Protect the unique needs of your business with specialized coverage.
Furrier and garment dealer insurance for your Michigan business.
As a furrier and garment dealer, you’re responsible for helping your clients find the right furs or garments for their tastes. As with any specialized industry, your business faces unique risks that you’ll need to anticipate and prepare for. That’s why it’s important to find a furrier and garment dealer insurance policy that fits the needs of your business.
Protect your business’s property.
Your business is literally your property. You wouldn’t be able to make a living without the furs, garments, and other textiles you work with. A commercial property insurance policy can help you protect all of those things. For instance, commercial property can help cover a loss in the event of a fire, which is possible since many textiles are flammable. Water can also damage the materials in your furs and garments, making commercial property insurance a necessary part of your furrier and garment dealer insurance policy.
There is a high risk of theft.
There’s a lot of money to be had in the furrier and garment dealer industry. Furs, silks, and designer brands are generally high value items, making them a target for thieves. Crime insurance is a good addition to your furrier and garment dealer insurance coverage as it may fill any gaps in the theft coverage of your commercial property insurance policy. Not only can it help cover your physical materials such as furs, garments, and other items, it may also protect your assets from fraud and forgery—both of which could be an issue, especially when dealing with designer brands.
Your furs and garments need coverage in transport.
If your goods are ever moving from one location to another outside of a third-party shipper, you’re likely going to want inland marine insurance as part of your furrier and garment dealer insurance coverage. For instance, let’s say you’re transporting your furs and garments from a warehouse location to your storefront, or perhaps you’re taking them to be displayed at a local fashion show. If any damage or theft occurs to those items while in transit and not located on your business property, your standard commercial property insurance policy might not cover that loss. Inland marine insurance can help make up that difference and plug any gaps in coverage while your furs and garments are in transit.
In some ways, your needs are like any other business.
There are a few basic coverages that any business should consider. As part of your furrier and garment dealer insurance plan, you should add general liability insurance which can protect your business from a wide range of basic risks. You could obtain business owners insurance, instead, as it combines commercial property insurance and business liability insurance into one convenient policy. If you’re doing any business online or on the computer, you’ll want to have cyber liability insurance. In the event of a hack or data breach, your business assets will be shielded from loss.
To learn more about how a comprehensive furrier and garment dealer insurance plan can protect you and your business, please contact us today.
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