Kansas Retail Store Insurance (KS) – policies and cost

Retail store Liability Insurance in Kansas  – (KS), is a crucial type of insurance to have for any person who conducts business selling to the public from local shops.

If you’re a retailer, you should buy retail store liability insurance, and here’s why! 

What actions do retail stores do in Kansas? 

But first, a retailer should not to be confused with a shop. There are many workshops that include the word shop in their name, like auto body shop that are not selling products, but provide services to the public.

The latter usually has some sort of registered license, and so they need to buy their own liability insurance in KS. A cashier in Kansas is likely to be younger than the average for the state, and to earn less than the average for Kansas.

Retailers deal in public to sell merchandise to the general public for group consumption and so need Small Business insurance in Kansas to cover all possible risks.

General statistics

About 6% of the total labor force in Kansas was engaged in the retail sector in 2020. 

Interesting fact – workers in KS are ten time more likely to find jobs in general merchandise stores than in florists.

What are the regular forms of retail store insurance policy types in Kansas? 

General liability insurance.

The average general liability policy for retail stores in Kansas covers a total of $2 million for the whole year, with a cap of $1 million for a single submission.

Professional liability insurance

Most retailers in Kansas will see the need for a policy of at least $10000, and most choose considerably more when their own sort of business warrants it. In some cases, the insurance company in Kansas gives a discount to include a deductible of a few hundred dollars, to stop the nuisance of frivolous claims.

Product liability insurance

The recommended level of cover in KS, is calculated on the type of inventory that the store markets as well as the level of sales.

Commercial vehicle insurance

Immediately after goods leave your premises in Kansas, your standard insurance stops cover. If you are doing your own distribution with a van, then you must have specific policy giving you commercial vehicle insurance in Kansas for the vehicle, the driver and the contents.

Commercial insurance

Retail business depends on stock and a physical shop. This means tying-up your money into premises and goods, and you cannot afford to let this walk out the door. Commercial insurance in Kansas is especially designed to take into account the dangers that can end up costing you a lot of money.

Property insurance

Kansas carries special risks when it comes to buildings, and any business must take out the appropriate cover to protect property and contents. 

As well, the possibility of storms is increasing because of climate change, so every shop owner should take care to get all the insurance necessary to cover even the most remote possibility.

Business Income insurance

There has been a history of ups-and-downs in KS, that have hit retail businesses hard. It is advantageous to get proper insurance in place before such a calamity occurs, rather than to expect that you can never be hurt.

Average costs of these types of insurance in Kansas

Although every retailer is unique, there are enough examples of average quotes from insurance companies in Kansas for us to give rough guidelines. Of course, you should always check with a broker of what’s relevant for your business.

The below list is for annual premiums for the main types of insurance retailers need in Kansas.

Cost of insurance in Kansas depends on many different factors

Please take note that the above figures are based on averages for small retail businesses. The size and location of your business in Kansas can have a big impact on the cost, and also the type of trade and inventory will.

For Example – a liquor store on the high street has a much higher risk of vandalism than a babywear shop conducting Kansas retail sales that is located inside a large mall, so the costs of the insurance will be very different.

FAQ section:

Do you need business insurance in Kansas?

Almost all retailers in KS, will have to have at least some insurance, covering laws because they are dealing with the public, and also probably to qualify to be granted to register with a business license in Kansas . As well, insurance in Kansas is especially designed to take into account the risks that can end up costing you a lot of money.

What is considered a retail store and what is not?

Some businesses use the phrase “shop” in their definition, but don’t really act as retailers.

For example:

• auto repair shop
• repair shop
• coffee shop
• machine shop
• dram shop
• bike shop
• body shop
• tattoo shop
• mechanic shop
• auto body shop
• motorcycle repair shop
• coffee shop
• tire shop

A better wording would be if the business sells many of the following to the public:

• Sport, recreation, and leisure goods.
• General retail as in department stores and clothing retailers.
• Books, newspapers, magazines and office supplies.
• Specialty products for narrow sectors, like florists, jewellers.
• Home living and homeware, trade, and gardening goods.
• Apparel like babywear, kids, women’s and men’s clothing.
• Food and beverages as in supermarkets, liquor stores, fruit & vegetable grocers and specialty food stores
• Entertainment, communication, and technology goods.

Where to find the right insurance?

In every community in Kansas you will be able to find a qualified insurance agent or broker that can advise you on your best options. Most independent brokers and agents work six days a week, with the following opening times.

Opening Hours:
Monday – 8:00 AM – 6:00 PM
Thursday – 8:00 AM – 6:00 PM
Wednesday – 8:00 AM – 6:00 PM
Thursday – 8:00 AM – 6:00 PM
Friday – 8:00 AM – 6:00 PM
Saturday – 7:00 AM – 1:00 PM

Location:
Kansas, USA

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