Industry-Specific Insurance Options

No matter what industry your business is in, there are specific insurance options that you should consider to help you guard against the unique risks of your enterprise. While we can’t list all the options available on this post, here are a few examples:

1. Dry cleaners insurance:

   When you take on the challenge of cleaning your customers’ clothes and other textiles, you have the added responsibility of returning these items in the same, or better, condition as you received them. But accidents can happen in even the most professional dry cleaning environment. Too much chemical can be used on expensive slacks, beads can fall off pricey gowns, and posh suits can be handed off to the wrong customer. Dry cleaners insurance protects your property, provides general liability and gives you a certain amount of protection per incidence of damage to customer goods.

2. Restaurant insurance:

   Restaurant owners not only need to protect their commercial property (including cooking equipment, tableware, tables and chairs) but also need to guard themselves against liabilities. Restaurant insurance provides protection for food spoilage due to machinery breakdown, employee dishonesty, business interruption and liquor liability, as well as many other situations.

3. Retail and office insurance:

   When you have a retail space or office, you have consistent foot traffic coming onto your premises, and that means consistent injury and property damage liabilities along with exposure to theft and vandalism. Retail and office insurance, often sold under the title of business insurance, can protect you from the financial fallout caused by these liabilities.

4. Errors and omissions insurance:

   If you are in the financial industry, then you are looked upon as an expert, and people rely on you to grant full disclosure about the products you suggest. Further, they expect you to complete forms carefully and not leave out any pertinent information. If your accidental negligence, also known as an error or omission, causes financial damage to one of your clients, you could be liable for those damages. Errors and omissions insurance policies offer you protection from this liability.