There are so many things you'll have to think about when you own a business. While running a retail store can be fun and profitable, it could also be challenging. Fortunately, your Kentucky business protection will have retail store insurance that's affordable.

A Kentucky independent insurance agent does the shopping for free so that you get the best deals. They compare your coverage with multiple markets, giving you options. Connect with a local expert for custom quotes in minutes. 

What Is Retail Store Insurance?

In Kentucky, retail store insurance will come with several policy options. Each one can be tailored to your individual needs. Check out some common coverage choices for retail stores below:

• General liability: Pays for bodily injury and property damage losses.
• Business property: Pays for replacement or repair of business property.
• Business inventory: Pays for replacement or repair of business inventory.
• Business equipment breakdown: Pays for replacement or repair of business equipment that breaks down.
• Commercial umbrella liability: Pays for additional liability losses that exceed your underlying policy limits.
• Workers' compensation: Pays for the medical expenses and lost wages of an employee who gets injured or becomes ill on the job.

Annual retail sales in the US in 2020, by store type (in billion US dollars)

When you're in the retail industry, it can bring a profitable outcome. Knowing what coverage you'll need to stay fully protected is essential to running a smooth operation.

What Does Retail Store Insurance Cover in Kentucky?

Kentucky has 351,260 small businesses in existence. Each retail store will have coverage specific to its needs and assets. Let's look at common retail store coverages:

• Coverage for claims of bodily injury or property damage
• Coverage for your business inventory such as products
• Coverage for business equipment that breaks down due to a covered loss
• Coverage for employees who get injured or become ill on the job
• Coverage for commercial vehicles used to operate the business
• Coverage for disgruntled employees that sue due to discrimination or harassment

Every policy will come standard with basic coverages for fire, natural disasters, theft, vandalism, and water damage. 

How Much Is Retail Store Insurance in Kentucky?

In Kentucky, $4,661,744,000 in commercial insurance claims were paid in 2019 alone. Your insurance costs will vary and be based on several risk factors. Take a look at the factors carriers consider when quoting:

• Loss history
• Replacement cost values
• Insurance score
• Experience level
• Type of retail store
• Location

How Much Theft Is Covered with Kentucky Retail Store Insurance?

Fortunately, most commercial insurance policies will come equipped with theft and vandalism coverage. The limits are preselected by you as the business owner and should be reviewed for accuracy.

Reported property crime rate in the US from 1990 to 2019

Your Kentucky retail store insurance will be impacted by the number of theft-related claims in your area. This makes having the right coverage and location key.

Will My Kentucky Location Impact My Rates?

Where your Kentucky retail store is located will impact your insurance costs. Carriers look at numerous factors when calculating your premiums. From local crime rates to flood zones, insurance companies will rate your policies based on how safe an area is. 

How an Independent Insurance Agent Can Help in Kentucky

Retail store insurance can be challenging to obtain if you're not sure where to start. With all the policies on the market, it's good to have a friend in the business. When shopping for coverage, consider using a licensed professional at no cost to you. 

A Kentucky independent insurance agent will review and compare your policies for free. They have a network of local carriers so that you have the best options on coverage and price. Connect with a trained expert on trustedchoice.com to start saving today.