As a furniture business, you have customers coming into your store every day to view and test the items in your showroom. Stocking, selling and delivering high-valued items leaves plenty of room for unexpected damage that can disrupt your business. Furniture insurance is critical in order to protect your business from accidents and legal claims. The brokers at Fuse Insurance understand the risks involved in selling furniture and can provide customized insurance packages that protect all aspects of your business.
If you sell any of these items, you should consider Furniture and Décor Insurance:
- Custom-made furniture
- New or used furniture
- Refinished and vintage furniture
- Home décor items
- Mattresses
- Office furniture
- Commercial furniture
- Industrial furniture
- Locally-made furniture
What types of insurance do furniture stores need?
Commercial Property
As a furniture store, many of the items you sell are highly flammable. They are also susceptible to water and smoke damage. Commercial Property coverage will protect the contents of your furniture store and warehouse from fire, smoke, windstorms and water losses.
Commercial General Liability
Commercial General Liability coverage protects your business from slips, trips and falls in your store and the pathway and parking lot surrounding your property. It also provides coverage for legal fees and lawsuits that can result from damage or injuries to your customers and their property.
Equipment Floater
If you use forklifts or other equipment to handle furniture in your warehouse, you would benefit from equipment insurance, which will cover the repair or replacement if your equipment breaks down and you are unable to perform your usual tasks.
Product Liability
Product liability exposures could be a concern if you sell children’s furniture, bedding, or do customizations to your furniture. If you sell custom furniture or directly import your products, you are seen as a manufacturer as well as a retailer and will need your insurance adjusted accordingly.
Commercial Auto
Whether you own a fleet of vehicles for furniture transport and delivery or hire out a delivery company, you need commercial auto insurance to protect your business from liability risks.
Cyber
If you use a computer system to track your inventory or store your customer’s account information, your business is at risk to cyber exposures. If your company’s POS system gets hacked, you could risk exposing the information of your customers, having your entire computer system shut down and hurting your overall reputation.
Business Interruption
Business Interruption will provide coverage if your business is forced to shut down due to an insured peril listed under your property policy. You can also add Extra Expense coverage, which will provide protection if you need to hire more staff during your shut down or set up a temporary furniture store location while your building is being repaired.
Owning a retail furniture store can expose you to a number of risks, but having the right insurance program will help you be prepared if an accident strikes. The expert brokers at Fuse Insurance will work with you to develop a customized package that addresses all of your risk exposures, so you get the precise protection that you deserve. We work with Canada’s top-rated insurers to secure the best coverage and pricing for your business, whether you have one store or many across the country. Contact us today to get started on your free quote by calling 1-866-387-FUSE (3873) or fill out our easy online application.
