Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Pennsylvania Luggage Store Insurance
Pennsylvania Luggage Store Insurance. Luggage dealers may sell and repair all types of luggage, briefcases, attache cases, and other related leather items and goods. The store may be independent or part of a regional or national chain. Some offer custom-made items or repair services. Some may offer delivery services.
From leather luggage and suitcases, to handbags used as carry on luggage, to high end / high cost travel bags, the items you have in your store for sale can be expensive. Due to the nature of your inventory, it is important to ensure you choose the right insurer and right policy terms, when it comes to protecting your business.
So consider some of these factors in selecting an insurer for your Pennsylvania luggage store insurance policy.
Pennsylvania luggage store insurance protects your shop from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Do You Need PA Luggage Store Insurance?
Owning a PA luggage store, you might think not much can go wrong. Sure, theft might occur locally in the commercial sector, but you have several cameras and CCTV equipment in place to protect your assets. However, there are other issues which can and do arise in the normal course of business.
Consider this situation; one of your employees is bringing down luggage for a customer. In doing so they scratch and ruin dozens of pricey leather suitcases, which would cost you hundreds, if not thousands of dollars in inventory loss. Without a Pennsylvania luggage store insurance in place, you are stuck paying out of pocket, and losing this inventory. This is just one of the issues which can occur with your store.
For this, theft, damage caused by storms, damage caused by customers who are careless, or any other possible problems which occur, you need Pennsylvania luggage store insurance to protect your shop. You know some of the risks, so now you have to choose the proper coverage to protect your assets, employees and your store.
How Much Coverage Do You Need?
There are a number of factors to consider when choosing your Pennsylvania luggage store insurance policy. In deciding how much coverage you require consider:
- Square Footage. (to cover inventory as well as the physical store and areas you keep inventory in storage spaces).
- Cost Of Inventory. Leather, high end, or designer luggage will be pricier to insure than "bulk" or "cheap priced" luggage you sell.
- Zip Code. Some areas are more dangerous or prone to theft, water damage, or other possible risks. In these "high risk" areas, your coverage will typically be higher.
- Your Assets. The number of bags, suitcases, luggage accessories, and items you have in your shop, will also affect your premium rates.
Some travel bag store operators owners also want to add incidental coverage. Some will choose to add additional coverage for flood damage if they live in an area where flooding is prevalent. The amount of coverage you require, is truly up to you as a business owner; with this in mind, you can't skimp on coverage, or not purchase insurance at all, as this will put your business in a bad place in the event something actually does go wrong.
Compare Before You Buy
Just like any other insurance policy - when you are purchasing Pennsylvania luggage store insurance, you should to compare insurers. You have to know what they cover, if they offer additional coverage for high end items, whether or not they protect theft and vandalism, or whether they simply protect inventory. Asking these questions,and comparing the level of coverage offered, from top insurers, for the price they charge, is the only way to find the right policy and insurer, and of course find the best price when you are finally ready to choose an insurer.
As a business owner, if you want to save, the only way to do so, without compromising on level of or quality of the coverage you purchase, is to compare top insurers which provide this type of coverage for your business needs.
Pennsylvania Luggage Store's Risks & Exposures
Premises liability exposure comes from slips and falls due to public access to the premises. Floor coverings must be in good condition with no frayed or worn spots on carpet and no cracks or holes in flooring. Steps and uneven floor surfaces should be prominently marked. Sufficient exits must be provided and be well marked, with backup lighting systems in case of power failure.
Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls. If the business is open after dark, there should be adequate lighting and appropriate security for the area.
Personal injury exposure is from apprehending and detaining shoplifters. Shoplifting procedures must be fully understood and utilized by all employees.
Products liability exposure is normally low. Direct importing of raw materials and finished items can add to the exposure. Foreign-made items should come from a domestic-based wholesaler. Any direct importer should be considered as a product manufacturer.
Workers compensation exposures are from lifting which can cause back injury, hernias, sprains and strains, and from slips and falls. Shelves should be easily accessible for storage. Stepladders should be available. Training in proper lifting and handling of stock is important. Housekeeping in storage areas, especially during peak times, is vital in preventing trip and falls.
Manufacturing, repair, cutting and sewing operations can result in cuts and repetitive motion injuries. In any retail business, hold-ups can occur. Employees should be trained to respond in a prescribed manner.
