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What kind of liability insurance is required for a small used tool store?
Wiki User
∙ 10y ago
This would be general liability but you may be suprised how expensive it ends up. Used tools can result in bodily injury to the user, in which they could come back and sue you saying you sold the tool and it was unsafe. I don't think this is going to be a cheap insurance policy, probably $2,500 minimum per year no matter how big the company is.
Wiki User
∙ 10y ago
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Does a weed shop in CA have to have liability insurance?
Any brick and mortar store is required to have certain kinds of insurance to protect them and their customers against harm. This is a place of business - even churches have liability insurance policies.
Average cost of product liability insurance?
$0.99 I bought some at The Dollar Store
How much premisis liability insurance does a k mart store carry?
That's up to Kmart. They can carry as much or as little coverage as they choose. There is no law that requires them to carry liability insurance at all.
Insurance policy requuired in a high risk business and low risk business?
The type of insurance required for high and low risk businesses are generally the same, but the cost of insurance can vary significantly. However, some businesses may require special coverage that others do not. As an example, a liquor store may require liquor liability insurance, while a food store that does not sell alcohol does not.
What is the minimum amount of liability insurance coverage required for small businesses in the state of Florida?
If you are speaking of non-auto liability insurance for your business, the state imposes no requirements. That said, if you lease business space from a third-party, the lease may prescribe minimum insurance limits, and will generally require that the landlord be named as an additional insured. The amount of non-auto liability insurance that it is prudent to have is another question. It depends upon various factors, not the least of which is whether your business is open to the public (such as a store). If it is not, you will still want liability insurance to cover potential risk exposures relative to the products that you produce or sell. Overall, you have to look to the risk factors attending your business, and assets that you wish to protect. Your best bet is to consult a licensed commercial insurance agent/broker.
How much liquor liability insurance is required in the state of Alabama?
I have just contacted the local ABC board to apply for an alcohol license for my store.It is a minimum of $100,000.00 liquor liability insurance coverage for a store in the state of Alabama.heres the number for the abc board out of Montgomery :1-334-213-6313 in case you need more info than I can give.
Does Menards have liability insurance for customers in their stores?
Any kind of store should have insurance for customers that become injured on their premisis. If they don't have insurance, I would let them know that you will be speaking with an attorney.
Need business liability insurance for a leased space doing a dollar store what will this cover and recommend coverage for this type of business?
Commercial General Liability insurance protects you from a 3rd party bodily injury or property damage suit for which you are negligent. For instance, you own a dollar store and a customer enters your store trips over a loose rug and is injured. That customer has a right to sue you for his medical bills. Most tenants leasing space for retial stores will need a Business Owners Policy (BOP). This is a package policy for small businesses including General Liability Insurance and Property insurance for damage to your owned business property. The lease you sign with the landlord will detail the limits required and will ask that you name the landlord as "Additional Insured". Additional insured status protects your landlord under your insurance for suits brought against him for your use of his owned space. Consult an independent insurance agent for details about BOP policies offered in your state. William J Zester, Jr. Vice President MPPI, Inc. bzester@mppi.com
How do you get insurance for a small retail clothing store and what will it cost?
You pick up the phone and call your local insurance agent and ask them for a quote.
Does liability insurance cover you from an uninsured motorist?
No. Liability insurance protects you from claims by third parties if an occurrence is alleged to be your fault and the third party claims compensable damages. It indemnifies you (pays damages on your behalf), and provides a defense (hires and pays an attorney at its own expense-if it wishes to contest liability or damages). A liability insurance policy is triggered only if the allegations made against you arise from a type of risk contemplated by the policy--for example, an auto liability policy will not apply to a trip-and-fall claim made in a store that you operate. Uninsured motorist coverage is a different coverage. It pays to you the same kind of damages, based upon an assessment of relative fault and seriousness of damages, that the at-fault party's liability insurance would have paid if that person had liability insurance. It generally applies to only bodily injury damages-not property damage. A useful paradigm by which to think about it is that liability coverage is "third-party" coverage (pays to injured third parties based upon your fault), whereas uninsured motorist coverage is "first party" coverage which you maintain as a source of compensation for yourself if the at-fault has no bodily injury liability coverage.
Where can you find coverage for a Retail Sporting Goods Store that sells Guns and Ammo and also has indoor archery?
Assuming you mean insurance coverage for a sporting goods store, most major insurance companies insure operation of this type. Find an independent insurance agent that represents several companies, and he or she can guide you. If your business is in the U.S., you can also contact the National Rifle Association for information on shooting-related business insurance. You will need property insurance for the building and contents, and liability insurance. If you have not done so, you should consult an attorney regarding incorporating as a business.
Is broken goods an expense or liability please explain it to me in detail thanks?
Libability is defined as the state of being responsible for something. An expense is the cost required for something. Whether or not broken goods are a liability or expense depends on the detail surrounding how the goods were broken. The goods would be an expense for the store who owned the goods unless they insisted the patron pay for the item. They would be a liability if the broken goods cause harm to someone.
