Do Grocery Stores Need Insurance?

In many towns and cities across the country, the local grocery store serves as a type of community center. As a grocery store owner, you know that your services benefit a wide range of people, and you take pride in knowing that you offer goods that cannot be found anywhere else. However, do you have the grocery store insurance that you need to stay in business should something happen at your facility?

Shopping Center Risks

Unlike other industries, the retail sector has exclusive risks that involve the behavior of customers. Whether it is shoplifting or a slip and fall inside your store, you are often held responsible for the problems that you could face. Without grocery store insurance, you could end up dealing with significant losses that may have been taken care of with the proper coverage.

Requirements for Insurance

Obtaining an insurance policy is important, but store owners should be aware of the requirements that many insurance companies necessitate in order to qualify for coverage. Some of the most common include the following:

  • No sale of firearms
  • Less than 20 percent of income from liquor sales
  • No residences on site

Store owners who wonder if they need grocery store insurance may want to look into speaking with a professional broker who can provide the needed information regarding the correct policies and options for each stores’ specific needs.