Floor Covering Store Insurance

Operating a flooring showroom or floor carpet business involves inherent risks that could severely impact your company’s finances. Situations like customer slips and falls, employee injuries, water damage to inventory, or completed operations claims after a job could open the door to expensive lawsuits, property losses, or medical costs.

That’s why having proper insurance tailored to flooring retailers is so crucial.

This article explores the major store insurance policies floor shops need to consider and how they protect against unexpected losses that threaten livelihoods.

Equally important is the role of a licensed insurance agency that is committed to protecting you and your business with the best coverage options.

General liability insurance covers legal defense costs and settlements if your flooring business is sued and deemed responsible for third-party bodily injury, property damage, personal injury, or advertising offenses. 

Key risks it protects against:

• Customer slips and falls in your showroom due to a flooring defect, slippery flooring, or unsafe condition
• Bodily injury or damage caused by flooring materials sold 
• Employee negligence resulting in damage to a client’s property during an installation
• Copyright infringement or misprints in advertising materials
• Hardwood floor buffer causes damage to baseboards and walls

Even with strict safety protocols, accidents and oversights happen.

General liability coverage gives you financial peace of mind if faced with a sizable lawsuit. Most experts recommend at least $1 million in liability limits.

If the flooring materials you supply and install cause injury or property damage down the line due to a flaw or defect, you could face substantial legal and settlement expenses.

Product liability insurance protects your interests in these situations.

It covers financial harm resulting from bodily injury or property damage caused by an issue with products you sell – even if the claim arises years later.

Required for retailers and installers alike.

Floor covering shops rely on vehicles to pick up customer orders and materials and travel to installation job sites.

Commercial auto insurance protects your business if one of your drivers causes an accident. 

It covers third-party injury/damage claims and damage to your own vehicles. It is an essential safeguard if cars or trucks are used for business needs.

Without proper auto insurance, you risk paying for damages or injuries out-of-pocket after an at-fault accident.

Commercial auto coverage protects your business vehicles and drivers by covering:

• Liability claims against your business if an employee causes an accident
• Damage to your fleet of vehicles after collisions
• Medical payments for drivers injured while working  
• Rental vehicles, if yours are in the repair shop

Properly covering your truck, van, and any trailers is crucial.

Consult with an insurance pro like The Allen Thomas Group to customize the best business auto policy.

Virtually all states require flooring shops to carry workers compensation, which covers lost income and medical care for employees injured on the job, regardless of fault.

This protects your finances from being depleted by workplace injuries like strains, falls, cuts, and sprains from lifting heavy flooring rolls.

The right coverage pays for lost wages, medical bills, rehabilitation, and long-term care for employees injured on the job.

As a flooring shop, you rely on expensive tools like dustless sanders, table saws, nail guns, laser levels, and laminate cutters to deliver professional results efficiently. Having proper insurance to repair or replace these assets following losses is essential.

Options for covering contractor equipment include:

• Inland marine policy – Broad coverage for tools and equipment with a blanket limit.
• Scheduled policy – Covers specific high-value items like sanders and saws with selected limits per item.

Discuss the right approach with your insurance advisor based on your tools, materials, and exposures.