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 Wig Store Insurance
Pennsylvania Wig Store Insurance. Wig stores sell wigs, toupees, hair extensions, hairpieces, and hair care accessories. Their customers range from theater performers to older adults with thinning hair to those recovering from an illnesses related hair loss.
Hair goods stores specialize in the sale of wigs, wiglets, hair pieces, and toupees. They may sell bath supplies, beauty aids, cosmetics, costume jewelry, fragrances, and related items. The store may be independent or part of a regional or national chain that sells items online as well as in stores.
Some offer consulting services to customers to help them select the proper cosmetics and colorings for skin types. Others may be part of a beauty salon that provides hair care, manicures and pedicures, massage, electrolysis, tanning booths or beds, and other personal services. Some may offer delivery services.
As an entrepreneur operating a wig boutique, you face some risks. These include employee or customer injuries, crimes like theft or shoplifting, or basic business risks such as property damage. Pennsylvania wig store insurance is the best way to protect your shop against these risks.
Pennsylvania wig store insurance protects your boutique from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Types Of Wig Store Insurance
To be safe, a wig store should be covered by the following Pennsylvania wig store insurance insurance policies. Each of these insurance policies covers a different type of risk, depending on different circumstances of your shop:
General Liability - This is the first Pennsylvania wig store insurance policy to purchase. It covers personal injury, property damage, products liability, and completed operations. While it may be a rare instance, if one of your clients trips over a wig stand and hurts herself, the general liability policy would cover the medical costs. Likewise, if you make a custom hairpiece for a client that later causes them hair loss or irritation, they can sue you.
If s customer sues you, the policy will pay legal costs on your behalf for the claims made against you. Also, the general liability policy covers products liability for any loss or damage caused by the products you sell if you select that option on your policy.
Business Owners Property (BOP) - To obtain multiple insurance coverages in a single policy, purchase a business owner's policy. This includes your choice of coverages in a package, including business income protection, electronic data, property and contents, general liability, equipment breakdown, and more. In other words, a BOP policy bundles major coverages that are necessary to protect you from the risks while operating your PA wig store.
Workers' Compensation - The law in most states demands that all non-owner employees should be covered by workers comp. The PA workers' comp policy is crucial as it covers all work-related illness or injuries. Your wig store poses risks to your employees, such as back injuries from loading heavy boxes, repetitive motion injuries and cutting their hands when handling box cutters. These injuries are covered by worker's compensation insurance including all medical and recovery costs.
Business Property - Unexpected events like wind, fire, and extreme weather can cause significant damage to your business contents and property. With a wig shop, you are at higher risk for fire due to flammable hair pieces and how quickly they can be destroyed in a fire. A Pennsylvania wig store insurance property policy protects your business assets from this kind of losses.
PA Commercial Auto - If you use a vehicle for running your business, such as picking up new merchandise for the store, delivering custom-ordered wigs, or running to the office supplies store or bank, it's wise to be covered by a business auto insurance. It is a commercial insurance policy for your vehicle when it is used for business purposes. If you get an accident while making a delivery to a customer, the damage to yourself, your car, and the others involved will be covered
Umbrella - The Pennsylvania wig store insurance policies for your wig store have coverage limits. The commercial umbrella liability insurance is used to increase your liability limits for all your risks under one policy to protect your wig business for claims exceeding your primary policy limits.
Cyber Liability - A cyber liability insurance policy is essential if your wig store also operates as an e-commerce store that sells hairpieces online. A cyber liability policy is different from crime insurance as it only covers cyber crimes like theft of financial or personal information through web transactions. Cyber liability insurance policy also covers crimes against you, such as paying for merchandise with stolen cards, hacked PayPal accounts or other types of fraudulent activity.
Commercial Crime - Although you have taken proper security measures against shoplifting or theft crimes, it does not mean it will never occur in your wig shop. Crimes such as theft from employees, shoplifting of wigs, and vandalism of merchandise can happen right under your nose.
To protect your boutique from losses resulting from these crimes, purchase a crime insurance policy for your store. Whether you sell toupees, wigs, or hair extensions, you are open to many risks. While you cannot prevent certain events, you can protect your business from a financial struggle with Pennsylvania wig store insurance.
PA Hair Good Store's Risks & Exposures
Premises liability exposure is high due to the number of visitors to the store. To prevent slips and falls, there should be good lighting and adequate aisle space. All goods should be kept on easily reached shelves so customers do not pull items down on themselves. The stock dropped on floors by customers must be retrieved promptly. Flooring 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. All goods should be kept on easily reached shelves so that customers do not pull down items on themselves.
If makeovers are offered, employees performing the makeovers must be properly trained and licensed if required by the state. Questions regarding customer allergies should be obtained prior to offering services. Equipment and supplies used for servicing customers should be sterilized between uses or disposed of to prevent the spread of disease. 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.
There should be a disaster plan in place for unexpected emergencies. Personal injury exposures are from allegations of discrimination and from apprehending and detaining shoplifters, which may result in claims of assault and battery, false arrest or detention, unauthorized or intrusive searches, or wrongful ejection from the premises. Shoplifting procedures must be fully understood and utilized by all employees.
Products liability exposure is normally low unless there is direct import of the products. Foreign-made items should come from a domestic-based wholesaler. Any direct importer should be considered as a product manufacturer.
Workers compensation exposure is moderate due to employees standing for long hours, the use of computers, and restocking which requires lifting and placing items on clothing rods or on shelves. Continual standing can result in musculoskeletal disorders of the back, legs, or feet. Trips, slips, and falls are common. When work is done on computers, employees are exposed to eyestrain, neck strain, and repetitive motion injuries including carpal tunnel syndrome.
Lifting can cause back injury, hernia, sprains, and strains. Shelves should be easily accessible. Stepladders should be available. Employees should be trained in proper handling techniques. Housekeeping in storage areas, especially during peak times, is vital in preventing trip and falls. Skin, eye, and lung irritants can result from handling of hair, hair products, cosmetics or chemical applications used to service customers.
Cleaning workers can develop respiratory ailments or contact dermatitis from working with chemicals. In any retail business, hold-ups may occur. Employees should be trained to respond in a prescribed manner.
Property exposures are moderate. Ignition sources include electrical wiring and heating and cooling systems. These should be maintained and meet current codes for the occupancy. Electrical items such as hair dryers and curling irons should be checked often for frayed wires to prevent a fire. Hair is extremely combustible. Should a fire occur, the stock and its packaging materials provide a combustible fire load that is highly susceptible to water and smoke damage. Hairsprays and aerosol items used for styling add to the fire potential.
Individual items may be shoplifted. Appropriate security measures 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. Business interruption exposures are low. Except for custom-made items, replacement stock is usually available quickly.
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 a separation of duties between persons handling deposits and disbursements and reconciling bank statements. Receipting, inventory monitoring, and regular auditing are important. 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 regularly 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', employees', and vendors' information. Backup copies of all records, including computer files, should be made and stored off premises. There will be a bailees exposure if the store cleans or repairs hairpieces belonging to customers. There may be goods in transit between stores or if the store delivers items to customers.
Commercial auto exposure is generally limited to hired and non-owned liability for employees running errands. If the store delivers items to customers, only company vehicles should be used. Drivers must have a valid license and acceptable MVR. Vehicles must be regularly maintained with records kept.
PA Wig Store Insurance
Getting Pennsylvania wig store insurance quotes can be a bit tricky because there are not as many companies offering this type of insurance. The best place to start is the internet. A quick search will get you a handful of PA brokers you can contact. You may get an online quote, but in this case, it is best to contact them directly in person or by phone.
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.
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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.