Why do Convenience Stores need insurance?

Last minute groceries, afternoon snacks, and bottles of ‘don’t forget the’ milk is what provides your bread and butter. That’s why it makes sense to protect it from unpredictable risks by having the right insurance in place. Let BizCover take care of your business insurance needs by providing multiple competitive quotes, quicker than the time it takes to pour a Slurpee.

Did you know?

With convenience stores often having large glass shop front windows, glass cover is an important form of insurance and is also often required as part of a commercial lease agreement.

Insurance for Convenience Stores

Public Liability Insurance*

Public Liability insurance is an important form of insurance to consider before opening the doors to your convenience store. It is designed to provide protection for you and your business in the event that a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

Imagine the legal and financial consequences if a customer slipped on a spilt drink, tripped over boxes of stock or was injured by a falling display. These types of claims can run into hundreds of thousands of dollars and can potentially take years to settle. Fortunately, Public Liability insurance can provide you and your business peace of mind when you need it most.

Do you need Public Liability insurance? The short answer is probably yes. Chances are you’ll have regular contact with clients, contractors and the general public. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

Business Insurance*

You rely on your business assets to drive business through your store, so trying functioning without them could spell trouble. Not having the right types of cover means you could be left paying a small fortune if unplanned challenges crop up.
Protect your business needs with tailored Business Insurance options that can provide cover for:

Contents and Stock* – you rely on your fixtures, fittings and stock to keep your convenience store operational so it’s important to protect it against unexpected events like fire, storm, accidental damage and vandalism.

Money* – handling large amounts of cash daily makes Money cover a vital form of insurance to consider, particularly considering data from the Australian Institute of Criminology shows that one in ten armed robberies were of service stations and convenience stores. Money cover provides protection for money belonging to your convenience store if it is stolen, lost or damaged while on your store’s premises, in transit or in your personal custody.

Theft*– covers your business for loss or damage to your contents and stock through theft or attempted theft after violent or forced entry at your convenience store.

Business Interruption* – convenience stores don’t have time for downtime. Would your business survive if you had to shut up shop for weeks or months due to an interruption caused by an insured event? Business Interruption covers for loss of turnover caused by damage at your own premises and can assist with the payment of ongoing operating expenses and related business relocation costs.

Employee Dishonesty* – protects your business from loss of money, contents or stock incurred by theft, fraud or dishonest acts by an employee.

Machinery Breakdown* – designed to help cover the cost of repairing or replacing your store’s insured machinery, such as your refrigerators and air conditioners, following a breakdown. Consider the optional cover for Deterioration of Stock which provides protection for loss of perishable stock if your fridge/s is inoperable due to breakdown.

Building* – if you own your business premises then Building cover is a no-brainer. It will cover the cost of repairing or rebuilding your business premises as a result of fire, storm or other perils outlined in the policy.

Glass*– covers the cost of replacing internal or external glass including mirrors and shopfront windows that may be accidentally or maliciously damaged or broken.

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*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy document. The information contained on this webpage is general only and should not be relied upon as advice.