Being the owner of a butcher shop can be very demanding. Having to deal with customers and employees on a daily basis, while at the same time keeping up with the operations keeps you occupied all day long.
Every business owner fears failure. Often these come in form of unexpected scenarios that creep up on us.
Insurance can help protect your business against these unexpected losses. So when you decide to get your butcher shop insured, keep these factors in mind.
Property Damage Coverage
- Building coverage
The building where your butcher shop is located will require insurance coverage. It will protect the business against any damage to the building caused by any natural event, vandalism or fire.
- Property Coverage
Whatever the business owns—in terms of land—needs coverage against damage, fire, theft and natural disasters.
- Machinery Coverage
Butcher shops own machinery that they use to grind the meat, and commercial freezers where the meat is stored. The shop will also own air conditioners or heaters depending on the weather. All these items qualify as machinery that needs insurance coverage.
This kind of coverage offers protection to the business against a number of situations:
- Accidents & Injuries
In the case any employee working in the butcher shop suffers injury while on the job, premises liability coverage will protect the business, since you as the business owner will be held liable.
- Negative effect on consumers
If any customer falls sick after purchasing meat from your shop—if it were deemed unhygienic or if it contained substance that resulted in illness—product liability insurance will protect your shop from suffering the costs of a lawsuit (if it came down to it).
- Illegal business practice
If any employee files a lawsuit against your business claiming you are involved in illegal business practices such as terminating employees without a valid reason, employee practices coverage will protect your butcher shop.
If you have a delivery service for your butcher shop, you need to ensure that it is covered. The operations of your business are dependent on these vehicles. If an accident occurs, orders will be put on hold.
When purchasing vehicles, make sure they are insured; this will make sure appropriate repairs are made, in time, so that your business transactions are not affected because of the unavailability of vehicles.
The best way to find options when it comes to insurance is to compare quotes online. 365insurance is dedicated to helping customers choose the right kind of insurance policies in Australia.