Thrift Store Insurance Oregon While thrift shops have always been a big part of American commerce, the 2008 recession brought them to unprecedented prominence - even hipness. And while the increasing popularity was good news for thrift shops financially, it also meant that these shopping hubs now faced greater risk exposure than ever before.
Even now, thrift stores are finding themselves very busy with more walk-in than average. That is why having thrift store insurance Oregon is important.
Thrift store insurance Oregon protects your business from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Products Liability - usually part of the general liability policy, this type of thrift store insurance Oregon coverage is especially important. You are in the business of selling used products and if one is faulty or causes injury, you will need protection in your commercial business insurance policy. This will cover expenses for medical care or damages caused by one of your products.
OR Commercial Auto - Does your thrift store use vehicles to pick-up donated goods? If so, you need a business auto policy that protects the vehicle and others driving on the road. A normal personal insurance policy does usually does not cover a vehicle used for business use.
Stock Insurance - This coverage is straight forward, you are covering the value that you have in stock at the premises - this is the purchase cost, it doesn't include your margin, as nice as it would be insurers won't pay your profits on stock. Thrift store insurance Oregon policies usually automatically have a provision for seasonal increase; this is usually for Christmas, Easter and other times of the year where your stock will be increased and therefore have a higher value.
Equipment Breakdown - This thrift store insurance Oregon protects against breakdowns caused by power surges, motor burnout and operator error. Equipment breakdown insurance covers all sorts of equipment - mechanical and electrical equipment, computers and communication equipment, air conditioning, etc. This coverage pays for the cost to repair or replace the damaged equipment and the costs for time and labor to repair or replace the equipment.
Wouldn't it be nice if your thrift shop could be entirely protected from lawsuits by the honorable nature of your work? Sadly, that's just not the world we live in. If you run a OR thrift store, you could be sued if things don't quite go as planned. Luckily, commercial insurance can help to protect your store, and your own assets, against such sticky situations.
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