A Business Owner’s Policy (BOP) combines common business coverages (General Liability and Property Insurance) into one convenient policy. It’s a great fit for Cell Phone Stores and provides the flexibility to add additional coverages based on your business’s needs. Alternatively, if separate General Liability and Business Property polices are needed a commercial package with both can be customized for your business.
Cell phone stores are a growing market given today’s consumer demand for smartphones and portable tech. As a retail operation your business faces the potential risk of damage to inventory and property along with liability exposure from your operations and locations. Cell phone store insurance is critical to the protection and ongoing success of your business.
Many cell phone stores will be eligible for a tailored Business Owner’s Policy that includes coverages for common losses associated with the operation of your business.
Key Coverages for Cell Phone Stores
Business Interruption Coverage
Business Interruption is often included in a BOP or can be added. It helps pay your bills, expenses and employees in the event your business is forced to temporarily close due to a covered loss. For example, if a fire damages your store and you are forced to close during repairs.
We live in a digital world and most businesses, even those traditionally considered “offline” continue to have an increasing digital footprint. Technology brings incredible capabilities to our fingertips. Unfortunately, it also brings additional risk. Cyber coverage has become increasingly popular to mitigate the impact of data breaches, downed computers and networks and the losses that result.
Also referred to as commercial auto, business auto can be very straightforward (insuring vehicles your company owns) but also confusing (i.e. using personal vehicles for business). While many of the coverages are similar to that on a personal auto policy, the limits and conditions can be very different and may vary based on the use of the vehicle.