The holiday season isn’t all sleigh-bells and sugar plums for retail shop owners. Sure, you will probably experience increased profits, but as the weather gets colder and the holidays draw nearer, the risk of liability insurance claims skyrockets for both in-store and online retail business owners.
For example, a customer walks into your store, slips, and falls on a puddle of melted snow —the next thing you know, you’re served with a lawsuit for bodily injury. Or say a client claims an essential oil diffuser you sold to them was defective and started a small fire, resulting in minor property damage.
Liability insurance may cover the costs associated with lawsuits such as these and is a critical component of any retail business owner’s risk management strategy.