Property exposure may be high from the treating and dying of leather if manufacturing is done on premises. Otherwise, ignition sources are limited to electrical wiring and heating and cooling systems. These should be maintained and meet current codes for the occupancy. Should a fire occur, the stock provides a combustible fire load that is highly susceptible to water and smoke damage.
Individual items may be shoplifted. High-value or designer items may be stolen in larger quantities after hours. Appropriate security should be in place including physical barriers to prevent entrance to the premises after hours and an alarm system that reports directly to a central station or the police department.
Crime exposures are from employee dishonesty and theft of money and securities either from holdup or safe burglary. Background checks should be conducted on all employees handling money. There must be separation of duties between persons handling deposits and disbursements and handling bank reconciliations. Money should be regularly collected from cash drawers and moved away from the collection area, preferably to a safe on premises. Bank drops should be made throughout the day to prevent a buildup of cash on the premises.
Inland marine exposures are from accounts receivable if the store offers credit; computers to transact sales and monitor inventory; and valuable papers and records due to customers' and vendors' records. Backup copies of all records, including computer records, should be made and stored off premises. If the store alters or repairs items for customers, there will be a bailees exposure. There may be goods in transit between stores or if the store delivers items.
Business auto exposure is generally limited to hired and non-owned for employees running errands. If the store delivers items to customers, anyone who drives an insured vehicle must have a valid license and acceptable MVR. Vehicles must be regularly maintained with records kept.
PA Luggage Store Insurance
Purchasing Pennsylvania luggage store insurance can be a time consuming process. The good news is that you just have to work with a professional insurance broker that will take you through the various coverage options and help you find competitively priced policies, for all the coverages you need.
Pennsylvania Economic Business Outlook & Commercial Insurance Requirements
While you might have a fantastic idea for a business, if you aren't setting up shop in the right PA location, there's a good chance that you won't see the success that you hope to achieve. With that said, it's important that you have an understanding of the economic status of the state that you are thinking about doing business in. It's also important for you to know what type of rules and regulations regarding insurance are in place in that state.
If you are thinking about doing business in the Commonwealth of Pennsylvania, keep on reading to find out some valuable information that you can use to make the best choices for your operation.
Pennsylvania's Economy Now And Into The Future
In terms of the economy, Pennsylvania's future looks pretty bright. It boasts the sixth largest economy in the United States. It is also home to some of the largest private and public organizations in the nation, as per sales.
The job market is expected to see steady growth in Pennsylvania during the 2019 calendar year. That rate is expected to be 1 percent, which is a marked increase from previous years. This is largely due to the high pool of educated laborers that reside in the state. Currently the unemployment rate is 4.9 percent, which is on-par with the rest of the nation. It is believed that the unemployment rate will continue to drop as more jobs are added.
For business owners, there are several industries that will afford success. The food products industry, particularly related to agriculture, contributes largely to the state's economy. This is expected to continue moving forward throughout the 2019 calendar year. Other industries that are forecasted to see growth include:
- Printing & Publishing
If you are thinking about doing business in PA, working in one of these industries will likely afford you success.
Insurance Requirements For Businesses In Pennsylvania
The Pennsylvania Insurance Department regulates insurance in PA. Business owners are legally required to carry workers compensation insurance. This type of coverage is a must for any business that employs any W2 part-time or full-time employees, and for employees that are either hourly or salaried. You must also carry PA commercial auto insurance if you plan on using a vehicle to conduct anything related to your business.
While commercial liability insurance is not required in Pennsylvania, it is still a wise idea to invest in. This type of coverage will protect you from the cost of any lawsuits that could potentially arise.
Additional Resources For Retail Insurance
Read valuable small business retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.
- Adult Novelty
- Appliance & Electronics Store
- Art Gallery
- Auto Service Repair
- Auto Supply Parts Store
- Bicycle Shop
- Book Store
- Bridal Shop
- Candy Confectionery Store
- Car Wash
- Carpet Store
- Clothing Store
- Collectibles Memorabilia Store
- Convenience Store
- Cosmetics Store
- Dry Cleaning
- Equipment Rental
- Funeral Home
- Furniture Store
- Gas Station
- Gift Store
- Hardware Store
- Home Improvement Store
- Hotel Motel
- Ice Cream Shop
- Jewelry Store
- Lingerie Store
- Luggage Store
- Music Store
- Office Supply Store
- Paint & Wallpaper Store
- Pet Store
- Pharmacy Liability
- Plumbing Supplies Fixtures Store
- Scrap Metal Dealers
- Sewing Store
- Shoe Store
- Sporting Goods Store
- Stationary Store
- Thrift Store
- Ticket Agency
- Tobacco Store
- Toy Store
- Travel Agency
- Wig Store
Retail stores are susceptible to premises liability claims because of customer traffic, but large department and specialty stores are more susceptible than most.
