If you own a retail cart or kiosk, you need the same basic insurance coverage you would if you had a store--you just need less of it, says Robert Muir, vice president of risk management services with Wolf & Cohen Inc., a full-line insurance agency in Vienna, Virginia. "With carts, you're not normally responsible for the common area [of a mall or shopping center]," Muir explains, "but you still need a general liability policy." That would protect you if, for example, something fell off your display and struck someone or if you caused a spill that resulted in a slip-and-fall accident.
Most malls require cart and kiosk operators to carry general liability coverage in the amount of $1 million per occurrence and $2 million general aggregate; Muir says that's adequate for most types of cart businesses. Expect to pay $250 to $350 per year for this type of coverage.
Not all insurance companies offer coverage for carts and kiosks, so you may have to shop around. Muir advises starting with the company you've purchased other policies from. You can also head to the Internet Insurance Directory at http://www.insdir.com
Jacquelyn Lynn is a business writer in Winter Park, Florida.
Wolf & Cohen Inc., (703) 556-7800, ext. 131, firstname.lastname@example.org