Pawn Broker Insurance
A Pawn Broker Insurance Policy is sometimes known as Pawn Shop Insurance Policy. This policy is designed to give optimal protection for pawn shop business owners. It provides coverage against potential losses arising from theft and break-in and robbery in your business unit during and after operational hours. This policy can be further enhanced to include General Liability and Property Insurance. Pawn Shop Insurance Policy usually allows for optional add on coverage based on your specific business needs.
A Pawn Shop Insurance Policy typically includes General Liability Insurance to cover your commercial liability and Business Property Insurance for physical assets, such as contents, that are leased, owned pledged or Held on Consignment. The package insurance policy may also cover loss of business income and extra expense resulting from a covered loss.
You can add these optional covers to enhance your overall protections;
- Pawn Shop Store Fixtures
- Outdoor Sign Insurance
- Window Glass Insurance
- Money and Securities Insurance
- Water damage Insurance
- Off Premises Property Coverage
- Merchandise in the Custody of Another Dealer in Trade
- Coverage for stock in transit
- Coverage for stock in premise
This policy does not cover errors or negligence from professional services. It does not provide coverage to items such as Workers’ Compensation, or Professional Liability Exposures. However, these coverages can be purchase separately or as add-ons to the policy.
Depending on the type of coverage and the amount, the requirements can vary. Here are some general requirements and considerations
- You should keep proper business records such as sales, purchase and other transaction
- Your business premise should be installed with proper alarm system
- Your business premise should be installed with proper CCTV system
- You should have proper SAFE or Vault setup
- Other requirements may apply
Our Pawn Shop Insurance Policy Coverage is very competitively priced. Every Business is different: The size of your operation, the amount of property your business possesses, and the location of your business are factors used in determining the cost of a Pawn Shop Insurance Policy. Please Contact Us to review the best type of Pawn Shop Insurance Policy is best for your business.
The information provided in this section meant as general information to help you better understand the product coverage. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions expressly stated in any contracts of insurance.