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Pet Store Insurance

Pet store insurance is specific business insurance that covers a variety of risks associated with operating a pet store. This type of insurance typically covers risks such as property damage, general liability, animal injury, employee injury, and business interruption. It may also provide coverage for legal fees associated with defending against lawsuits related to the business.

Who Needs Pet Store Insurance? 

Pet store owners should consider purchasing pet store insurance. This insurance covers physical property, inventory, and potential liability risks associated with owning and operating a pet store. It can also provide coverage for veterinary care and supplies, as well as protection in the event of a lawsuit or claim. Pet store owners should review their insurance needs with an insurance agent to ensure they have the necessary coverage.

Types of Pet Store Insurance 

1. Business Owners Policy: A business owners policy (BOP) is a type of insurance package designed to provide comprehensive coverage for businesses. It typically combines property, liability, and business interruption insurance, and may also include additional coverage for cyber liability, crime, workers compensation, and equipment breakdown. 

2. Commercial Property Insurance: Commercial property insurance provides coverage for the physical damage or destruction of a business’s property, such as buildings, inventory, and equipment. 

3. Product Liability Insurance: Product liability insurance provides coverage in the event that a customer is injured or experiences property damage due to a product sold by the pet store. 

4. Professional Liability Insurance: Professional liability insurance provides coverage for mistakes that occur due to professional negligence. This may include errors or omissions in the pet store’s services, such as pet grooming. 

5. Workers Compensation Insurance: Workers compensation insurance provides coverage for employees in the event of an injury or illness related to their job duties.

How Much Does Pet Store Insurance Cost? 

The cost of pet store insurance can vary greatly depending on the type of coverage needed and the size of the business. Generally, pet store owners can expect to pay between $500 and $2,500 per year for basic liability coverage. This can be supplemented with additional coverage such as property damage, business interruption, and product liability if needed. Costs may vary depending on the location, size, and type of business.

Pet Store Insurance Requirements 

The insurance requirements for pet stores vary depending on the state or locality the store is located in. Generally, pet stores are required to carry a minimum amount of liability insurance that covers any damage or harm caused by the pets they sell. This insurance should also cover any costs associated with third-party property damage or injury caused by the pets. Additionally, many states require pet stores to have coverage for veterinary costs associated with any illness or injury of the pets they sell. Finally, some states may also require pet stores to carry workers’ compensation insurance for their employees.

Commercial Insurance And Business Industry Classification

  • SIC CODE:  5999: Miscellaneous Retail Stores, Not Elsewhere Classified
  • NAICS CODE:  453910 Pet and Pet Supplies Stores
  • Suggested Workers Compensation Code(s):  8017 Store – Retail NOC

Pet Store Insurance – The Bottom Line 

Pet store insurance is an important form of protection for a business that sells pets. It can protect against a variety of risks, such as those associated with animal welfare and customer liability. Pet store owners should research their options and choose the right policy to ensure they are adequately protected. With the right coverage, pet store owners can rest assured their business is secure and their customers are safe.

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