When you run a pet store, you’ve got to be aware of the needs of your live animals, customers, and staff alike at all times. There are several risks that could affect any aspect of your business, and quite unexpectedly at that. That’s why it’s so important to be prepared with the right pet store insurance ahead of time.

Fortunately a Florida independent insurance agent can help your pet store get equipped with all the coverage it needs to maintain smooth operations. They’ll also get you set up with this protection long before you ever have to file a claim. But first, here’s a deep dive into this important coverage.

What Is Pet Store Insurance?

Pet store insurance is basically another form of Florida business insurance, and it’s designed to protect against the unique hazards that apply to pet stores. Coverage includes common business exposures like property damage, fire, and income losses due to extended closures, and then adds specific coverages needed by pet stores. A Florida independent insurance agent can help your pet store get set up with the right package for your needs.

What Does Pet Store Insurance Cover in Florida?

Because pet store insurance is not standard, your policy may vary from the coverages listed below. However, there are various common protections included in many pet store insurance policies in Florida. These are:

• Business income insurance: Protects your business against lost income and employee wages that would otherwise stem from extended closures due to a covered loss.
• Commercial general liability insurance: Protects your business from third-party lawsuits.
• Crime insurance: Protects your business against fraud, forgery, counterfeiting, and more damaging crimes.
• Commercial property insurance: Protects your business’s property like your store’s building and inventory (and even your live animals) from various threats, like fire, lightning, etc.
• Cyber liability insurance: Protects your business from various cyberattacks and data breaches.
• Workers’ comp: Protects your business from employee injury, illness, and death on the job.

A Florida independent insurance agent will help you assemble the best combination of coverages for your pet store.

What Doesn’t Pet Store Insurance Cover in Florida?

Pretty much every insurance policy comes with a set of specific exclusions. According to insurance expert Paul Martin, pet store insurance in Florida usually doesn’t cover:

• Dishonest acts by employees and management
• Nuclear and war damage
• Missing inventory
• Earthquake damage
• Flood damage

Since your pet store is located in Florida, a state prone to hurricanes and other wet disasters, you might want to consider adding a commercial flood insurance policy to your coverage. Business insurance does not protect against damage caused by natural floodwaters.

Pet Store Stats for the US

When buying coverage for your pet store, it’s helpful to know what exactly you need it for. Review these recent stats for pet store sales in the US below before calling up your Florida independent insurance agent to hunt for the right pet store policy.

Distribution of pet store revenue in the United States, by category

The vast majority of pet store revenue reportedly comes from pet food sales, at 40.3% total. Next highest are pet supplies, at 35.8%. The other category comes in at third-highest for total revenue (12.9%), followed lastly by pet services (6%) and live animals (5%).

Knowing the areas in which your pet store has the greatest risk of loss can aid you when shopping for the right coverage.

How Much Is Pet Store Insurance in Florida?

When calculating the cost of your pet store insurance, there are a few factors commonly analyzed by insurance companies. Martin said that these are the usual factors that go into your pet store insurance’s cost:

• The size of your pet store
• Your pet store’s annual revenue
• The size of your pet store’s staff
• The value of your pet store’s inventory, property, etc.
• Your pet store’s specific operations (and risk level)

Your Florida independent insurance agent can help provide exact pet store insurance quotes in your area. 

Do I Need Any Other Special Liability Coverage?

If your pet store includes a grooming department, your groomers need to be protected by a professional liability insurance policy. Without this coverage, your pet store would have to pay for professional errors, such as injuries to animals during grooming, out of its own pocket. A Florida independent insurance agent can help your pet store get equipped with the right type of professional liability insurance, if necessary.

Here’s How a Florida Independent Insurance Agent Can Help

Independent insurance agents are fully equipped to protect self-employed workers against commonly faced liabilities. Florida independent insurance agents shop multiple carriers to find providers who specialize in pet store insurance. 

They can deliver quotes from a number of different sources and help you walk through them all to find the best blend of coverage and cost.