Some of our staff is working remotely from their homes. We are committed to continuing to provide the service you have come to expect, and will still be answering phone calls and responding to emails in a timely manner.
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
JMG Insurance Corp Logo

JMG

Personal, Business & Specialty Insurance Brokerage

Our Locations 1-844-304-7332
  • Personal
    • Auto Insurance
    • ATV Insurance
    • Boat & Yacht Insurance
    • Motorcycle Insurance
    • RV Insurance
    • Snowmobile Insurance
    • Flood Insurance
    • Homeowners Insurance
    • Rental Property Insurance
    • Renters Insurance
    • Umbrella Insurance
  • Business
    • Business Owners Policy
    • Auto Insurance
    • Flood Insurance
    • Errors & Omissions Insurance
    • General Liability Insurance
    • Workers Compensation Insurance
  • Life And Health
    • Client Services
    • Compliance
    • Employer Benefits
    • Individual Life and Health
    • Medicare
    • Student Accident & Specialty Coverage
    • Travel Insurance
  • Specialty
    • Car Wash Insurance
    • Commercial Marine Insurance
    • Condominium Insurance
    • Construction Insurance
    • Contractors Insurance
    • Cyber Liability Insurance
    • Franchise Insurance
    • Garage Insurance
    • Habitational Insurance
    • Homebuilders Insurance
    • Limo Insurance
    • Non-Profit Organizations
    • Pool & Spa Contractors Insurance
    • Public Transportation Insurance
    • Rage Room Insurance
    • Restaurant Insurance
    • Retail Insurance
    • School Accident Insurance
    • Special Event Insurance
    • Sports Insurance
    • Woodworkers Insurance
  • Surety
  • Certificates
    • CSR 24 Login
    • High Volume Certificate User
    • Indemnity Agreements
  • Claims
    • First Notice of Claims
  • About
    • Blog
    • Contact
    • Our Companies
    • JMG and SAN Network Partnerships
      • AllKane Insurance
      • SAN Network Partnerships
      • Baio Insurance
      • Beacon Insurance
      • Burlington Insurance
      • Frazao Insurance
      • Lambert’s Insurance
      • Max Fitelson and Son
      • Premier Insurance
      • Rabbett Insurance Agency
      • Svendsen Insurance
      • Westport Insurance Center
    • Testimonials
  • Client Login
  • Make a Payment

Seasonal Insurance Needs for Retail Stores: Preparing for Peak Times

Request a Quote! An insurance quote does not impact your credit score.

Request a Quote

October 7, 2024 by JMG Insurance Corp

a clothing retails storeSales patterns tend to fluctuate throughout the year in the retail sector, and these changes are often predictable. For example, most retailers see a sales jump ahead of the holidays, while a surf shop might see a surge during summer. Retailers often look forward to these periods, but it is important to recognize that additional risk and potential liabilities come along with rises in foot traffic and inventory levels.

Understanding these risks and making sure your retail insurance coverage takes them into account during busy periods is a smart business move.

Understanding Seasonal Peaks in Retail Insurance

Different peak times are associated with different sets of risks. For example, during the holiday season, businesses might see more theft, customer injuries, and property damage as a result of the crowds in their stores.

Another common peak time, back-to-school shopping season, can see increased inventory-related losses and damages as a result of greater inventories of school supplies and clothes. Retailers must consider these peaks and the specific risks they pose to protect their assets, customers, and employees.

Without adequate coverage for the peak business season, businesses could struggle to fully replace any lost inventory and keep up with disruptions to their operations. It can also cause lasting damage to your store’s reputation and customer relationships, not to mention financial strain at what should be your business’s most profitable time.

Assessing Current Retail Insurance Coverage

All retailers should proactively prepare for peak times, beginning with a thorough assessment of their current insurance policies. Take a look at your existing coverage to find any gaps that may leave you vulnerable during busy periods. Be sure to consider factors such as liability coverage, cyber insurance, business interruption insurance, and property insurance. If additional coverage or adjustments are needed, make them as far in advance as possible.

Identifying Key Risks During Peak Times

Here is a closer look at some specific risks that increase during peak seasons for retailers.

