Business Insurance Products
Customers can purchase a variety of candies, chocolates, nuts, and occasionally novelty products (such as balloons) from candy and nut businesses. Many confectionery retailers will package and mail or deliver items to customers. As the majority of their products are ordered pre-packaged or in bulk from manufacturers, some make their own speciality items on-site, such as fudge, taffy, or other candies.
Did you know that the candy retail business generates nearly $35 billion in annual revenue, according to the National Confectioners Association? Not just that, but this figure is predicted to rise to roughly $38 by 2020.
With booming industry predictions and projected sales increases, it is a great time for you to be a part of the candy and confectionery industry. It is also a great time to review your candy confectionery store insurance policy to ensure that you as well as your business are adequately protected from losses caused by unforeseen damages or liabilities.
Candy confectionery store insurance protects your business from litigation for as little as $27 per month. Get a quick price and your certificate of insurance immediately.
A typical $1,000,000/$2,000,000 General Liability Insurance policy for small candy and confectionery stores costs between $27 and $49 monthly, depending on location, products sold, payroll, sales, and experience.
Candy shops are typically enjoyable and family-oriented establishments because the majority of their sweet products are attractive to children! Naturally, if you own a confectionery store with a physical location, you must have the basic kinds of commercial sugar confectionery store insurance in place to protect both you and your store in case of an occurrence that could result in a not-so-sweet financial loss.
General liability is a fundamental type of candy confectionery store insurance that protects your business in an array of areas. This Candy Confectionery Store Insurance category also includes Premises Liability, Products Liability, and Completed Operations insurance:
Premises Liability - This candy confectionery store insurance coverage covers your business if a grown-up or kid is injured on your premises. This insurance can pay for any medical expenses incurred as a result of the injury, such as ambulance bills, hospital stays, and any extra medical costs received by the injured party.
As the proprietor of a candy or confection store, you should expect children to be present. That boosts the likelihood of an injury occurring on your business property, thus premises liability is crucial! Even if the injury happens offsite or at a different location, your firm is usually protected by premises liability.
Products Liability - Unfortunately, consumer lawsuits against shops and corporations are on the rise in today's society. Because candies and confections are frequently targeted in the frenzy of food product litigation, having products liability insurance for your candy and confection store is crucial.
While your products may be of the best quality, there is no guarantee that you will have trouble with one of them down the line. Goods liability issues could include a consumer allergy for an undisclosed substance, the handling of your product, or a fresh health hazard involving an ingredient you employed in your product.
As a candy and confection store owner, you might face a variety of other potentially crippling hazards, therefore having product liability insurance is crucial. It is going to protect you from potential losses caused by medical expenses, as well as legal or litigation processes and/or settlements that you may be held liable if an unfortunate event such as this occurs.
Completed Operations - This candy confectionery store insurance coverage can also serve as an important component of your general liability policy. This feature protects you and your company if a consumer has a problem with one of your items in the future, such as if she or he claims to have suffered a health problem as a result of consuming your product. With completed functions coverage, you can rest easy knowing that you are protected for any medical and/or legal fees that may arise in the foreseeable future.