Clothing Store Insurance and Wholesale Clothing Insurance
Clothing Store Insurance Coverages
If you are looking for a quote for a retail and/or wholesale clothing store, there are a lot of insurance coverages you need to consider.
Why Consider Clothing Store Insurance and Wholesale Clothing Insurance? Clothing stores are very inventory intensive. Most of your Clothing Store’s business investment is in your stock. A bad insurance related loss could destroy your inventory and put you out of business permanently.
Clothing is very perishable
Not only can clothing be destroyed as a result of direct fire damage, but a nearby fire that creates enough smoke and fumes can destroy clothes. A pipe burst or sprinkler leakage that leaks water either directly on clothes or indirectly can destroy cloths. The indirect result could be mold, mildew, condensation etc. Clothing is one of the most expensive perishable types of inventory. Clothing can easily be destroyed. Once clothing is destroyed, there is not much you can do with it. It usually needs to be thrown out or given away.
We Understand Clothing Store Insurance and the Potential Hazards
At Castle Rock Capacity Insurance Agency, Inc. we try to address these issues using insurance as a tool. We understand the coverage’s that are needed to protect your business assets. We utilize insurance companies who provide comprehensive coverage and do it with extremely competitive premiums. We take the time to review your current coverage as a free service, we look for the holes in coverage and do our best to address the needs of the retail and/or wholesale clothing store. We can also provide coverage for clothing designers.
Clothing Store Insurance Coverages
We can provide coverage while your merchandise is in transit from your domestic or international manufacturing plants or from your distributors or to your customers and clients.
Some other insurance overages that are important to a clothing store are:
Clothing Insurance – Property Insurance Coverage
The Property Insurance on your Clothing Insurance Policy can insure that the buildings that you own and/or business property and inventory against physical loss or damage.
If you don’t own your building, you’ll still need to insure the contents. In most Retail Clothing Insurance and Wholesale Insurance Policies, property insurance for business contents covers furniture, fixtures, inventory, office equipment and other supplies stored at your facility or off-premises. You may insure those items for replacement cost or for actual cash value (ACV), which pays only for the depreciated value of the property.
Replacement cost policies have higher premiums, however they can help your business recover from a loss faster, since you can replace all of the lost or damaged property with new items. If you lease some of the equipment at your business, the leasing company may require that you insure the property at replacement value.
Business Interruption Insurance
If there is an insurance related loss, a business cannot move back into the premises, it must make other arrangement. At an additional premium, we can provide coverage that will pay for your business to relocate and set up shop again in similar space to what you were originally operating in.
Bodily Injury Liability
Liability coverage for your Retail or Wholesale Clothing operation may pay the affected person or firm for the cost of care, the loss of services and restitution for death that results from an injury.
Property Damage Liability
In the event your business causes damage to, or causes the loss of use of someone else’s property, property damage coverage may pay for the value of the physical damage to the property; or the loss of use of that property.
Some other coverages would be the for the insurance company to pay for the recreation your accounts receivables and valuable papers.
