermarkets provide a tremendous service to consumers. After all, they provide the food that we feed ourselves, our children and our friends. Owners also do business with food wholesalers, retailers, as well as manage stores, follow stringent food safety regulations, and many even offer a bakery, deli, or coffee bar within the store, often all three.
With so much activity, and many branches and employees to contend with, supermarkets are exposed to numerous risks, and this is where grocery store insurance is so vital. For example, an employee could be working in the meat department and accidentally slice his or her hand on a commercial meat cutter, or a shopper could slip and fall on something wet on the floor (“Clean up, aisle nine!”), or food that was not properly refrigerated could cause illness to a member of the staff or one of the customers.
In case of a financial loss, claim, or lawsuit, owners should have commercial insurance coverage they can count on to keep their operations, assets, and staff shielded from any personal liability.
An independent commercial insurance agent, familiar with the type of business insurance policies required for this line of work can answer supermarket owners’ questions about buying the appropriate coverage, as well as guide them in selecting a policy from the many offered through any number of different insurance providers.
Many different types of coverage are often required
Every supermarket owner is going to need the basics, which includes commercial general liability (CGL) coverage, something every company should have in place. In addition, they should look into business property insurance and business personal property insurance, both of which can be important in the event items owned by a supermarket or its employees are damaged or lost, along with liability coverage, in case of harm or damage to another by a store employee, product, or a fixture on site.
Since all supermarkets have employees, statutory guidelines on workers’ compensation insurance is also a requirement, and crime insurance coverage, inland marine insurance, (depending on the shipping and receiving practices of a particular supermarket business) and other grocery store insurance policies to cover areas not covered by the aforementioned policies may also be necessary.
Supermarket owners should also consider whether they want to purchase a policy that can cover employee theft or forgery, and go over the exclusions and limitations in a commercial insurance policy with an agent, so that owners know what kinds of incidents, or accidents may not be covered in the future.