Hardware Stores

What Does GL Code 13716 Cover?

ISO GL class code 13716 covers retail establishments primarily engaged in selling hardware, tools, and related supplies. This class encompasses businesses that offer a wide range of products for home improvement, maintenance, and repair, serving both individual consumers and professional contractors. It classifies operations involving sales, inventory management, and customer service within a hardware store setting.

Who Uses This Class Code?

This code applies to various retail entities such as independent hardware stores, chain hardware retailers, home improvement centers specializing in hardware, and building material suppliers with a significant hardware component. Businesses like Ace Hardware franchises, True Value stores, and local family-owned hardware shops fall under this classification.

Common GL Claims for This Class

Common GL claims for hardware stores include customer slip-and-fall incidents due to spills or obstructions, injuries from falling merchandise, and property damage caused by customers handling tools or equipment within the store. Product liability claims can also arise from defective products sold, leading to injury or property loss.

Coverage Tips for Code 13716

• Ensure your policy includes product liability coverage, as hardware stores sell numerous items that could cause injury or property damage if defective or misused.
• Review your property coverage limits regularly to account for fluctuating inventory values, especially during peak seasons or with high-value stock.
• Implement robust safety protocols for handling heavy or sharp merchandise to mitigate employee and customer injury claims, and ensure proper training.
• Verify that your general liability policy extends to cover any on-site services, such as key cutting or small equipment repair, to avoid potential coverage gaps.