From smoke shops to electronics stores, retail shops are susceptible to theft, fires, injuries, and lawsuits. Insureon helps retail business owners secure the policies they need for their unique risks.
A BOP bundles commercial property insurance and general liability insurance in one plan. It's often the most cost-effective type of business insurance for retailers.
This policy covers common retail shop risks, such as a customer slipping in a spill at a grocery store. Bundle with commercial property insurance for savings in a BOP.
Most states require workers' comp for retail businesses that have employees. It also protects sole proprietors from work bodily injury costs that private health insurance might deny.
Also known as cyber liability insurance, this policy helps retail stores survive data breaches and cyberattacks. It's recommended for any shop that handles credit card numbers or other sensitive information.
Umbrella insurance boosts coverage on a retailer's general liability insurance, employer’s liability, or commercial auto insurance once the policy reaches its limit.
Most states require commercial auto insurance for business-owned vehicles. This policy covers accidents involving a retailer's delivery van or other vehicle.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Business interruption insurance, also known as business income insurance, compensates small business owners for their normal operating expenses, as well as other associated costs if a fire or other commercial property insurance claim forces you to temporarily close your doors.
Specifically, it can help pay for:
This policy typically offers up to 12 months of lost income coverage, which means you can keep your employees even if it takes your business a year to rebuild. However, it is important to read your policy carefully to know exactly how long your benefits last.
Faulty goods can impact retailers. If your store sells a product that turns out to be harmful or defective, you can be liable for any damage it causes.
When a product is deemed dangerous, anyone involved in the journey from manufacturer to consumer can be held liable, including the design company, materials vendors, distributor, and all retailers that sold the product.
One of the most important steps is carrying the proper insurance to shield your business from potential lawsuit costs. Consider investing in these retail insurance policies:
In the event of an incident, the following types of small business insurance policies can help your business recover from the financial losses of stolen items and reputational damage:
To fully protect your retail store business from all risks and liabilities, you may need additional types of coverage. For certain locations and landlords, your retail store might be required to carry liability insurance before you can even sign a lease.