Most shop owners don't like to think too much about what might happen if things go wrong. It is better to be optimistic than pessimistic. However things can and do go awry, so it is necessary for owners of hardware shops to have the correct insurance policy in place.
Customers may slip or fall in an aisle that contains discarded stock. They may also purchase faulty products from you which are unsafe to use. A hardware store has a wide variety of items for sale and sometimes the very nature of the goods can be hazardous. Therefore companies like Lumber Insurance Services provide insurance for hardware stores.
Hardware stores require business insurance to protect owners from liability claims. Any unhappy customer could sue you if a seemingly innocuous incident happens on your premises. Theft and damage to your property should be insured too. If you are part of a franchise and have a legal contractual obligation to adhere to, then General Liability is probably also required.
General Liability for hardware shop insurance provides owners with the necessary protection. Personal property damage claims by customers, bodily injury, personal injury on or off your premises as well as false advertising are some of the areas that are covered. The insurance can also pay for medical expenses, solicitor's fees and damages if you were legally responsible.
Product Liability is another type of insurance that can be purchased. Just by selling a product you may be liable for its safety should something go wrong and a lawsuit is lodged against you. The amount of cover you choose should be related to the amount of products you sell.