Business Insurance for Retail Businesses

Protection to keep your business running smoothly.

Protecting Your Investment
You’ve worked hard to create a successful retail business. From writing the business plan, to selecting the merchandise and location, you have labored over every detail to ensure the success of your business. Wouldn’t it be comforting to know that your insurance company has been as thorough in designing coverage to protect your assets? If your personal identity were stolen, could a poor personal credit report negatively affect your business? Could you afford to take the time away from your business to reinstate your identity? If a storm were to cause damage to an important supplier’s distribution center, would your insurance cover lost sales due to unavailable inventory?

Benefit Resourcing is focused on protecting your business. By offering you coverages that may not be available in many other policies, their small business insurance is designed with businesses like yours in mind.

Planned For Your Needs
Benefit Resourcing’s small business insurance package, called Spectrum®, has core business coverage that is top of the line. They have also bundled important protection into optional packages like their Super Stretch for Business Services, which was created for businesses like yours. It provides over three dozen coverages at a savings as compared to the price you would pay to buy them individually – including a blanket limit of $350,000 for six key coverages.

Here are a few examples of the protection this stretch endorsement offers:

• Accounts Receivable
Protects you from the inability to collect outstanding balances as a result of lost or damaged records from a covered cause of loss.

• Business Income Extension – Off-Premises Utility Services
Protects against loss of business income or extra expense at your business caused by interruption of water, communication or power supply services to your location as a result of a covered loss to the supplier’s property.

• Computers and Media
Provides coverage for your computers, peripheral devices and media. Coverage is also provided for the costs to research, replace or repair lost or damaged data and software as a result of covered damage to computer equipment, certain power failures, or a computer virus.

• Dependent Property
Protects your business from losses caused by a covered loss at a dependent property.

• Employee Dishonesty
Covers your business for loss of money or your property resulting from dishonest acts committed by your employees.

• Transit – Property in the Care of Carriers for Hire
Provides coverage for loss or damage to your property or your client’s property while shipped by a common carrier.

In addition you have the option to buy this coverage:

• Internet and Computer Related Coverages*
Safeguards your business against loss of income or extra expense due to: 1) Web site and Internet service interruption; 2) denial of service attack, designed to overload your computer and deny access to legitimate business traffic; 3) Web site vandalism; and 4) good faith advertising in the event of a covered loss.

Spectrum Core Coverage
When your business is protected by Spectrum, you’ll be covered for a wide range of property and liability risks specific to your business. Here are some examples:

• Identity Recovery Coverage
Benefit Resourcing provides identity recovery coverage for business owners, including services such as:

– Identity Recovery Help Line
Provides identity theft support for policyholders who suspect they are identity theft victims.

– Identity Recovery Case Managers
Provide assistance in speeding the recovery process.

– Expense Reimbursement
Provides expense reimbursement up to $15,000 for covered expenses arising out of a defined identity theft event.

• Building and Business Personal Property

Your Spectrum policy contains coverage to repair or replace your building and any equipment, stock, furniture, or fixtures that you own. There’s a lot of business property coverage included in Spectrum, such as:

– Equipment Breakdown
Covers the cost to repair or replace equipment, such as computers, air conditioners, phone systems and steam boilers, from loss or damage caused by mechanical breakdown or artificially generated electrical current.

– Peak Season
Provides an automatic increase to your insurance limit of up to 25 percent for business content to cover seasonal variations in your inventory of supplies.

• Business Liability
Your Spectrum policy from Benefit Resourcing provides your business with legal liability protection against claims of injury or damage caused to others by you or your employees. For example:

– Employment Practices Liability
Covers claims, including legal defense costs, for certain employment-related lawsuits brought against you by your employees or job applicants. A basic limit of insurance is automatically provided, with higher limits available for an additional premium.

– Premises and Operations Liability
Provides coverage for bodily injury and property damage sustained by others at your premises or as a result of your business’s operations.

– Products and Completed Operations
Covers you against injuries or damages to others caused by the products you sell or by the work you perform for your customers.

Other Important Coverages from

Benefit Resourcing

• Commercial Auto Coverage
The policy protects you against financial loss resulting from accidents involving the vehicles you use in your business. Benefit Resourcing offers valuable enhancements, such as excess coverage for hired autos, and the extension of liability coverage to vehicles leased in the name of an employee on your behalf and at your direction.

• Umbrella Coverage
Provides up to $10 million of additional liability protection.

• Workers' Compensation
Benefit Resourcing’s state-of-the-art managed care and Return-to-Work program will help you get your employees back on the job as soon as possible.

That’s Not All
To all of this, they’ve added the convenience of flexible premium payment plans, an electronic funds transfer plan, and 24-hour, toll-free claims reporting.

All business insurance is not the same. Benefit Resourcing acts on emerging insurance needs and provides convenient, cost-effective and quality coverage for your business.

Visit www.benefitresourcing.net for more tips on how to protect your business. This is just one more example of the value you receive from purchasing insurance through Benefit Resourcing. For more information, call Michael George C.I.C. of Benefit Resourcing at 1-317-328-4518.

Reprinted from SQE Professional, March 2008