What protections do ice cream shop policies make available?
Most of the protections that ice cream shop policies offer are categorized as property coverages or liability coverages. Property coverages normally protect assets that a shop owns. Liability coverages normally protect against situations where a shop could be sued.
Some property coverages that these policies commonly make available are:
- Building Coverage: May cover an ice cream shop’s building if it owns the building.
- Tenants Betterments Coverage: May cover a shop’s build-out if it leases a space.
- Contents Coverage: May cover ice cream machines, small wares, inventory, and other items.
- Equipment Breakdown Coverage: May cover ice cream machines if they break down.
- Business Income Coverage: May cover lost income if a shop is forced to close due to a covered event.
Business income coverage can be especially important for ice cream shops in Massachusetts. Shutting down in early summer might cost nearly a full year’s income, so having protection against covered closings could be vital.
Some liability coverage that these policies usually have available are:
- General Liability Coverage: Might cover basic accidents occurring at an ice cream shop that result in customer injury.
- Product Liability Coverage: Might cover choking, other injuries, or illnesses that customers suffer because of ice cream or other foods.
- Umbrella Coverage: Might provide a second layer of liability protection in case of an expensive lawsuit.
Ice cream may seem like a fairly innocuous product to sell. Product liability coverage generally shouldn’t be overlooked, however. Kids are sometimes playing or running while eating ice cream, increasing the risk of choking on a nut, piece of banana, or sundae cherry. Property liability might cover choking incidents like these.
What’s a business owners policy?
A business owners policy (BOP) is a basic commercial policy that bundles several important coverages together. One typically comes with commercial property, business income, and general liability coverages. Some BOPs might be supplemented with product liability and a few other common protections.
Depending on the specific coverages offered, a BOP could be a good choice for ice cream businesses. An insurance agent specializing in ice cream parlor insurance can help determine whether this or another policy type would be the right choice for a business.
How much are the premiums for ice cream shop policies?
The cost of insuring an ice cream shop varies based on several factors, typically including the shop's location, its type of space, annual sales, and any past claims history. Despite these variables, premiums are normally affordable when considering the broad protections offered.
To find out how much insurance would cost for a specific ice cream shop, owners can consult with an independent insurance agent. Independent agents are able to request custom quotes from several insurance companies.
How can businesses get ice cream shop insurance?
For help insuring an ice cream business located in Massachusetts, reach out to the independent insurance agents at Norwood Insurance Agency. Our agents understand ice cream shop insurance well, and will make sure your business is properly protected.