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.
Stationary Store Insurance Washington
Stationary Store Insurance Washington Stationery stores sell stationery, paper goods, writing instruments, decorative items, gifts and greeting cards.
If you are the owner of a stationery store, you may already have had a first hand glimpse at how the digitalization of our society has many profound impacts on our lives, including some that are less obvious to the general public. As society becomes more and more reliant on digital methods of communication, stationery stores are expected to face considerable challenges in the years ahead. Fortunately though, they are not going anywhere just yet - and this is why they need a stationary store insurance Washington policy.
Stationary store insurance Washington protects your shop from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Do I Need Business Insurance For My Stationery Store?
Businesses, offices, schools, and individuals still consider stationery stores the go-to place for paper and printing products, shipping supplies, pens and markers, notepads, etc. Stationery stores also frequently offer printing and faxing services, and many others today also sell computer, printer, fax, and mobile products as well.
Lots of stationery stores are choosing an omni-channel approach to business as well by offering their products online so there is definitely no immediate danger of these stores becoming obsolete.
There is, however, no denying that a stationery store of today probably has more hurdles to contend with in terms of competition and a changing market than those of the past. That it why it may be even more important to maintain current and comprehensive stationary store insurance Washington than ever before.
Like all other types of retail establishments, stationery stores benefit from having the appropriate form of business insurance in many ways. In fact, purchasing stationary store insurance Washington is the single most important step that you can take to protect your valuable assets and minimize your exposure to costly financial losses.
How Can Business Insurance Protect Your Shop?
There are many aspects of your business that can be protected by stationary store insurance Washington starting with:
General Liability Insurance: This is a standard component of most stationary store insurance Washington policies that protects you and your business against damages brought about by customer injuries that may occur in your store or a host of other liability risks. Slip and fall is a common claim in retails businesses. This is vital because even if you are found to be not at-fault in the event of a lawsuit, the costs of legal proceedings can be devastating to your business.
Workers Compensation Insurance: Another type of stationary store insurance Washington you may want to consider if you have employees is Workers Compensation Insurance which protects your business in the event that one of your employees sustains an injury while on the job. Workers comp is required in most states for any non-owners employees.
Commercial Property Insurance: A basic form of insurance for business that you must have if you own the building where you conduct your business is WA property insurance, This stationary store insurance Washington will protect your business property from damages to the actual building itself.
Contents Insurance: You should also definitely consider purchasing contents insurance too which covers the merchandise, shelving units, displays, and electronics that are inside the store as well. There are other types of supplemental property insurance features that you can add to your plan such as flood insurance, earthquake insurance, hurricane insurance and others that may be necessary depending on what part of the country your business is located in.
Business Interruption Insurance - Disasters, both natural and man-made, can force your business to close its doors for an extended period of time while repairs are made. Business interruption insurance provides your stationary store with a continuation of income until normal business operations can recommence. This coverage is typically limited to one year.
Washington Stationary Store's Risks & Exposures
Premises liability exposure comes from slips and falls due to public access to the premises. Aisles must be adequate and free of debris with flooring 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.
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.
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 exposures are from lifting that can cause back injury, hernias, sprains, and strains, and from slips and falls. Employees should be provided with safety equipment, trained on proper handling techniques, and have conveying devices available to assist with heavy lifting.
Shelves should be easily accessible for storage. Stepladders should be available. Housekeeping in storage areas, especially during peak times, is vital in preventing trips and falls. As with any retail operation, hold-ups may occur. Employees should be trained to respond in a prescribed manner.
Property exposures are low because ignition sources are limited to electrical wiring, heating and cooling equipment. Paper goods comprise a heavy fire load, and are extremely susceptible to fire, smoke and any type of moisture. If there are high-value gifts, theft may be a concern.
Appropriate security measures should be taken, 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. Fragile items made of glass or pottery are subject to breakage.
Business interruption is a concern since sales may peak at particular times during the year.
Crime exposures are from employee dishonesty and loss 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 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 due to customers' and vendors' records. Backup copies of all records, including computer records, should be made and stored off premises.
Business auto exposure is generally limited to hired and non-owned liability for employees running errands.
WA Stationary Store Insurance
The value of having commercial retail insurance for your shop is something that cannot be overstated. To discuss the ways in which a business insurance policy can be customized to suit the particular needs and concerns of your business, contact a professional commercial insurance broker.
Washington State Economic Outlook & Business Insurance Requirements
For anyone who is thinking about starting up a business, it is important that they choose a location that suites the industry that they wish to work in. With that said, in order to determine whether or not a location is the right choice for your business, you should have an idea about the state's economic status. You should also have an understanding of the WA state regulations related to the types of commercial insurance that you are required to carry.
If you are thinking about starting up a business in the State of Washington, below, we offer some insight into the state's economic status. We also offer a glimpse at the WA insurance requirements that business owners must abide by.
State Of The Economy In Washington
Washington state may be famous for its gloomy weather, but when it comes to the economy, things here look bright. The economic outlook for Washington is healthy. It is expected that there will be more jobs added in the 2019 calendar year. There will be an increase in the productivity of labor. There will also be an increase in the state's unemployment rate during the year 2019, with a forecasted rate of 4.7 percent.
Washington is regarded as one of the top for businesses in the nation. In fact, it is listed at the 11th best state for business by Forbes. The industry that is expected to see the most growth are related to STEM (science, technology, engineering, and math). Among the top industries in this state include information technology. Education, healthcare, finance, and travel and tourism also contribute largely to the awesome economy of this state.
Commercial Insurance Requirements In WA
The Washington State Office of the Insurance Commissioner regulates the insurance industry in WA. Businesses are legally required to carry workers' compensation insurance. This type of coverage is required for any business that employs either hourly or salaried employees, and either part-time or full-time employees. You are also required to carry commercial auto insurance if you use a vehicle to conduct any type of business in this state. That means that if you are using a car to transport goods, make deliveries, or meet with clients, you must carry business auto insurance.
While commercial general liability insurance is not required in Washington, it is highly recommended. This type of insurance offers protection from lawsuits and other legal fees that may 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 Stationary Store Insurance Washington quote in Aberdeen, Anacortes, Arlington, Auburn, Bainbridge Island, Battle Ground, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Burien, Burlington, Camas, Centralia, Chehalis, Cheney, Clarkston, College Place, Covington, Des Moines, DuPont, East Wenatchee, Edgewood, Edmonds, Ellensburg, Enumclaw, Ephrata, Everett, Federal Way, Ferndale, Fife, Gig Harbor, Grandview, Hoquiam, Issaquah, Kelso, Kenmore, Kennewick, Kent, Kirkland, Lacey, Lake Forest Park, Lake Stevens, Lakewood, Liberty Lake, Longview, Lynden, Lynnwood, Maple Valley, Marysville, Mercer Island, Mill Creek, Monroe, Moses Lake, Mount Vernon, Mountlake Terrace, Mukilteo, Newcastle, Oak Harbor, Olympia, Othello, Pasco, Port Angeles, Port Orchard, Port Townsend, Poulsbo, Pullman, Puyallup, Redmond, Renton, Richland, Sammamish, SeaTac, Seattle, Sedro-Woolley, Selah, Shelton, Shoreline, Snohomish, Snoqualmie, Spokane Valley, Spokane, Sumner, Sunnyside, Tacoma, Toppenish, Tukwila, Tumwater, University Place, Vancouver, Walla Walla, Washougal, Wenatchee, West Richland, Woodinville, Yakima and all other cities in WA - The Evergreen 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.