3 top insurance coverages for your candy store business

The rewards of starting your own small business can be sweet — especially if you’re starting a candy business. From adults searching for the perfect gift to kids searching for the perfect bite, there’s no feeling quite like seeing someone’s face light up when they bite into one of your treats.

Running a candy business isn’t all sugar and smiles, unfortunately. There are a multitude of things that can go wrong and not everything is preventable.

Kitchen machinery can break down, ingredients can spoil and shoppers can have sticky fingers (not the good kind), leaving you without product to sell and a lot of disappointed customers.

That’s why it’s so important to protect your candy store business with the right insurance coverages, so you can bounce back after a production problem and put those smiles back in place.

Here are three of the top coverages you should have to protect your investment. 

Commercial property 

This is a foundational coverage for any business, but it’s especially important for candy stores, which often have production and food prep equipment, displays and product all in the same location. Commercial property coverage can protect your physical assets, from the building to your equipment to your inventory, and from common risks including fire, storms and theft.

You can pair your commercial property coverage with general liability insurance as part of a businessowners policy (BOP), which helps makes it easy to protect your business for less than the cost of purchasing those policies separately. Talk to your UFG agent for more on the advantages of a BOP. 

Equipment breakdown coverage

While some candy store businesses may only sell products made by others, many produce their own treats. That requires heavy duty kitchen equipment, from refrigerators and mixers to stoves and ovens—all of which can break down unexpectedly, leaving your customers feeling sour.

Equipment breakdown coverage can pay for the cost of repairing that equipment, along with the cost of repairing other property damaged by its malfunction (like a burnt wall caused by an overheating oven). It may even cover extra expenses incurred to keep your business in operation while the original is being repaired, helping you keep the doors open and your orders on track.

Contamination and spoilage coverage

Candy store businesses use a lot of expensive, perishable ingredients to produce products, and it only takes one power outage or accident to ruin them. Contamination and spoilage coverage is a great add-on to help ensure that compromised ingredients don’t bring your production to a screeching halt.

It can also help cover cleaning costs for refrigerators, freezers and other appliances that touch your ingredients, so the problem doesn’t happen again.

There are plenty of other coverages you should consider to fully protect your candy store business, but these three are a great place to start. Reach out to a UFG agent today to discuss how you can best protect your sweet dreams.