How much does business insurance cost for juice bars?
The cost of juice bar insurance depends on the policies you choose, the unique risks your juice bar faces, and the value of your business property. Save on small business insurance costs by comparing quotes from different providers with Insureon.
Top business insurance policies for juice bars and their costs
Here are the top insurance policies purchased by juice bars and their average monthly costs:
- Business owner's policy (BOP): $149 per month
- General liability insurance: $66 per month
- Workers' compensation insurance: $111 per month
- Commercial auto insurance: $222 per month
- Cyber insurance: $129 per month
Our figures are sourced from the median cost of policies that juice bar owners have purchased through Insureon. The median offers a better estimate of what your business is likely to pay because it excludes outlier high and low premiums.
Business owner’s policy
Juice bars pay an average of about $149 per month, or $1,783 annually, for a business owner’s policy.
A business owner's policy, or BOP, bundles general liability coverage with commercial property insurance to protect against common third-party risks and damage to your juice bar equipment, such as blenders and refrigerators. It typically costs less than purchasing each policy separately.
A BOP covers customer injuries and property damage, along with damage to your own business property. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s agents.
This is the average business owner's policy for juice bar companies that buy from Insureon:
Insurance premium: $149 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $1,000
Small, low-risk food and beverage businesses are often eligible for a business owner's policy.
Juice bar owners and other food service and beverage companies may see higher costs if they choose to add endorsements to their policy.
Insurance endorsements, such as business interruption insurance or equipment breakdown coverage, are often recommended to help avoid financial losses if a fire or power outage forces your business operations to cease for an extended period of time or causes food spoilage.
The cost of a business owner's policy is based on a number of factors, including the value of your property, where you are located, and the number of employees you have.
General liability insurance
Juice bar businesses pay an average of $66 per month, or $795 annually, for general liability insurance (sometimes called public liability insurance).
General liability insurance covers common juice bar business risks, including third-party property damage and bodily injury. For example, if a customer slips and falls on a wet floor at your smoothie shop, a general liability policy would then cover their medical bills.
It can also help pay legal fees if someone sues your business for copyright infringement or advertising injuries, including defamation. However, one exclusion is alcohol-related claims. For that, look to liquor liability insurance.
In addition, some landlords may require juice bar owners to obtain proof of insurance to sign a commercial lease.
Below is the average general liability policy for juice bar businesses that buy from Insureon:
Insurance premium: $66 per month
Policy limits: $1 million per occurrence; $2 million aggregate
General liability coverage often includes product liability insurance, which protects your juice bar company against claims that a product you sold or distributed caused food poisoning.
General liability insurance costs depend on factors such as the coverage limits and deductible you choose, your business size, income, foot traffic, and any additional insured endorsements you select.
Learn more about how your insurance premium is calculated and how to save money on your general liability coverage.
Workers’ compensation insurance
The average cost for workers’ compensation insurance for juice bar stores is $111 per month, or $1,332 annually.
A workers’ compensation policy covers medical bills and lost income if you or an employee gets injured or ill on the job, such as an employee at your smoothie business who cuts themselves with a sharp knife and needs urgent care. Businesses that have employees typically must purchase workers' comp to comply with state requirements and avoid penalties.
Workers' comp state laws vary, and your specific requirements will depend on the state you live in. For example, all juice bar businesses are required to carry a workers' compensation policy in California if they have one or more employees. However, coverage is optional in Texas.
Most policies include employer’s liability insurance, which protects juice bar owners against lawsuits related to workplace injuries.
Since health insurance plans can deny claims for injuries related to your job, workers' compensation coverage is also recommended for sole proprietors as a financial safety net and for extra peace of mind.
The cost of workers' comp depends on several factors, primarily your number of employees and their occupational risks. You can save money on your workers' comp coverage by classifying your workers correctly and implementing a risk management plan to minimize employee injuries.
Commercial auto insurance
Juice bars and other food businesses pay an average of $222 per month, or $2,669 annually, for commercial auto insurance.
