Online shopping just can’t replace the experience of browsing aisles of books, music, and movies. Bookstores, music shops, and movie rental businesses are an important part of any community. Local authors and artists often get started by promoting their work in local shops.
If you own a retail business that sells books, music, movies, or any other form of media, you have certain risks that should be considered. Let’s take a closer look at these and how you can identify an insurance policy to reduce risk.
Common Risks Facing Your Business
If you’ve been in business very long, you have likely dealt with at least one of these issues:
- employee theft
- employee injury due to heavy lifting
- personal injury on premises
What type of coverage does your business need to mitigate these risks? When was the last time your agent called to talk about your insurance options? It may be time to reevaluate your coverage based on what is most important for your business.
Merchandise such as collector’s items, DVDs, e-readers, and sound systems can be at a high risk for theft, whether by shoplifters or employees. It’s very important for your store to be protected by property insurance that covers your business and inventory in the case of major theft or vandalism. Property insurance also protects your building and contents in the event of a fire, tornado, or storm damage. Depending on your location, you may also want to consider flood insurance.
Protect Your Employees
From entering data into the computer system to moving boxes of merchandise around the store, virtually anything could lead to an employee injury. Back injuries, carpal tunnel syndrome, a broken toe – all are common employee injuries that could lead to unforeseen medical expenses. Workers’ compensation coverage is essential for any business with employees, but especially businesses that involve moving merchandise around. Protect your employees and your business. In the state of Indiana, it’s the law.
A general liability policy will cover your business for injuries that occur on your property. If a customer slips and falls and breaks an arm, your general liability policy will cover associated medical expenses. Without this coverage, medical bills and other unexpected costs could threaten your business.
Insurance for Book, Movie, and Music Stores
Kincaid Insurance, headquartered in Rockport, Indiana, offers business insurance policies that are tailored to your needs. Our independent insurance agents are trained to help you find the coverage that protects your business without going over your budget. We regularly work with book, movie, and music retail stores in Indiana, Illinois, and Kentucky. Our customers are found throughout the Tri-State area, including: Jasper, Louisville, Vincennes, Evansville, Owensboro, Newburgh, and Mt. Vernon.
Call Kincaid Insurance today at 1-877-888-5506. We’ll help you assess your needs and provide you with a free, no-obligation quote.Request a Free Quote