E-Cigarette Store Insurance and Risks
Like any business, there are risks associated with operating an e-cigarette store. Whether you sell the ecigs themselves, the e-juice (vaping liquid), or both, there are countless reasons that you can be sued. Let’s review some of the unique situations that apply to vapor stores.
Did you know that if you directly import products, such as the liquids, electronic cigarettes or other “vaping” related products that you can be held liable as the manufacturer?
If you have a policy now, do you know if products coverage is excluded? Did you disclose that you directly import products or repackage products in your own name? It is important to disclose all of the activities of your business when obtaining a quote, and once you have a policy, you need to tell your agent about the changes to your business operations.
E-cig store insurance policies may have special health exclusions.
In some cases health related claims are specifically excluded, which other policies may have specific exclusions, such as those related to certain ingredients. Other common exclusions can include lung disease and cancer. As only a limited number of carriers are writing policies for this industry, this is a tough-to-locate type of insurance.
Slip and fall risks are real.
Business owners sometimes laugh when they hear an insurance agent tell them that a client could sue you for bodily injuries as the result of a slip or fall. The risk is real and it is a common claim. If you run a retail store, the foot traffic causes increased risk of these types of claims. Keep your space in order, tidy, and clear from clutter. If you run a kiosk or cart, you can still be held responsible for a claim from a fall.
These are the types of situations that the Small Business Team at Stratum Insurance Agency LLC wants to review with you.