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If you own a gas station in Florida, you need a specialty insurance policy to protect your business against frivolous liability claims filed by your customers. Since 1987, we have insured gas station that has additional income derived from:
- Gas Station with Mini Mart.
- Gas Station with Auto Repair.
- Gas Station with Car Wash.
All these additional exposures need to be addressed and adequately be covered for any exposures you might experience on your premises.
What does Gas Station insurance policy cover?
- Building: In most cases, you need this property insurance, which covers structural damages to your building.
- Canopy: This type of property coverage insures the canopy that goes over the gas pumps against any accidental damages or natural disaster.
- Gas Pumps: these standing gas pumps are susceptible to get damaged accidentally by any customer car filing gas on your premises or natural disaster such as Wind & Hurricane.
- Contents: The policy provides coverage for damage to your business owned property inside your convenient store, including inventory, shelving, cash registers, and computers.
- Equipment and Machinery: The policy covers repair and replacement if your machinery such as refrigerators, air conditioning used in your business become damaged due to an electrical circuit shortage, water damage or other natural disaster.
- Crime: Gas Station and convenient stores are often targeted by criminals for robberies due to cash circulation on premises. Insurance company recommends that business owner take certain measures such as installing security cameras and using other crime deterrents such as installing a central alarm system. Doing so can decrease your crime insurance policy rates.
- Garage Keeper Legal Liability: If you repair customers vehicles on your premises, you need to protect these autos while they are in your care, custody, and control. You have the option to structure the policy limit based on a number of vehicles you keep overnight and the the total value of these vehicles.
Liability coverage to consider for Gas Station:
Gas Station Liability lawsuits can destroy your business financially if you ever get sued. It is crucial that you include an adequate liability insurance policy coverage such as:
- Premises Liability: the policy provides coverage for bodily injury or property damage suffered by a customer standing at the gas pumps or standing inside your convenient store or waiting on your premises washing their cars.
- Pollution Liability: This type of insurance is necessary to have when operating a gas station, because it provides coverage if an accident involving your gasoline pumps pollutes the ground, water or air. Coverage includes restitution for property damage or illness caused by pollutant, as well as the cost of pollution cleanup efforts.
- Liquor Liability: Florida has its own laws pertaining to liquor liability, in most cases, businesses that sell alcoholic beverages are held to a higher standard of liability exposure than any other retailers when it comes to selling liquor to intoxicated or underage customers.
- Workers’ compensation: if you have over 4 employees on your payroll, then you need to obtain a workers compensation insurance policy. This type of policy is highly important to owners of a gas station. It provides medical payment and loss of income in the event your employees get injured on the job.
- Business Income: This insurance policy provides a continuation of income to cover your overhead expenses if a covered perils forces you to close your business for an extended period of time while repairs are made.
- Employee Dishonesty: This insurance protects your business from financial losses in the event one of your employee steal from your business.
- Commercial Flood: It is crucial in Florida for commercial property owners to obtain a flood insurance policy, to protect your property from major damages caused by flood caused by heavy rain, regardless if your property located in a flood zone area or not.
- Gas Station Hurricane: this type of coverage is essential in Florida to protect your property against natural disaster such as hurricane or wind. Damages from a hurricane can be financially severe.
5 ways to save money on your Gas Station insurance policy?
- Install a theft and fire alarm system.
- Hire experienced and licensed mechanics for your auto shop.
- Keep your premises clean, to prevent slip and fall incident.
- Have a continuous insurance policy with no lapse of coverage.
- Install a surveillance camera inside and outside the store, it helps minimize any false claims against your business.
What to do to get a Gas Station insurance comparison quote?
Purchasing Gas station in Florida can be a complicated process, particularly if you want to be certain that you are getting adequate coverage against all exposures. IF you are shopping for the best coverage and rates, feel free to contact G. Zein Insurance Services at (954) 454-9599 or (866) 454-9555. We are here to help serve your business.