What is Sporting Goods Store Insurance?

Selling sporting goods comes with many of the risks that general retailers face, as well as potential risks that are specifically related to the sporting goods sold. One way that sports stores in Vermont can protect themselves from many of these general and specific risks is by purchasing sporting goods store insurance.

Sporting goods store insurance is a specialized commercial insurance that’s uniquely designed to meet the needs of stores that sporting goods. Because these stores face multiple risks, most policies come as package policies that have multiple coverages within them.

What Businesses in Vermont Need a Sporting Goods Policy?

Any Vermont retailer that specializes in sporting goods may benefit from the protections that a sporting goods policy affords. This includes both general sporting goods stores, as well as specialized stores that focus on hunting, biking, golfing, skiing or other outdoor activities.

In particular, stores that sell firearms should look for a sporting goods policy that’s well-designed to protect against their potential risks. Selling firearms generally presents increased risk exposure, as stores could be responsible if there’s a gun accident. Highly specialized gun store insurance policies normally take such increased risk into account and offer additional protection.

Stores that are unsure whether they need a sporting goods policy should consult with a specialized insurance agent. An agent who’s familiar with gun store insurance, ski store insurance and other sporting goods store policy options will be able to guide a store toward the right type of policy.

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What Coverages Do Sporting Goods Store Policies Provide?

Sporting goods store policies make a variety of coverages available. While not every policy offers every coverage, many policies make certain coverages commonly available. Some of these common coverages include:

Businesses that have high levels of inventory at certain times of year may supplement their commercial property coverage with an endorsement that increases their property protection. An endorsement adds a specific protection onto a policy, and one for increased inventory coverage is sometimes available.

How Can Gun Stores Protect Against Their Liability Risks?

Selling guns or other weapons presents significant potential risks, as an accident can have potentially lethal consequences. In order to protect against weapon-related risks, stores that sell these items should seek out a gun store insurance policy that comes with high limits. An insurance agent can help determine exactly how high a store’s limits should be.

Importantly, stores that purchase gun store insurance often have specific safety protocols to follow. These protocols are required in order to reduce the risk of an accident, and they should be followed at all times. Not following protocols could potentially jeopardize a gun store policy’s protection.

How Much Are Sporting Goods Store Policies?

Premiums for sporting goods store policies vary, depending on a store’s location, items sold, coverages needed and other factors. An independent insurance agent can help stores request quotes from multiple insurers to see how much insurance will be in a given situation.

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How Can Stores in Vermont Get Sporting Goods Store Insurance?

For help insuring a sporting goods store that’s located in Vermont, get in touch with the independent insurance agents of Paige & Campbell Insurance. Our agents can help you compare policy options from many insurance companies in the state, and we have the expertise necessary to help you decide which sporting goods store insurance policy best meets your store’s needs. With our assistance, you can be confident that your store is well-protected.

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