What type of insurance would you get for a bicycle shop?

To purchase the right type of insurance for a bicycle shop, select a small business insurance policy that includes general liability, such as a business owner's policy. For added coverage, purchase commercial umbrella insurance that pays expenses when regular insurance reaches the maximum payout limit, according to USA Business Insurance.

Under general liability coverage, new products, services and locations are automatically covered as they are added, states USA Business Insurance. General liability includes premises liability, which pays for the medical bills that arise from accidental injuries, and also pays for repairs or replacement of damaged personal property. If a product is sold to a customer that causes physical harm or property damage, the products liability clause covers this expense. The completed operations part of general liability coverage pays for damages resulting from lawsuits, legal fees and related expenses.

Customizing a business owner's policy gives businesses the option of covering buildings and contents, electronic data, and business income and extra expenses. Adding coverage for employee dishonesty and newly acquired buildings provides a business with greater protection, reports USA Business Insurance. Buy additional property coverage for any outdoor property that might get damaged by a storm or a fire, such as fences, signs or bicycle racks.