GL Class Code 12356 - Department or Discount Stores
Are you searching for the General Liability Class Code 12356 - Department or Discount Stores?
Get information about this GL class code and its related North American Industry Classification System (NAICS), National Council on Compensation Insurance (NCCI) and Standard Industrial Classification (SIC) codes.
The General Liability Class Code 12356 - Department or Discount Stores. Learn more about GL Code 12356 and it's related NAICS, NCCI and SIC codes.
- What Is The Description Of The General Liability Class Code 12356?
- What Are The Related SIC Code(s) for GL Code 12356?
What Is The Description Of The General Liability Class Code 12356?
The description for GL Class Code 12356 is: Department or Discount Stores.
What Are The Related SIC Code(s) for GL Code 12356?
The related SIC Code(s) for General Liability Class Code 12356 - Department or Discount Stores is:
Description for 5311 Department Stores
Retail stores generally carrying a general line of apparel, such as suits, coats, dresses, and furnishings; home furnishings, such as furniture, floor coverings, curtains, draperies, linens, and major household appliances; and housewares, such as table and kitchen appliances, dishes, and utensils. These stores must carry men' s and women' s apparel and either major household appliances or other home furnishings. These and other merchandise lines are normally arranged in separate sections or departments with the accounting on a departmentalized basis. The departments and functions are integrated under a single management. The stores usually provide their own charge accounts, deliver merchandise, and maintain open stocks. These stores normally have 50 employees or more. Establishments which sell a similar range of merchandise with less than 50 employees are classified in Industry 5399. Establishments which do not carry these general lines of merchandise are classified according to their primary activity.
- Department stores-retail
GL Class Code 12356 - The Bottom Line
The General Liability Class Code for Department or Discount Stores is 12356.
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Get useful tips and information about how much commercial insurance costs, small business risks and exposures, how insurance regulations effect your businesses' and detailed descriptions of coverages and exclusions and more. Most small businesses need to buy the following four types of insurance at a minimum to cover their operations from every day risks:
Property Insurance: This policy covers a business if the property used in the business is damaged or stolen as the result of common perils like fire or theft. Commercial property insurance covers the buildings, structures and also business personal property - which includes furniture, inventory, raw materials, machinery, computers and other items.
Liability Insurance: Any company can be sued. Slip-and fall lawsuits are very common and be costly. Customers can claim you injured them or damaged their property - and lawsuits are very expensive. Commercial liability insurance pays damages and can include attorney's fees and other legal expenses. It also ca pay for the medical bills of injured third parties
Commercial Auto Insurance: For vehicles owned by the business. Commercial auto insurance pays bodily injury or property damage costs for which the business is found liable - up the the policy limits for liability and property damage.
Workers Compensation Insurance: In almost every state employers must provide workers comp when there are W2 employees. Workers compensation pays for the medical care of employees and can replace a portion of lost wages - regardless of who was at fault for the injuries.