VAPE SHOP INSURANCE

Insurance Protection for Vape Shops

Vape shops are the eyes and ears of the vape industry.  The vape staff behind the counter provide a smoking cessation service with a higher efficacy than which has been provided by physicians at the direction of the FDA.  Unfortunately, consumers who are severed by the vape staff are quick not to follow warnings or instructions provided to them.  In many situations, consumers blame the vape shop for injuries they cause to themselves.  Vape shop insurance policy from CALCO is the best protection for your company.  The proper vape insurance policy will ensure that your business is covered in areas which you need coverage most.

Who’s liable if a person places a rechargeable battery in their pocket (even if they were told verbally not to) and it explodes or vents causing serious burn injuries?

It all depends on the following:  Was there a legible warning or a graphic on the battery which warned “Do not place battery in pocket or purse as contact with keys or other metal objects will cause the battery to short and explode causing serious injury”? 

If the answer is “NO” to the above, the Strict Liability Law will hold the vapor shop, the battery wholesaler, and the manufacturer liable. In cases where the manufacturer is located in China, it becomes difficult to sue them.  As a result, the manufacturers liability will fall on to the distributor. 

slip and fall

Slip & Fall

fire

Fire

theft

Theft

 

explosions

Explosions

 

health hazards

Health Hazards

 

workers comp insurance

Employee Injury

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What is General Liability Insurance for a Vape Shop?

Vape Shop insurance includes coverage for bodily injury and property damage for the following:

  • Slip and fall 

  • Product liability insurance: formal term is Products Completed Operations

  • Marketing liability.  The formal term is Personal and Advertising Injury

  • Medical Pay:  This single line of coverage is usually a small amount of $5,000. It’s used settle very claims without having to establish liability which can cost tens of thousands. Note:  if an amount higher than the Medical Pay coverage is required, the policy has a per Occurrence/Claim limit which is typically one million of more.

  • Fire Legal/Fire Damage:  this coverage is reserved for the damage you cause to the vape shop’s lessors/landlords property. The typical amount is $100,000.  However, if the amount is greater than the Fire Legal limit and the circumstances of a claim trigger tapping into the per Occurrence/Claim limit then that will occur.         

Business Property Coverage?

Your vapor shop insurance policy is split up into two section; Liability and Property.  Below is a breakdown of the core property coverages you need:

  • Business Personal Property:  your display cases, inventory, tables, chairs, couches and essentially anything else in your vape shop which is not permanently attached to the lessors property.

  • Business Income and Extra Expense:  provides replacement business income insurance while your vape shop is being repaired from a covered loss such as a fire.

  • Tenant Improvements:  the improvements are any modifications you made at your vape shop such as installing lighting or flooring.  As a rule, if something is permanently attached it’s considered a tenant improvement. 

  • Sign Coverage:  in most cases outdoor signs are not included and must be insured

Replacement Cost Coverage:

Most policies will insurer the vape shops inventory/business personal property at Replacement Cost Value (RCV).  What this means is when you have a theft or a fire claim the insurer will pay you the cost to replace your inventory (wholesale cost) but not the retail price you would have earned if you sold the products at the store.  This is important to understand so you can avoid over insuring the vape shop inventory.

How to Receive a Quote?

Start online by completing a vape shop insurance or e-cig shop insurance quote or call (877) 678-0201.  CALCO is the most experienced insurance broker in the vape industry.  We insurer in excess of one billion dollars of annual vape sales and are active in lobbying for the vape industry.  If you would like to learn more about the product we offer visit our calco vape insurance home page