Army Navy Surplus Store Insurance

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Army Navy Surplus Store Insurance Policy Information

Army Navy Surplus Store Insurance

Army Navy Surplus Store Insurance. Army-navy surplus stores sell military surplus equipment or (more commonly these days) military-grade equipment produced for civilian purposes, such as camouflage clothing, military boots, camping gear, backpacks, and binoculars.

Army and Navy surplus stores sell a variety of military-related items to the general public, including clothing items such as boots, camouflage gear, helmets, insignia, jackets, and uniforms, or items used for camping and other outdoor activities.

The items may be excess over what the military needs, may be items replaced by updated versions, or may be past their "use by" date. Surplus stores stock novelty items like T-shirts, playing cards, mugs, watches, and lighters.

Weaponry sold is limited to close combat items like bayonets, knives, and machetes. While rifle cases and gun holsters may be sold, firearms and ammunition are not.

While there is no doubt that army-navy surplus stores play an important role in the survival and hunting industry, and these stores can be very successful, no business owner wants all the hard work they put into building a thriving store with a loyal customer base to be lost to unforeseen circumstances.

That is why it is crucial to take steps to protect your business - and insurance is a big part of that.

What types of Army Navy surplus store insurance coverage are needed? Keep reading to discover more.

Army Navy surplus store insurance protects your military-related shop from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked Army Navy store insurance questions:


How Much Does Army Navy Surplus Store Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small Army Navy surplus stores ranges from $37 to $59 per month based on location, size, revenue, claims history and more.


Why Do Army Navy Surplus Stores Need Insurance?

Army Navy Store

Your business isn't like any other, but army-navy surplus stores do face some of the same risks as any other commercial venture. There are plenty of reasons to carefully evaluate your insurance needs, legal requirements and obtaining loans among them.

The fact that carrying the right insurance can save your army-navy surplus store from financial ruin is one of the more compelling reasons to go above and beyond with your coverage, however.

Like any other business, your store could be struck by an act of nature - a hailstorm or lightning strike, or even an earthquake, hurricane, or wildfire - at virtually any time, inflicting severe damage on the building and your inventory. Robberies, thefts, and acts of vandalism might all have the potential to lead to serious losses as well.

If someone - whether a vendor, a customer, or even an employee - were to fall, trip, or otherwise be injured on your premises, you can expect a huge bill. Even accidentally using an image that wasn't in the public domain on your website can lead to a lawsuit, and speaking of websites, cyber criminals may target your online store and steal customers' sensitive data, or even access your bank accounts.

These worst-cases scenarios may never come to pass, but because they can, it is crucial to be prepared with the right Army Navy surplus store insurance plan. Taking your insurance needs seriously could save your business one day.


What Type Of Insurance Do Army Navy Surplus Stores Need?

The policies that will offer you the protection you need, and the insurance company you should partner with, depend on the factors that make your army-navy store unique.

Variables that include the location of your store, how many employees you have, the type of equipment you sell, and the size of your business will determine what types of coverage you should opt for. Because the process of obtaining the right insurance can be challenging to navigate, it is crucial to consult an experience commercial insurance broker.

With that in mind, here is a glimpse at the most important types of Army Navy surplus store insurance:

  • Commercial Property: This form of insurance is designed to protect you from financial losses associated with perils that damage your building and its contents - like acts of nature, theft, vandalism, and fire. Army-navy stores will need property insurance whether their store is owned or rented.
  • Commercial General Liability: Whether someone gets injured on your premises or one of your employees accidentally damages a neighboring property while unloading a shipment, it is all too easy to find yourself facing a third party personal injury or property damage claim. This type of coverage helps you pay for your legal costs.
  • Product Liability: This type of insurance exists to protect you from the costs that might arise from claims that any product you sold caused harm to a third party, as well as in cases of product recall. It is essential for any retail store.
  • Workers Compensation: If an employee were to be injured in the workplace, this kind of Army Navy surplus store insurance will cover not just their medical bills but also any income they lose if they are rendered unable to return to work for a time.

These types of Army Navy surplus store insurance shield your shop from the financial consequences of many perils - but you may also need other kinds of coverage, such as commercial auto or crime insurance.

To make sure all your bases are covered, talk to a commercial insurance broker who is deeply familiar with the retail industry.


Army Navy Surplus Store's Risks & Exposures

Camouflage Jacket

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 stock should be on sturdy shelves that are easily accessible to customers. The stock dropped on floors by customers must be retrieved promptly.

