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Retail Insurance
Protect your shop with tailored retail insurance
This coverage provided and serviced by affiliated and third-party insurers.. Read more
Customized small business insurance for retail stores
Running a retail store means balancing customer service, inventory, and daily operations. With so many moving parts, it helps to have insurance that's the right fit. Customized coverage for retail businesses can help protect your shop and support your growth.
What is retail insurance?
Retail business insurance is a combination of coverages designed to help with common risks, like customer accidents, property damage, theft, and certain legal claims. Your policy should reflect your setup, including your store size, inventory, employees, and sales channels.
Our team of experts can help you find retail store insurance that works for you. Call us or get a quote online to start building a policy.
Why retail shop insurance is important
Getting insurance for your retail business matters because it can help protect you when everyday problems turn into bigger setbacks. If a customer is injured in your store or a fire damages your inventory, the right coverage could pay medical bills or replace what was lost. That kind of support can make it easier to bounce back without putting extra stress on your budget.
In some situations, you may also be required to have insurance. For example, a landlord may ask for a certificate of insurance (COI) as proof that you have coverage. This can help both you and your landlord if damages occur.
Who needs retail insurance?
Any business that sells goods to the public should have retail insurance, including:
- Jewelry stores
- Florists
- Pet stores
- Clothing boutiques
- Grocery stores
- Furniture stores
- E-commerce
- Hardware stores
Whether you run a single retail location as a sole proprietor or manage a local chain as an LLC, retail store insurance can help you keep your business running smoothly.
Types of retail insurance
Retail businesses vary widely. Whether you sell books, vinyl records, or bicycles, having coverage that matches your specific risks is important. Review common policies for retail shops to decide what's right for you.
General liability (GL)
Protects against third-party injury and property damage
General liability (GL)
Protects against third-party injury and property damage
General liability insurance covers claims of injury or property damage to others. It can also protect against personal and advertising injury, such as slander, libel, and copyright infringement. See more about the benefits of general liability and how much GL coverage costs.
Example: A photographer sues you for using their work without permission in a social media campaign. General liability could help pay for legal expenses and settlement costs related to the claim.
Business owners policy (BOP)
Packages liability and property insurance into one policy
Business owners policy (BOP)
Packages liability and property insurance into one policy
A BOP combines liability and commercial property coverage into one easy-to-manage policy. It can protect your storefront and other business personal property — such as inventory, computers, and furniture — against theft, vandalism, fire, and other incidents. You can also customize your policy with additional BOP coverages, like business interruption insurance and employment practices liability.
Example: A storm breaks the front window of your leased retail space, causing water and wind damage to your inventory, furniture, and flooring. A BOP can cover the cost of repairing your space and pay lost income, payroll, rent, and other expenses while you recover.
Workers' compensation
Covers employees who get sick or injured on the job
Workers' compensation
Covers employees who get sick or injured on the job
Workers' compensation insurance pays medical bills and lost wages to employees who get injured or sick because of their job. The cost of workers' comp varies depending on staff size, location, and other factors. Check your state workers' comp requirements to see the rules where you live.
Example: Your store manager hurts their back while unloading a delivery. Workers' comp can help pay for their doctor visits and lost wages during recovery.
Commercial auto
Protection for business vehicles
Commercial auto
Protection for business vehicles
You might need commercial auto insurance if you use a vehicle for work-related tasks, such as deliveries. Basic auto liability coverage is required by most states and protects you if you cause injury or property damage to others in an accident. Additional commercial auto coverages can expand protection to cover your drivers and vehicle.
Example: Your employee is delivering inventory from one store to another and causes a car accident. Your commercial auto policy can help pay for the other driver's medical bills and vehicle repairs.
Cyber
Safeguards customer data, software, and your reputation
Cyber
Safeguards customer data, software, and your reputation
Many retailers rely on sophisticated point-of-sale (POS) systems to handle transactions, monitor inventory, and manage customer information. If someone hacks into your system or a cyber attack interrupts your operations, cyber insurance can help pay for investigations, data recovery, and legal fees. Find out what cyber insurance covers and what it costs.
Example: Malware infects your POS system and exposes customers credit card information. Cyber insurance can help pay to investigate the attack, secure your data, and notify customers of the breach.
Protect your inventory when it's on the move
If your inventory moves beyond your storefront, inland marine insurance may be worth considering. This coverage can help protect certain goods while they're in transit, stored off-site, or displayed at temporary locations like pop-up shops and trade shows. You can add it to your general liability or business owners policy.
How much does retail store insurance cost?
Every retailer is exposed to different types of risk, so costs can vary. Your rate depends on the unique qualities of your business, including:
- Your retail space(s)
- Inventory value
- Years in business
- Location
- Number of employees
- Claims history
For example, a small e-commerce company without staff or a storefront would probably pay less than a brick-and-mortar shop with multiple employees. Fewer on-site risks and less exposure to customer and staff injuries usually leads to lower costs.
Learn more about how retail business insurance cost is calculated. The surest way to find out your rate is to start a quote from Progressive Commercial.
Why choose retail insurance through Progressive Commercial
You work hard to create a business that keeps customers coming back. Our team is here to help you succeed by providing reliable support, flexible options, and competitive rates. Get a personalized retail insurance quote or talk to one of our in-house specialists. We'll help you find the right coverage for your shop.
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