Insurance for Mainstreet Mercantile

Coverages Available For Mainstreet Mercantile

• Property values up to: (excluding wind and hail coverage)
  • $3,000,000 in protection classes 1-8
  • $1,000,000 in protection classes 9-10
  • $1,000,000 in coastal zones
• General liability up to $1,000,000 occurrence/$2,000,000 aggregate

Optional Coverage For Mainstreet Mercantile

• Excess general liability or umbrella up to $5,000,000
• Hired and non-owned auto liability limit up to $1,000,000

Claim Example for Mainstreet Mercantile

Property: A fire began at the insured’s premises when an employee of the store smoked a cigarette in the inventory room. The employee carelessly threw the cigarette into a trashcan.The fire caused both $45,000 in building damage and $14,000 in business personal property damage. In order to repair the damage, the store had to shut down for a month, causing an $18,000 loss in income and $12,000 extra expenses to get the store up and running again, which was included in the business income with extra expense coverage.

General Liability: A customer of the store went to use the restroom, which had recently been cleaned by an employee. As 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.

Automatic Businessowners coverages: The store installed a bright neon sign above the front door in order to attract new business. During a heavy windstorm in the middle of January, the sign fell to the ground smashing into pieces. After a holiday party, a local citizen crashed through the front glass storefront window and plowed through the entire store. The store carried a business personal property limit of $100,000. This was sufficient most of the year, but their sales fluctuate in December, and at the beginning of the summer. In order to keep inventory to levels that are adequate for this fluctuation, the business personal property peak season bumps the business personal property up 25% to $125,000 during these busy times of the year.

Value Plus: An employee of the store was going through tough financial times. They ‘forgot’ to turn on the alarm system when closing for the night. No signs of break-in were evident, but the store owner noticed inventory levels were repeatedly lower when this employee closed the store for the night. Cash in the register was also mysteriously low on these same nights. The insured notified their agent, and also made an employee dishonesty claim, and a money and securities claim.

Equipment Breakdown: The piping within the hot water heater ruptured from over usage, causing the store to have to shut down for 4 hours. An equipment breakdown claim was made.