Kelsey, the owner of a successful women's clothing boutique, decided to expand her product offerings by introducing a popular, high-end bag brand.
One busy day at the store, a customer approached Kelsey and requested to look at a few of the bag options. While Kelsey assisted the customer and took the bags out of the secured case, another customer accidentally knocked over a clothing rack. Concerned about the customers' well-being, Kelsey promptly rushed to assist and ensure they were ok. Unfortunately, during this commotion, the customer she was helping with the bags took off with two purses and three wallets.
Thankfully, after acquiring the new brand, Kelsey reviewed her Business Owners Policy with her insurance agent. As part of her policy, Kelsey's agent suggested coverage for inventory theft. This proved to be invaluable as it allowed Kelsey to replace the stolen products and continue offering the sought-after bag line to her valued customers. Without the protection provided by her insurance, Kelsey would have faced a significant financial loss due to the stolen items, potentially jeopardizing her business.
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For more information, contact the Victor Small Business team at info.smallbusiness@victorinsurance.com.
* The claims scenario is strictly documented for illustrative purposes only and provides an example of what a policy could cover. It is intended to provide a general overview of the program described. Please remember only the insurance policy can give actual terms, coverage, amounts, conditions and exclusions. Program availability and coverage are subject to individual underwriting criteria.
