Insurance for Electronic Stores
Electronics store owners keep their shelves stocked with the latest technologies. Yet they still face every day exposures that can result in devastating losses due to fire or theft or liability claims due to slip and falls. Choose our "A++" rated carrier for coverage to fit the needs of your electronics store.
Target Risks: (Not limited to those below)
- Risks with sales up to $3,000,000
- Up to 25,000 square feet per location
Ineligible for Online Quoting:
Please note we cannot offer coverage to the following:
- Located in AK, LA or W V
- Armed security guards or weapons on the premises
- Products sold under the applicant’s name or label
- Direct importing of products or product assembly
- Used products sold
- Sale, service, maintenance or repair of security systems
Coverages Available For Electronic Stores
- General liability up to $1,000,000 occurrence/$2,000,000 aggregate (includes options for waiver of subrogation and primary/noncontributory wording)
- Property values up to: (excluding wind and hail coverage)
- $3,000,000 in most states
- $1,000,000 in protection classes 9-10
- $1,000,000 in coastal zones
Optional Coverage for Electronic Stores
- Excess general liability or umbrella up to $5,000,000
- Hired and non-owned auto liability up to $1,000,000 in most states
- Ability to offer coverage for electronic data and interruption of computer operations
Claim Example for Electronic Stores
Property: A delivery truck backed into the wall of the electronics store and caused both $17,000 in building damage and $23,000 in business personal property damage. In order to repair the damage, the store had to shut down for two months, causing a $20,000 loss in income and $12,000 extra expenses to get the store up and running again. This was included in the business income with extra expense coverage.
General Liability: A customer of the appliance store went to use the restroom. The tile floor area just outside of the restroom was still wet; the customer slipped and fell, breaking their arm. A $5,000 medical expense was immediately paid to compensate the customer for their hospital visit and the ambulance ride. The owner of a cell phone store put an ad in the newspaper stating that their competitor down the street was selling imitation cell phones and not the top brand phones. They were sued for personal and advertising injury.
Hired & Non-owned Auto Liability: An employee was asked to make a special trip to the bank since the owner was busy. In an effort to reach the bank before it closed, the employee hit a pedestrian while pulling into the parking lot. The employee's personal auto limits were not enough to cover the injuries. The electronic store was brought into the claim.
Equipment Breakdown: The piping within the hot water heater ruptured from over usage, causing the television store to have to shut down for 4 hours. An equipment breakdown claim was made.