Insurance for retail stores

If you’re running a retail business, you need to make sure you choose the right types of retail business insurance so you’re fully protected.

Top retailers we insure

  • Amazon seller
  • Appliance store
  • Arts and crafts store
  • Bike shop
  • Bookstore
  • Bridal shop
  • Candle store
  • Candy store
  • Cell phone store
  • Clothing store
  • Computer and electronics store
  • Consignment and thrift store
  • Convenience store
  • Cosmetic sale
  • Crafters and artisan
  • Drug store (pharmacy)
  • E-commerce
  • Fabric store
  • Flower shops
  • Furniture store
  • Grocery store
  • Hardware store
  • Hobby shop
  • Jewelry store
  • Luggage store
  • Mattress store
  • Medical supplies store
  • Music store
  • Pet store
  • Toy store
  • And more

What insurance does a retail shop need?

Every retail store is going to be different. This means you need to understand the different types of insurance available to you so you can choose which ones will best protect your small business.>

As a retail store owner, you need insurance to protect you from risks like:

  • Customer injuries
  • Employee injuries
  • Property and merchandise damage
  • Reputation damage
  • Costs associated with someone filing a claim against your business

Liability insurance for retail stores

Do you run your small business from a physical location? Brick-and-mortar liability insurance is important when you have a physical storefront.

General liability insurance protects the retail business from claims of bodily injury or property damage when customers and other third parties enter the property.

GL benefits include protecting you from the following liability claims:

  • Third-party bodily injury
  • Property damage
  • Libel and slander claims
  • Copyright infringement
  • Legal fees and court costs

If a customer comes into your store only to slip and fall and hurt themselves, GL will pay their medical costs.

General liability insurance can be around $25/month for a retail store, which is $300/year.

The average cost of a slip and fall accident.
That’s 3,000 bottles of wine.

Property insurance for retail stores

Business property insurance covers you if your business property, equipment, and/or inventory is stolen, damaged, or destroyed.

Common cause of damage include:

  • Fire
  • Wind
  • Storms
  • Tornadoes
  • Hail
  • Lightning
  • Flooding
  • Vandalism

Let’s say a wind storm damages your roof. Property insurance will pay to repair or replace the damaged part of the roof. Without this coverage, you would have to pay for the costs out-of-pocket.

The average cost of property insurance for retail stores hovers around $33/month, which is $396/year.

Workers’ comp for retail shops

Whether you have employees or not, workers’ comp insurance is extremely important when it comes to protection against workplace illnesses or injuries. If you do have employees, odds are you’re legally required to have this policy. Even if you’re not technically mandated to have this coverage, if an accident happens on the job, do you really want to pay for the medical bills personally?

Workers’ comp covers illnesses and injuries that are job-related. If you or an employee require time off work to recover, lost wages can be supplemented.

Learn more about workers’ comp costs.

Business owner’s policy for brick and mortar stores

Think of a business owner’s policy as a way for you to tailor your plan. Usually, it combines general liability with business property insurance. In short, it makes for one simple and cost-effective business insurance policy. Let our experts know what type of coverages you need and we’ll do our best to create a BOP that meets all of your needs. Just fill out this simple form. After that, we’ll show you the best options.

BOP insurance covers:

  • Third-party bodily injury
  • property damage
  • Replacement and repair costs for business property
  • Business interruption incidents

BOPs can cost as little as $60/month for retail stores, which amounts to $720/year.

Learn more about business owner’s policy costs.

Retail store cyber insurance

Do you have a plan in place in case someone breaks into your computer and steals your sensitive information? Cyber insurance covers you if you happen to experience a data breach. A cyber policy includes notifying those affected, and paying for legal defense costs.

Cyber benefits include:

  • Paying for notification expenses
  • Paying for your legal defense
  • Paying for court-related costs, judgments, and settlements so you’re not out-of-pocket

The average cost of cyber insurance is $135/month, or $1,620/year.

Retail store insurance cost

Wondering how much you’ll need to pay each year? Every insurance quote we offer is tailored to you and based on the following and more:

  • Location
  • Number of employees
  • Are you a specialty store?
  • Current inventory
  • Coverage needs

In other words, it’s impossible to give an estimate without getting some details about your store. Luckily you can just fill out a quick form and we’ll show you the best prices.

Learn about business insurance costs.

Compare retail insurance quotes to save money

If you’re looking for affordable retail shop insurance, we can help. It just takes a few minutes for you to fill out a quick quote form so we can compare retail store insurance quotes from the top providers.

Not ready yet? Learn how to save on business insurance.