Does a retail business need insurance?
In most cases, we talk with small business owners who have a shop in the center of town, selling products to local visitors and, sometimes, through an online shop as well. If you have a brick and mortar, hold inventory for your business, or rely on your income to survive, we highly recommend you fully insure your business venture.
The thing small business owners need to do is weigh the risks. Do you have enough capital to self-insure your retail business and still pay your bills if someone is injured on-site? What if there was a flood that ruined half of your inventory? Or if you had to shut down because a fire broke out and the walls needed to be fixed? Most small business retailers will answer no to these questions.