At Goodrich & Watson, we provide comprehensive insurance for retailers throughout the Commonwealth of Virginia. We offer Commercial Property insurance that covers your building and contents, including inventory and personal property of others on premises. We also provide General Liability to cover injuries to non-employees and damage to the property of others that arises out of your business operations.
We can bundle these important coverages with a Business Owners Policy (BOP) specifically designed for retailers so you have your essential coverages together. This gives you convenient and customizable coverage options at a premium significantly lower than the cost of purchasing each type of insurance separately.
Employee theft is perceived by many to be one of the most severe problems facing the retail industry today, according to an annual retail theft study. Retailers feel cite several major reasons they feel employees steal. Those factors are:
Our Property coverage insures canopies, signage, glass breakage, and money and securities, which is critical for any business that accepts cash or checks. Our Inland Marine insurance can cover tools and equipment taken on installation jobs. If your business is one whose inventory value fluctuates with the seasons, you will be interested in our Peak Season coverage.
We also offer Business Interruption coverage in the event your business is shuttered due to a covered event. This will provide you with the financial resources to pay continuing expenses, such as payroll, utilities, etc., while repairs or rebuilding takes place. Also, Utility/Services Interruption coverage is available to protect your business if it’s affected by a loss of services, such as electrical, telephone, air conditioning systems, sewage and other services that are vital to your business operation.
Included in our portfolio of products is Crime insurance, which provides protection for employee dishonesty, forgery or alteration, theft of money and securities, burglary or robbery, and computer fraud.
Your insurance program can also include Flood insurance, which can save your business in the event of such a natural catastrophe.
Our General Liability policy is designed for retailers and enhanced to include several coverages such as Product Recall, Broadened Pollution Liability, among others.
We also recommend purchasing a separate Cyber Liability insurance policy to protect against potential data breaches where your customer’s credit card information is compromised. And, keep in mind that we offer Employment Practices Liability Insurance and Workers Comp, both of which are critical to the protection of your retail operation.
We look forward to speaking with you about your retail insurance needs. Please give us a call at 757-591-2032 to find out how we can help protect you today and into the future.