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Before you start a boutique in Laurel, Maryland, it is important to protect your business with commercial insurance. If you leave your business uninsured, you can incur burdensome costs that lead to bankruptcy. While every business is unique, you will usually need to mix and match several different types of coverage to receive adequate protection for your start-up retail operation.
Liability Insurance
If an employee or a customer is injured in your store, you may be sued and found legally liable for the accident. Legal expenses can add up fast, so it’s important to protect your business from potential lawsuits. Liability insurance affords protection by covering your legal expenses in the event that your business is sued.
Commercial Property Insurance
The most valuable items in your business will likely be stored inside of your boutique. Commercial insurance is a must because it protects the building you conduct business in and your inventory. Commercial property insurance kicks in when flooding, fires, or other types of hazards cause damage to your business.
Theft Insurance
Retailers can especially benefit from adding theft coverage to their insurance policy. If you have a retail operation, shoplifting is inevitable. Your store will have merchandise that looks good to paying customers and shoplifters alike. Prevent thefts from eating into your profits with this crucial form of coverage.
Contact an Independent Agent
The types of insurance that you will need will depend on the size and scope of your business. An independent agent can walk you through the process of selecting the right level of coverage for your start-up boutique. We can also help you compare policies between different insurance companies so that you can receive the best premiums. Contact us today to speak with an independent insurance agent about your business insurance options.