Have you insured your new pawn shop?

We are living in a world which has a high level of unpredictability and it is better to insure all that is precious. When we speak of insurance it mostly applies to our health, vehicles owned, and our house and of course of your business if you run one. Sometimes we also take travel insurance especially if it’s a costly one but as I have already said, we live in the midst of insecurity and its better we take an insurance policy for all that can be insured.

In this front, insurance is provided to pawn shops which many pawn shop owners are not aware. During the present scenario, running a pawn shop has lot of inbuilt risks and threats from outside and it is always wiser that pawn broker goes for insurance coverage.

Threats include robbery, physical assault, damage to inventory and property owned, general liability, loss of costly items, damage to items or inventory during shipment, fire accidents and natural disasters. Pawn shop insurance coverage comes in different packages depending upon the requirements and liability of the pawn broker and he can choose the best insurance policy that offers maximum benefit to him and his workers. If you are a pawn broker, please contact An insurance Company of good reputation and service and explain to him about your need and the insurance agent will guide you in choosing the right insurance policy. To know more about pawn insurance companies, you may ask other pawn brokers in your area or surf the net to find one.

Insurance coverage highlights

The common insurance coverage highlights provided by most of the insurance company are listed below.

  • Coverage for theft and robbery
  • Coverage for all the properties belonging to the pawn shop either owned or rented
  • Coverage for fire attacks up to $1,000,000 depending upon the insurance taken
  • Coverage provided for hired and owned vehicles
  • Optional coverage for shipments
  • Some of the insurance companies offer EPLI and coverage for cyber crimes connected with pawn shops.

Before taking an insurance policy, read the disclaimer, terms and conditions properly as these policies have many hidden clauses which would come to your notice only after you take a policy.

Comments are closed.

  • Partner links