Floor coverings should be in good condition, no frayed or worn spots on carpet and no cracks or holes in flooring. Steps and uneven floor surfaces should be prominently marked. Enough 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. There should be a disaster plan in place for unexpected emergencies.

Personal injury exposures include allegations of discrimination, invasion of privacy in dressing rooms 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 limited unless there is reconditioning, repair of items or direct importing of foreign-made equipment. In any of these cases, the retailer can assume the responsibility of a manufacturer. Foreign-made items should come from a domestic-based wholesaler.

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, hernias, sprains, and strains. Employees should be provided with safety equipment, trained on proper handling techniques, and have conveying devices available to assist with heavy lifting.

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 due to the value and combustibility of stock and its packaging materials. Ignition sources are limited to electrical wiring and heating and cooling systems. All wiring should be well maintained and meet current codes for the occupancy.

Aerosols and plastics add to the fire potential. Any down-filled or fabric items are highly susceptible to damage from water, smoke, and fire. Theft can be a concern because of the street market for higher-valued items.

Appropriate security measures should be present, 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 moderate as backup facilities are readily available and sales are not particularly seasonal.

Crime exposures are from employee dishonesty and theft of money and securities 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.

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 for vendors' and customers' information. Backup copies of all records, including computer files, should be made and stored off premises.

Business auto exposure is generally limited to hired and non-owned liability for employees running errands.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 5999 Miscellaneous Retail Stores, Not Elsewhere Classified
  • NAICS CODE: 452319 All Other General Merchandise Stores
  • Suggested ISO General Liability Code(s): 10060
  • Suggested Workers Compensation Code(s): 8017

Description for 5999: Miscellaneous Retail Stores, Not Elsewhere Classified

Division G: Retail Trade | Major Group 59: Miscellaneous Retail | Industry Group 599: Retail Stores, Not Elsewhere Classified

5999 Miscellaneous Retail Stores, Not Elsewhere Classified: Establishments primarily engaged in the retail sale of specialized lines of merchandise, not elsewhere classified, such as artists' supplies; orthopedic and artificial limbs; rubber stamps; pets; religious goods; and monuments and tombstones. This industry also includes establishments primarily engaged in selling a general line of their own or consigned merchandise at retail on an auction basis. Establishments primarily engaged in auctioning tangible personal property of others on a contract or fee basis are classified in Services, Industry 7389.

  • Architectural supplies-retail
  • Art dealers-retail
  • Artificial flowers-retail
  • Artists' supply and material stores-retail
  • Auction rooms (general merchandise)-retail
  • Autograph and philatelist supply stores-retail
  • Awning shops-retail
  • Baby carriages-retail
  • Banner shops-retail
  • Binoculars-retail
  • Cake decorating supplies-retail
  • Candle shops-retail
  • Coin shops-retail, except mail-order
  • Cosmetics stores-retail
  • Electric razor shops-retail
  • Fireworks-retail
  • Flag shops-retail
  • Gem stones, rough-retail
  • Gravestones, finished-retail
  • Hearing aids-retail
  • Hot tub-retail
  • Ice dealers-retail
  • Monuments, finished to custom order-retail
  • Orthopedic and artificial limb stores-retail
  • Pet food stores-retail
  • Pet shops-retail
  • Picture frames, ready-made-retail
  • Police supply stores-retail
  • Religious goods stores (other than books)-retail
  • Rock and stone specimens-retail
  • Rubber stamp stores-retail
  • Sales barns-retail
  • Stamps, philatelist-retail: except mail-order
  • Stones, crystalline: rough-retail
  • Swimming pools, home: not installed-retail
  • Telephone stores-retail
  • Telescopes-retail
  • Tent shops-retail
  • Tombstones-retail
  • Trophy shops-retail
  • Typewriter stores-retail
  • Whirlpool baths-retail

Army Navy Surplus Store Insurance - The Bottom Line

To protect your business, employees and customers, having the right Army Navy surplus store insurance coverage is vital. To see what policies are available to you, how much coverage you should have and the cost - speak to a reputable commercial insurance agent.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

Additional Resources 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.


Retail Insurance

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.

Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Equipment Breakdown, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits, Umbrella, Hired and Non-owned Auto & Workers Compensation.

Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Bailees Customers, Goods in Transit, Jewelers Block, Cyber Liability, Employment-related Practices, Business Auto Liability and Physical Damage and Stop Gap Liability.


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