All retail stores have significant property exposures. The on-hand stock represents a considerable investment, but the amount on hand fluctuates seasonally. For this reason, physical damage insurance on this property must be arranged carefully. When the insured occupies a non-owned building, insurance coverage must be arranged for the insured's interest in extensive improvements and betterments made to the premises.
Crime insurance, in the form of employee theft and money and securities coverage, is also very important.
The businessowners policy was designed with retail exposures and operations in mind. For this reason alone, it should always be the first type of package coverage to consider. However, for those risks not eligible for the business owners policy program, the commercial package policy (CPP) is a practical and convenient way to combine a number of coverages into one policy.
Retail businesses generate income through interaction with customers. This interaction is also how a customer can sustain an injury and then sue the retailer for damages. Hazards, exposures and operations both on premises and off are important and must be covered, but liability the retailer may incur because of the merchandise sold must also be considered and insurance protection arranged.
Inventory or stock is the major property exposure for most retail operations. Because stock values tend to fluctuate or have significant peaks at certain times of the year, value reporting or peak season valuation options should be considered. Business income coverage, including business income from dependent properties coverage, may mean the difference between a retail operation staying in business or being forced into bankruptcy following a loss.
When the insured occupies a non-owned building, insurance coverage must be arranged for the insured’s interest in extensive improvements and betterments made to the premises.
Most retail businesses offer endless opportunities for a variety of criminal activities. For this reason, the coverages needed must be carefully evaluated. Holdup and robbery losses may be the most obvious concerns but employee theft, fraud and counterfeit money losses are also serious issues that cannot be dismissed.
Retail businesses are gaining greater exposure to international issues because of the growth in sales via the internet. As these sales increase, the added exposures faced by these retailers must be evaluated. While their operating horizons are expanding so are their potential loss exposures.
Request a free Pennsylvania Luggage Store insurance quote in Aliquippa, Allentown, Altoona, Ambridge, Baldwin, Beaver Falls, Bellevue, Berwick, Bethel Park, Bethlehem, Bloomsburg town, Bradford, Brentwood, Bristol, Brookhaven, Butler, Camp Hill, Canonsburg, Carbondale, Carlisle, Carnegie, Castle Shannon, Chambersburg, Chester, Coatesville, Collingdale, Columbia, Connellsville, Conshohocken, Darby, Dormont, Downingtown, Doylestown, DuBois, Dunmore, East Stroudsburg, Easton, Economy, Elizabethtown, Ellwood, Emmaus, Ephrata, Erie, Franklin Park, Gettysburg, Glenolden, Greensburg, Grove, Hanover, Harrisburg, Hatboro, Hazleton, Hermitage, Huntingdon, Indiana, Jeannette, Jefferson Hills, Johnstown, Kingston, Lancaster, Lansdale, Lansdowne, Latrobe, Lebanon, Lewistown, Lititz, Lock Haven, Lower Burrell, McKeesport, Meadville, Mechanicsburg, Middletown, Millersville, Milton, Monessen, Monroeville, Morrisville, Mount Joy, Munhall, Murrysville, Nanticoke, New Castle, New Cumberland, New Kensington, Norristown, Northampton, Oil, Old Forge, Palmyra, Perkasie, Philadelphia, Phoenixville, Pittsburgh, Pittston, Pleasant Hills, Plum, Pottstown, Pottsville, Quakertown, Reading, Ridley Park, Scranton, Shamokin, Sharon, St. Marys, State College, Sunbury, Swissvale, Tamaqua, Uniontown, Warren, Washington, Waynesboro, West Chester, West Mifflin, White Oak, Whitehall, Wilkes-Barre, Wilkinsburg, Williamsport, Wilson, Wyomissing, Yeadon, York and all other cities in PA - The Keystone State.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.