Convenience Store Insurance in Massachusetts

What is Convenience Store Insurance?

Running a convenience store involves a lot of investment, and the time and capital that’s poured into a store ought to be protected. Without sufficient insurance coverages in place, a single incident could lead to the loss of everything that’s been invested in a store. Convenience store insurance policies help protect convenience stores in Massachusetts from many risks that could otherwise lead to financial disaster.

Convenience store insurance is a particular form of commercial insurance that’s uniquely designed to meet the risks mitigation needs of convenience stores. Most policies are written as package policies, meaning that they offer multiple protections within them, and stores can often adjust their policy’s protections to suit their situation.

What Businesses in Massachusetts is a Convenience Store Policy Right For?

There are many Massachusetts businesses that might benefit from having a convenience store policy in place. The following are a few stores that might want this form of commercial insurance coverage include:

Convenience stores
Small general stores
Mom-and-pop stores
Corner stores
Bodegas
Newsstands

Any store owner who’s unsure whether this or another type of commercial insurance is most appropriate for their store should speak with a specialized insurance agent. An agent who’s familiar with these policies will likely know whether a convenience store or other insurance policy is most appropriate for a particular store.

What Coverages Are Included in Convenience Store Policies?

Since stores can frequently adjust the coverages in their convenience store policies, the coverages offered by these policies often vary. Nonetheless, there’s a range of property, liability and other insurance protections that many of these policies make available as standard or optional protections.

Some of the property coverages that a policy might offer are:

Building Coverage, which might cover a store-owned building
Property Coverage, which might cover store-owned equipment, fixtures and inventory
Spoilage Coverage, which might protect perishable inventory against spoilage after an incident
Equipment Breakdown Coverage, which might protect essential equipment against unexpected breakdowns

Some of the liability coverages a policy might offer are:

General Liability Coverage, which may cover common accidents and defamation suits
Product Liability Coverage, which may cover product-caused injuries and damage
Cyber Liability Coverage, which may cover online risks and data breaches
Employment Practices Liability Coverage, which may cover employment-related suits
Umbrella Liability Coverage, which may provide extra liability protection
Liquor Liability Coverage, which may be necessary if a store sells alcohol
Pollution Liability Coverage, which may be necessary if a store sells fuel

In addition to these property and liability coverages, stores sometimes also get business interruption coverage and other protections. An insurance agent who’s familiar with the various coverage options can help store owners select the right coverages for their store.

Do Convenience Store Policies Offer Workers Compensation Coverage?

Although many convenience stores have employees and need workers compensation coverage, this protection is normally purchased separately through a stand-alone policy. Most agents who assist with convenience store policies can also help with workers compensation policies.

How Are Convenience Store Policies’ Premiums Determined?

Insurance companies look at many factors when setting premiums for these policies. Some items they might consider are where a store is located, how large a store is, what a store’s annual receipts are and whether a store has filed insurance claims in the past.

How Can Businesses in Massachusetts Get Convenience Store Insurance?

For help insuring a convenience store or similar business located in Massachusetts, contact the independent insurance agents at Roger Butler Insurance. Our agents have assisted many stores in the state with their convenience store insurance needs, and we’re here to help you. Because all of our agents are independent, you can trust them to recommend the best available policies regardless of what company offers them.