  • broken glass display case littering supermarket aisle floorTheft: The influx of customers during your busy season can result in more instances of theft. Not only are you vulnerable to more theft by shoplifters, but dishonest employees may also seek to take advantage of the chaos at this time of year.
  • Property damage: When your business experiences higher foot traffic than usual, property damage is more likely to occur. Some of this may be accidental due to distracted shoppers, but intentional property damage is another concern.
  • Liability claims: As your transactions and customer interactions rise, so does your risk of liability claims. Whether it stems from customer injuries or disputes, it is important to be prepared for this heightened risk during busier periods.

It is important to keep in mind, however, that there are several incidents that retail businesses can experience at any time of year. Do not overlook these during the peak season. Equipment breakdown, extreme weather, cyber threats, and workers’ compensation should all be addressed with proper coverage throughout the year.

Adjusting Coverage for Seasonal Needs

How can you mitigate these seasonal risks? Here are some important steps to follow:

  1. Carry out a risk assessment. Take a look at previous peak seasons to identify some recurring issues and areas of vulnerability.
  2. Update your insurance policies. Talk to your insurance provider about temporary policy adjustments that reflect the higher inventory and foot traffic during key times throughout the year.
  3. Consider obtaining additional coverage. You may choose to add policies designed to address specific risks that are present during the peak season, such as coverage for employee dishonesty, to ensure maximum protection.

The Role of Business Interruption Insurance

interior of modern shopping mallBusiness interruption insurance is a valuable lifeline for retailers in cases where unexpected events force them to close during their peak season. Losing income during what is typically your best time of year can be financially devastating, and this type of policy’s lost income coverage can be enough to help you stay afloat, even if misfortune strikes at the worst possible time.

It can also help cover your operating expenses, such as your utility bills and rent, during this time when revenue is not rolling in.

Protect Your Retail Business with John M. Glover Insurance Agency

Do your insurance needs change with the seasons? Peak shopping periods can be a significant source of stress, but you can gain considerable peace of mind with proper insurance coverage. John M. Glover Insurance Agency specializes in commercial and retail insurance solutions, and we can customize policies to suit your business’s unique needs.

Reach out today for a review of your current policy, and we’ll offer advice on adjustments that can ensure full protection during your busiest times of the year.

Primary Sidebar

Get Started!

  • *If your state is not shown, then JMG may not have a market for this state.
  • This field is for validation purposes and should be left unchanged.

Footer

JMG Insurance Corp Logo

JMG Insurance Corp has been serving the insurance needs of our clients in Connecticut, New York, New Jersey, Massachusetts, Rhode Island and Hawaii since 1916.

  • About Us
  • Blog
  • Careers
  • Contact Us
  • Our Locations
JMG Insurance Corp 29 Haviland Street Norwalk, Connecticut 06854 1-844-304-7332 1-203-857-7848
Google Rating
4.8
John M. Glover Insurance Agency
John M. Glover Insurance Agency
4.8
Tammy Weiner
Tammy Weiner
14:53 09 Aug 23
Amazing personalize service. They were able to consolidate all of my insurance needs and save me a lot of money, while also upgrading my coverage and making sure all of my needs were met even in potential unforeseen circumstances. Would highly recommend, and I have not been so pleased with an insurance agency in many many years.
Dani
Dani
14:24 06 Aug 23
I have held multiple insurance policies through the John Glover agency, for as long as I can remember. The company is wonderful! All of the staff members are kind, personable, compassionate, and speedily efficient! I highly recommend them!
Chris R.
Chris R.
11:34 25 May 23
I have been a client (auto, home, and umbrella) for several years. The entire team at the agency is excellent. Francesca is always prompt in getting back to me, and the claims group is great. I also purchased a life insurance policy through them as well.
William Schrade
William Schrade
18:25 26 May 23
I'm so pleased with the service at JMG Agency. They shopped and saved me money on my policy even when I didn't request it. I needed insurance in another state where they are not licensed to sell but they went the extra mile and found an agency to rewrite my policy saving me almost 50%. I have complete trust in my agent Francesca and her assistant Crystal. I highly recommend this agency.Bill Schrade
Melanie Craig
Melanie Craig
11:13 08 Aug 23
Our agent
See All Reviews
powered by Google

© 2025 JMG Insurance Corp · Powered by 321 Web Marketing · Website Privacy Policy

Link to company Facebook page

Link to company Instagram page

Link to company LinkedIn page