Vape and e-cigarette retail stores sell high-valued and unique products that come with complex risks. The vaping market in Canada is subject to strict Health Canada regulations, putting your store under the microscope for any products that fall short of these requirements.
As a vape shop owner, you understand that your inventory is likely more valuable and expensive than what is typically found in a traditional tobacco store. There is also a good chance you are passionate about the products you sell, so protecting those products should be one of your top priorities.
Without the proper insurance protection in place, you can be left on the hook for claims such as injuries, theft, damage, and lawsuits. These claims can result in extra downtime to recover and can be financially devastating to your business. The relatively new methods of vaping and lack of science and historical data available can make finding the right vape insurance a challenge. Luckily, there is still vape insurance available in Canada that will help protect your business and financial assets in the event that you do experience a claim.
Whether you sell, manufacture or distribute vaporizer and smoke products, some of the main coverage types you should consider when building your insurance package are Commercial Property, Commercial General Liability and Business Interruption. You should also review your current insurance policy and read the fine print for liability exclusions such as coverage of bodily injury or property damage caused by vaping products.
It is important to work with a broker that is knowledgeable in the complexities of insuring a vape, smoke or e-cigarette retail store. The brokers at Fuse Insurance are experts in the specialist insurance area and understand the types of risks you face in the vaping market. We work with the top specialty insurers in Canada in order to provide customized insurance packages that protect all aspects of your business, whether your retail store is in BC, Alberta, Saskatchewan, Manitoba, or Ontario. To get a quote today, use our online form or call 1-866-387-FUSE (3873) to get in contact with a Fuse Insurance broker.
