Gift Shops--Other Than Not-For-Profit

What Does GL Code 13506 Cover?

ISO GL class code 13506 covers retail establishments primarily engaged in selling gifts, souvenirs, and novelty items, excluding those operating as not-for-profit entities. This code classifies businesses with operations focused on general merchandise sales to consumers, often in tourist areas or specialty retail environments. It encompasses the general liability exposures associated with customer foot traffic, product sales, and premises maintenance.

Who Uses This Class Code?

This code applies to various commercial gift shop operations, including independent gift boutiques, souvenir shops in tourist destinations, museum gift stores (if for-profit), and specialty retailers selling unique gifts and decorative items. Businesses such as airport gift shops, hotel gift shops, and novelty stores also fall under this classification.

Common GL Claims for This Class

Common claims for gift shops include customer slip-and-fall incidents due to wet floors or cluttered aisles, product liability claims from defective merchandise, and theft of inventory, particularly high-value or easily resalable items.

Coverage Tips for Code 13506

• Implement robust inventory management to track high-value items and minimize theft, which can impact insurance claims.
• Ensure your premises are well-maintained with clear aisles and non-slip flooring to prevent slip-and-fall claims from customers.
• Review your product liability coverage to ensure it adequately protects against claims arising from defective or unsafe products sold in your shop.
• For Florida businesses, be aware of hurricane preparedness and ensure your property insurance includes appropriate windstorm and flood coverage, as these are common risks in the state.