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Home > Retail Insurance | Daytona Beach, Palm City and Throughout Florida | Iten Agency

Retail Insurance


Retail Insurance Information

Being the owner of a retail store can be a fulfilling endeavor. Nevertheless, retail operations also come with a range of potential risks, including property and merchandise damage, general and product liabilities, crime and business continuity. What’s worse, poor management of these risks can result in costly consequences, thus making it increasingly difficult to keep your establishment running smoothly. It’s important to secure commercial insurance benefits that can offer adequate protection for your retail store. 

While it may seem daunting to try to determine precisely which business insurance benefits your retail store needs, Iten Agency can help you navigate these coverage decisions. We offer benefits from a network of trusted carriers. With our help, you’ll be able to purchase retail insurance solutions that are both cost-effective and personalized to your specific operations.  

Be sure to give us a call at 954-680-0360 to discuss your retail coverage options today.  

Common Retail Insurance Questions:  

How Does Retail Insurance Work?  

You truly never know when an unexpected event—whether it’s a fire, natural disaster, robbery or accident lawsuit—could wreak havoc on your retail store. Further, you don’t want to face the prospect of having to pay for any resulting recovery expenses. After all, these unanticipated events could threaten your store’s operations, finances and overall reputation. Fortunately, retail insurance can help mitigate these losses—getting your store back on its feet and fully operational in no time.  

Keep in mind that retail insurance is not a singular commercial policy. Rather, it’s an umbrella term that refers to a variety of business insurance options that the average retail store may need. It’s up to you to put together a combination of suitable benefits that meet the needs of your establishment. 

What Does Retail Insurance Cover?  

Retail insurance can pertain to a wide range of coverage options for your store, including the following:  

  • Commercial property insurance: If an unexpected event results in the damage or destruction of physical property—such as your establishment or its possessions—this form of coverage can help pay for property repairs or replacements. 

  • General liability insurance: This type of policy can protect your store in the event that it is held responsible for causing property damage or bodily injuries to another party, such as a customer or vendor.  

  • Business interruption insurance: This form of coverage can help you pay the bills if your establishment must temporarily close after a damaging accident or unanticipated event.  

  • Products/completed operations liability insurance: In the event that your store faces a lawsuit after a customer is harmed or experiences other damages from using any of your products, this coverage can provide protection. 

  • Equipment breakdown insurance: This form of coverage can offer assistance following the unexpected breakdown of key equipment in your establishment, such as a malfunctioning point-of-sale system. 

  • Commercial auto insurance: If your store owns any vehicles, this coverage will supply the requisite physical damage, liability and other benefits to help the store afford the costs of potential collisions or other vehicle-related hazards.  

  • Commercial crime insurance: This type of policy can provide protection from losses following a business-related crime. Covered events typically include burglary, forgery, fraud, extortion, employee dishonesty and the theft, destruction or damage of money, securities or other property.  

  • Workers’ compensation insurance: If any of your store employees become ill or get injured on the job, they could be eligible for workers’ compensation coverage. This type of insurance can supply them with supplementary income during their recovery.  


Apart from these coverage options
, there are many other commercial policies available that can help safeguard your retail establishment against specific risks and liabilities, such as:
 

  • Inland marine insurance  

 

  • Employment practices liability insurance (EPLI)  

  • Cyber liability coverage 

  • Umbrella liability insurance  

  • Hired/non-owned auto liability coverage  


Retail store owners can often
 benefit financially by bundling their key forms of coverage into a business owners policy (BOP). A BOP allows business owners to obtain multiple benefits—including property, general liability and business interruption insurance—in a single place and at one price.
 

Several of these policies might be mandatory for your retail store, depending on local insurance regulations. Make sure to speak to your agent for more information. 

Who Should Have Retail Insurance?  

All retail establishments—regardless of specific operations and characteristics—need sufficient retail insurance solutions to ensure proper protection.  

Examples of businesses that should prioritize purchasing retail coverage include clothing stores, florists, jewelry stores, pet shops, grocery and liquor stores, convenience shops, electronics stores, hardware shops, e-commerce operations and more.

How Much Is Retail Insurance?  

All of the retail insurance policies you purchase for your store will have different costs, based on both the coverage you select and the risk factors that the insurer assumes by covering you.

Companies We Work With

The companies we work with are some of the best in the industry. We look at each one annually, evaluating pricing and customer service levels, so you can expect a smooth and fair process.

 Carrier Carrier Carrier  Carrier Carrier Carrier Carrier Carrier Carrier geovera logo Carrier Carrier Carrier Carrier Carrier slide logo Carrier Carrier Carrier Carrier vyrd logo Carrier Carrier Carrier Carrier Carriertyp tap logoCarrier Carrier Carrier Carrier
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Davie Office
5905 S University Drive
Davie, FL 33328

Port Orange Office
5889 S Williamson Blvd, Suite 1429
Port Orange, FL 32128

Palm City Office
4221 S.W. High Meadow Road, Suite 201
Palm City, FL 34990
Davie/Main Office: 954-680-0360
Palm City: 772-206-4411
Orlando: 407-635-8100
Southwest Florida: 941-253-5757
Port Orange: 386-761-4374
Call us today

info@itenagency.com
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Careers opportunities at Iten Insurance Agency

We are currently hiring for Personal Lines Customer Service and Commercial Lines Service. Please feel free to email us your resume at info@itenagency.com.


We look forward to hearing from you.


See something you are unsure about? Take a look at our
Policy Glossary

The above description provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.


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