Insurance For Tobacco Stores In Canada

Insurance For Tobacco Stores In Canada

Insurance for tobacco stores in Canada is an essential consideration every business owner must make. Your tobacco store relies on your reputation and referrals from satisfied clients. Insurance for tobacco stores requires special considerations based on the products you sell and how you want your business to grow. You’ll need to know what types of insurance your store needs and how to get it. Customizing your insurance to suit your business is a key factor in maintaining your success. In this article, you’ll find out how your insurance company can help you grow your business by helping you with liability concerns and avoiding downtime.

Tobacco stores like Walper Tobacco Shop offer high end cigars, humidors and pipes. They’ve been serving Kitchener-Waterloo since 1891 and maintain their presence as a tobacco focused store. Stores like Shakedown Street and Different Strokes are quick to embrace the legalization of marijuana in order to see their business grow. The insurance needs between these types of stores ranges greatly based on the risks each owner takes on as their business grows. Insurance for stores in Canada who sell marijuana also need to be aware of their special insurance needs.  Contact ALIGNED Insurance today at 1-866-287-0448 to talk about your tobacco store insurance.

What Types Of Insurance Do Tobacco Stores Need?

Tobacco stores need Commercial General Liability Insurance. In order for your insurance company to compensate you for legal costs, general liability insurance must be in place. This type of insurance coverage is used for claims related to customers who are injured in your store. These injuries could be anything from a customer tripping over the doorstep to claiming harm from fumes inhaled in-store. Therefore it’s important that you know your insurance company can help you keep your doors open during these types of claims.

In addition, tobacco stores also need Product Liability Insurance in case a customer claims a product is defective or malfunctioning. This could mean that a pipe is not working correctly, therefore product liability insurance will protect you in case the customer is harmed as a result of the defect. Insurance for tobacco stores in Canada should provide coverage for liabilities in and out of your store.

Every tobacco storeowner should consider getting Property Insurance.    If your business is mostly done online, maybe this type of insurance doesn’t need to be as extensive in order to provide proper coverage. However, if you run a brick and mortar location, you’ll need coverage for potential damage to your premises. This type of insurance is most commonly used for weather related claims, but can extend to property damages from other sources.

Insurance for tobacco stores in Canada should include Crime Insurance.   Your store is vulnerable to customer and employee crimes. Your insurance coverage should account for how many customers come into your store and how many people you employ. It’s important to be able to claim any losses that occur from employees stealing from you or customers committing credit card fraud.

Why Insurance For Tobacco Stores Should Be Customized

Your insurance company has to understand your business in order to create a package that covers you for all potential risks. Your business is not the same as any other retail store, nor is it the same as any other tobacco store. Insurance for tobacco stores in Canada has to account for the types of products you sell and the value of those products. Other factors that should be considered when your insurance company gives you customized coverage are: your location, your revenue, and the products you offer.

Where Do I Get Insurance For A Tobacco Store?

You can get an insurance quote started now. If you’d like to discuss your options for customized insurance with an experienced insurance broker call ALIGNED Insurance at 1-866-287-0448 now. We search through the 65+ top insurance companies in Canada to find you the insurance coverage that fits your business. We can help you feel confident that your business will continue to run smoothly.