Convenience Store Insurance in Vermont

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
Bodegas
Newsstands

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.

What Protections Are Included in Convenience Store Policies?

Since businesses can frequently adjust the particular protections in their policy, there isn’t one set of protections that’s found in every convenience store policy. There are, however, many protections that are made widely available as either property or liability coverages. The former typically protect a business’ physical assets while the latter usually protect a business against liability suits.

Some of the more common property coverages that stores may need include:

Building Coverage, which usually insures owned buildings
Tenants Betterment Coverage, which usually insures improvements made to a leased space
Contents Coverage, which usually insures inventory, fixtures and equipment
Equipment Breakdown Coverage, which usually insures vital equipment against breakdowns
Spoilage Coverage, which usually insures perishable goods against spoilage following a disaster

Mike Bancroft is simply an amazing agent. When my business got burglarized, I was so upset and didn't know what to do. I contacted Mike and he was very prompt in calling me back and he put my mind at ease. He made me feel so much better and handled all of the paperwork immediately. His customer service is top notch and I highly recommend him to be your insurance agent!

Becci Kepnes-Letourneau

Our business was with the same trusted agent for over 20 years. Mike Bancroft offered to evaluate our policies and see if he could save us some money on both Workmen's Comp and general liability. He did, and in the process even moved us to better coverage. Mike also offers a superb quality of service. Cannot recommend highly enough.

StoryWorkz Creative

Mike Bancroft has been great to work with. He has assisted with my Business Auto, Tool Coverage, Homeowners and all other types of insurance needs. I wouldn't be surprised if they change their name to Paige, Campbell & Bancroft soon!

Lance Garrett

Extremely prompt, personable, and professional service! Despite only needing a workers' comp policy for one employee, Paige & Campbell was very receptive and ensured to shop my policy around to ensure I received a great price that was almost half of what another broker quoted me.

Jennifer L.

A few of the liability coverages that stores might need are:

General Liability Coverage, which might cover accidents occurring on store property
Product Liability Coverage, which might cover accidents involving sold products
Employment Practices Liability Coverage, which might cover employment discrimination claims
Cyber Liability Coverage, which might cover online threats and other digital risks
Liquor Liability Coverage, which might be needed if a store sells alcohol
Pollution Liability Coverage, which might be needed if a store sells gasoline
Umbrella Liability Coverage, which might offer a secondary level of liability protection

In addition to these, some stores might also want employee dishonesty coverage, crime coverage, business interruption coverage or other protections. An insurance agent who specializes in these policies will be able to help store owners select the coverages that make sense for their stores, and then the agent can find a policy that includes those coverages.

Do Convenience Stores Need Workers Compensation Coverage?

Many convenience stores have employees and need workers compensation coverage. Insurance agents who assist with convenience store policies can also help find workers compensation coverage.

How Can Stores in Vermont Get Convenience Store Insurance?

For help finding convenience store insurance, contact the independent insurance agents at Paige & Campbell Insurance. Our agents have assisted many Vermont convenience stores, and we’re ready to help you find coverage for your store.