This type of business insurance pays for property damage and medical expenses from accidents involving your company vehicles, such as your business-owned delivery vans and juice bar trucks. It can also cover vehicle theft, vandalism, and weather damage.
Most states require this type of insurance for vehicles owned by your juice bar. For personal, rented, and leased vehicles used for work purposes, look to hired and non-owned auto insurance (HNOA) instead.
The cost of commercial car insurance depends on several factors, including the policy limits you choose, claims history, the number and value of your vehicles, and the driving records of anyone permitted to drive. Learn how insurers calculate your premium and how to save money on commercial auto coverage.
Cyber insurance
Small businesses pay an average of $129 per month, or $1,552 annually, for cyber insurance. You might also see this policy called cyber liability insurance or cybersecurity insurance.
Cyber insurance helps juice bar businesses recover financially after a data breach or cyberattack. It can help pay for customer notification costs, fraud monitoring services, and other costs necessitated by state data breach laws.
The cost of cyber insurance depends on the amount of personal information handled by your juice bar, such as customer credit card numbers, along with the number of employees who can access that information.
How are juice bar insurance costs calculated?
Juice bar insurance coverage costs are determined by several factors. While underwriting your policy, insurance companies will consider the following when calculating insurance rates:
- Type of services offered: Juice bars may see elevated premiums if they offer higher-risk products or services, such as using a high-powered blender with sharp blades to make juice.
- Business property and equipment: Juice bar businesses that work with high-value products are likely to see higher premiums. Also, any equipment that is frequently used could cost more to insure than items that are used less often.
- Location: If your juice bar operates in an area that is more prone to natural disasters, increased foot traffic, or high crime rates, you may have to pay higher insurance costs than a shop located in an area where these factors are less present.
- Number of employees: If your juice bar business has several employees on staff, you could see increased insurance costs as there are more opportunities for kitchen accidents to happen or for potential damage to occur to a customer's property.
- Business size and revenue: Insurance companies might assume a juice bar that is making more money will also see increased customer exposure, which can generate higher premiums.
- Coverage limits and deductibles: Juice bar businesses with higher coverage limits and lower deductibles on their insurance policies will typically see their premium costs increase, while lower limits and a higher deductible can help keep their rates lower.
- Type of business operation: A small juice bar operated by one person may not have to pay as much for insurance as a larger juice bar franchise with several staff members.
- Types of insurance coverage purchased: Some policies are required for juice bars to obtain licensing or permits. These required policies often are needed to cover more expensive accidents and lawsuits, and tend to cost more than other basic coverages.
- Claims history: A juice bar with a lengthy list of previous insurance claims will likely pay more for insurance than one with no claims history.
How do I get affordable juice bar insurance?
Insureon can help juice bar franchises, coffee shops and cafes, bars, and other businesses in the food service and beverage industry find affordable insurance coverage, whether you work independently or hire employees.
To get started, all you need is your business information on hand. Our insurance application will ask for basic facts about your business, such as revenue and number of employees. Then, you can buy a policy online with Insureon in three easy steps:
- Fill out a free online application with details about your business.
- Compare custom quotes from top-rated U.S. insurance companies.
- Select a policy and pay the premium to begin coverage.
Our licensed insurance agents are available to answer questions about the different kinds of juice bar insurance policies, state insurance requirements, and the best types of coverage for your specific needs.
Once you've bought the right policies for your insurance needs, you can download a certificate of insurance (COI) for proof of coverage. Most small business owners can get insured with the right coverage within 24 hours of applying for quotes.
What our customers are saying
The average costs on this page were derived from our data on small business owners in the juice bar field who purchased policies through Insureon. Most of our customers have less than five employees, annual revenue ranging from around $50,000 to more than $200,000, and five years or less in business.
Get free insurance quotes for juice bars
Want free expert advice right in your inbox?
By entering your email address and subscribing, you agree to our Terms of Use and Privacy Policy