Running a cell phone store can be a lucrative business for a small business owner. Cellular phone establishments have been a growing industry for years now with no sign of slowing down. But maintaining a successful cell phone store business requires more than just keeping up with inventory, staffing and marketing.
With more and more advanced cell phones, you can expect highly-priced inventory and stock at all times. As of 2018, the average price of a smartphone in the United States is in excess of $350. In the event of a catastrophe such as fire or theft, are you willing to risk taking a hefty loss?
Cell Phone Store Insurance
Cell phone store insurance is key in safeguarding your valuable business. Along with certain preventative measures, carrying adequate cell phone store insurance will ensure that your business is safe from a variety of risks of loss.
Commercial General Liability
CGL protects your business in the event of an injury to any third party as a result of your business and its operations. Common commercial general liability claims of loss include injury from a slip and fall as well as damage to a customer’s phone while in your possession.
Business Personal Property
Business personal property is coverage your cell phone store needs to protect losses to any inventory, fixtures, equipment, or any other contents. Generally, property losses occur as a result of fire, water damage, or theft. A commonly overlooked coverage, business personal property is a vital part of a cell phone store business insurance policy.
In many states including Illinois, workers compensation insurance is mandatory and a requirement for every small business with employees to carry. Read more on workers compensation here.
Cell Phone Store Insurance Quotes – We Can Help!
Insured ASAP is a Chicago based commercial insurance agency focused on helping small business owners attain affordable business insurance coverage. Our ability to work with multiple national insurance carriers allows us to provide the most affordable insurance quotes and policies.
Contact us today for a quick and easy insurance quote. In most cases, a competitively-priced insurance proposal is offered by immediately via phone!