Why do computer and electronics stores need insurance?
The combination of foot traffic and valuable inventory means high risks for electronics stores. A customer could trip over a display of HD TVs, or sue over data loss due to a damaged hard drive. Small business insurance safeguards your shop against theft, fires, legal costs, and medical bills.
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With Insureon, owners of electronics stores can get insurance coverage the same day they apply for quotes.
Fill out our easy online application to compare quotes from top-rated providers.
What types of insurance do computer and electronics stores need?
These insurance policies cover common risks faced by electronics stores.
Business owner’s policy
A BOP bundles general liability coverage and commercial property insurance in one plan. It's often the most cost-effective type of insurance for computer and electronics retailers.
- Customer injuries
- Stolen or damaged computers and electronics
- Business interruption insurance
General liability insurance
A general liability policy covers basic third-party risks, including accidents that harm customers or damage their property. Bundle it with commercial property insurance for savings in a business owner's policy.
- Slip-and-fall accidents
- Damaged customer property
- Product liability insurance
Workers’ compensation insurance
Most states require workers' comp for computer and electronics stores that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Cyber insurance
This policy helps computer and electronics stores survive data breaches and cyberattacks. It's recommended for any shop that handles credit card numbers or other sensitive information.
- Customer notification expenses
- Fraud monitoring services
- Cyber extortion demands
Commercial umbrella insurance
Umbrella insurance (similar to excess liability insurance) boosts coverage on general liability, employer’s liability, and commercial auto insurance policies once the policy limit is reached.
- Bodily injury lawsuits
- Property damage lawsuits
- Auto accident lawsuits
Commercial auto insurance
Most states require commercial auto insurance for business-owned vehicles. This policy covers accidents involving a computer shop's delivery van or other vehicle.
- Damage to another vehicle
- Injuries caused to another person
- Repairs due to vandalism or weather
How much does insurance cost for retail businesses?
A small computer shop will pay less for insurance than a large electronics store.
Factors that affect electronics store insurance cost include:
- Retail services and products offered, such as smartphones or computer repair
- Business property and equipment
- Business income
- Business location
- Types of insurance purchased
- Policy limits and deductibles
How do I get electronics store insurance?
It's easy to get electronics retailer business insurance if you have your company information on hand. Our application will ask for basic facts about your store, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application
- Compare insurance quotes and choose policies
- Pay for your policy and download a certificate
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your computer and electronics store, whether you work independently or hire employees.
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