Exposures Faced by Neighborhood Store Owners

Convenience stores have been around for decades, offering neighborhoods and those passing through a quick and easy opportunity to pick up some needed items without the ordeal of long lines at supermarkets. These “corner stores” carry a variety of products, many of those same items found in most markets and these “quick marts” were designed to meet the needs of people in a hurry. Many of these shops offer other services as well, such as gas and diesel fuel, car washes, even partnering with fast food companies and sharing their square footage with popular chains that bring in more traffic.

Convenience stores do face risks and concerns much like their larger counterparts, and operating a business of this type means liability issues, the threat of theft, burglary, vandalism and other pertinent concerns. They must also address issues pertaining to the property the business resides on, along with any existing dangers in the products and services they provide to customers. Convenience stores insurance is required for the number of exposures they could find themselves having to deal with.

Property damage could result from dangerous ignition

For stores that double as gas stations, permitting people to smoke while pumping fuel into their vehicles is strictly against the law. Gasoline and other fuels are highly toxic and extremely flammable. Also, food heating units, refrigerators, etc., may become overheated or overloaded resulting in a fire hazard. If an establishment does provide for gasoline sales, there’s the additional exposure to fumes, as well as the potential for a fire or an explosion. The amount of property damage that could occur needs to be properly insured.

Crime, liquor sales, accident injuries are also concerns

Exposure to criminal activity, such as a robbery or burglary can create a serious financial loss and can put patrons and employees in harm’s way. Another issue is employee dishonesty, and liquor liability exposures, from selling liquor to underage individuals, to purchases made by people who may already be inebriated. Store owners may even need auto insurance for company vehicles, or to cover hired or non-owned liability exposures for employees that use their vehicles to perform errands.

In addition to workers comp, Convenience stores insurance should be purchased to address liability exposures due to slips and falls occurring to patrons, whether from oil spills and auto residue on the exterior floors, or due to wet floors inside bathrooms and on floors where there is a lot of foot traffic.