What is Convenience Store Insurance?
Keeping a convenience store running requires a sizeable upfront investment and ongoing reinvestment. The many resources that are poured into these stores should be protected when possible, and that’s what convenience store insurance policies help Vermont store owners do.
Convenience store insurance is a specialized form of commercial insurance that’s uniquely developed for convenience stores. Policies are generally written as package policies, combining several coverages together so that they offer multiple protections, and owners can usually adjust the coverages in a particular policy to suit their store’s needs.
What Businesses in Vermont Need a Convenience Store Policy?
The protections found in convenience store policies are helpful to a variety of businesses in Vermont, and many smaller stores may want this type of policy. Specifically, the following businesses might be interested in a convenience store policy:
- General stores
- Convenience stores
- Corner stores
- Mom-and-pop stores
In certain situations, businesses like these that finance the purchase of a building may be compelled by the terms of their loan to purchase a minimum amount of insurance. Such requirements are common in loans, and they’re normally used to help make sure the financial institution’s investment in a building is protected.
Regardless of whether insurance is compulsory, however, purchasing a policy that provides robust protection is normally wise. The cost is typically affordable, and suffering a major claim with no coverage in place can be financially devastating.