Back to School Business Insurance Needs

Going back to school is an exciting time for students, parents, and business owners.  When this time of year approaches, it is a good idea to reevaluate your commercial lines policies and make sure you have adequate coverage. for your business.  While it is always crucial as a business owner to have the right coverage for your business, this time of year can be particularly hectic. Dry cleaners may experience an influx of school uniforms and alterations.  Retail stores may see an increase in the number of customers as parents and kids come in to pick up supplies for the upcoming year.  Bus and van owners need to prepare for the new school year.  It’s essential that your business insurance is ready for the school year to start!

School Supplies Stores

business insuranceDepending on how your business’ inventory changes, you’ll want to be sure you have enough coverage in case something happens. Most policies will allow for a seasonal increase of at least 25%, but every policy is different. To be certain, check with your agent to make sure your business insurance is increasing with your inventory. You don’t want to be under-insured!

There could also be a large amount of children who visit your store during these pre-school months.  Often, children will accompany their parents to pick out the supplies they will need for the upcoming year.  Kids could literally be running around your store. Children in your store could be prone to accidents. They can be clumsy, and what if one of them was to get hurt?

Luckily, general liability insurance will help cover you if someone was injured on your premises. Talk to your agent about the coverage your general liability carries. There is always the option to add excess liability insurance if you feel you need more coverage.

 

Dry cleaners

Those  students who are heading back to school with their collection of business insurance dry cleanersuniforms may be tagging along with their mom or dad to your store. Whether it’s uniforms, new school clothes, or alterations, are you covered for the increased business in your store?

Dry cleaning businesses have a tricky insurance situation. You have inventory, but your “inventory” is essentially other peoples’ belongings. Considering this, one of the most important types of coverage you have is liability and products/completed. This coverage helps protect you if you were to accidentally destroy clothing at your store.

 

Vans & School Buses

business insurance school busIf you are driving a van or school bus, you will need school pupil transport VEH plates, also known as SBN plates. In the case of insurance for a school (or carpooling) van or bus, your license plates, registrations, and even your license requirements, go hand in hand with your insurance needs.

For example, if you are driving a school bus you will need a school bus driver certificate. Remember to get your licensed renewed each year. Specific requirements, tests, and etc. can be found on your state’s RMV website. You will want to be very sure you have the necessary training and certificates to operate that vehicle.

As an owner of the school bus or van, you will need to be sure to have the proper license plate. If you are a parent carpooling in your own vehicle, it’s best to speak to an agent. Depending on how many children and how often, you may want to add an endorsement to your current auto insurance policy. Carrying sufficient limits while transporting children is extremely important. The same goes for situations in which you volunteer to drive for a field trip or other event.

The right insurance coverage, from commercial lines auto insurance to general liability, is key to keeping your business or vehicle covered this back to school season.  Don’t hesitate to talk to your insurance agent about increasing your coverage or adjusting to accommodate the busy season!

Questions or concerns about your coverage? Give our commercial lines agents a call at 888.865.1244.

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