Introduction
How often do you visit a gas station. Probably once a week. Gas stations are crucial for every driver whether you are commuting to work, you are a driver by profession or you are taking a family road trip. There are close to 12,000 gas stations in Canada and are used by thousands on daily basis. Gas station operations may seem straight forward but knowing what gas station insurance to buy may be tricky. If you are a convenience store, then you would need additional insurance and if the store is a licensed convenience store, then you need insurance for selling liquor as well. An experienced insurance professional can help you determine apt coverage.
Why do gas stations need insurance?
There can be several reasons why should buy gas station insurance.
- Thousands of people drive through the gas station pumping fuel which is highly flammable in nature. An accidental fire could not only destroy your own property but the vehicles of several of your customers. Accidents can happen and could result in huge losses.
- There could be a slip and fall on your premises which could open you to a liability claim.
- The underground tanks could malfunction, losing thousands of liters of fuel. The repairs cost could be huge along with costing additional environmental clean up charges which will eat into your profits.
- Theft and break in are a huge problem across Canada and an adequate insurance could safeguard you against such losses.
- A client may lose control of his vehicle and may drive into the gas station.
What types of business insurance do gas stations need?
Commercial General Liability– Protects your business from third party bodily injury or property damage claims. The product liability claims for manufacture, sell or distribution of products is also covered under the Commercial general liability coverage. The best example would be the slip and fall of a client visiting your gas station. The coverage will pay for the medical expenses of such a client.
Commercial Property Insurance- Protects the Commercial building and property on the premises. Property includes detached building, equipment, stock etc. Business Interruption coverage can also be added to Commercial General liability that pays for your operating costs if you cannot continue your day-to-day operations due to a loss.
Pollution coverage- This coverage protects you from any third-party claims or first party damages caused by sudden or gradual environmental contamination. Pollution coverage is designed to help you avoid paying thousands in environmental clean-up damages and the costly clean up expenses.
Crime Coverage- This coverage protects you from internal theft, credit card forgery or employee dishonesty. Best example would be employee defrauding the owners of recurring and continuous money theft.
Why Kase Insurance
A fire at Gas station or an Environmental clean-up could cost the business thousands of dollars and many businesses may not be able to come back from such a huge loss without the help of an adequate insurance coverage. Kase Insurance is associated with several insurance companies and can help you protect your Gas station and Licensed Convenience store by helping you choose the best insurance products at the most affordable rates.
Every business has different needs, and we can help you smoothly navigate through the tedious journey of choosing adequate insurance coverage.
How do I get gas station insurance?
Please contact us here