Business Insurance Requirements for Convenience Stores in New York

Whether you own a dairy bar in Albany, a drug store in Rochester, or a bodega in New York City, your shop is likely one of the traditional corner stores that New Yorkers have come to rely on. Running an independent convenience store comes with a unique set of challenges. A robbery or accidental damage can injure your business in such a way that it might never recover. Business insurance is one of the best ways to safeguard against the unexpected.

New York state law requires nearly all small business with one or more workers to carry workers’ compensation insurance. While not legally required in New York, your leasing agreement will likely stipulate proof of general liability and/or commercial property insurance. Potential suppliers may also ask you to show proof of professional liability insurance before they enter into an agreement with you. Also called errors and omissions, this coverage helps protect you if a business discrepancy leads to a lawsuit.

Insureon makes shopping for insurance easy with industry-leading technology that gathers quotes from top U.S. carriers that fit your needs. Read more to find out which policies are most common for convenience stores in New York, and start an application to get your free quotes today.

Find the right insurance policy for your convenience store

The most common policies for New York convenience stores vary depending on certain factors, including revenue, client contracts, and partnerships. The table below illustrates which policies might work best for your business type.


Business type General liability Property insurance / BOP Workers' comp
Small convenience store with only one part-time employee X X  
Convenience store with full-time employees X X X


General liability insurance: General liability insurance is the foundation of a convenience store’s business protection with coverage that extends to bodily injury, client property damage, advertising injury, and the cost of legal defense. Most commercial leases require you to have this coverage.

Commercial property insurance: Commercial property insurance protects your owned commercial space and business equipment. It can cover expenses to repair or replace your business property if it's stolen, vandalized, or damaged.

Business owner's policy (BOP): Convenience store owners sometimes qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.

Cyber liability insurance: Cyber liability insurance helps convenience store owners survive data breaches and cyberattacks by assisting with recovery expenses. You may need this policy if you handle sensitive data such as credit card numbers, passwords, or Social Security numbers.

Business interruption insurance: Business interruption insurance can cover lost revenue when an event forces you to temporarily halt operations. This policy allows you to pay ongoing bills such as rent, salaries, and loans until you reopen.

New York workers' compensation insurance: New York state law requires nearly all small businesses with one or more workers to carry workers’ compensation insurance. For sole proprietors, this coverage is optional. New York runs a competitive state fund that allows for coverage to be purchased through private insurers as well as through the state. Retail workers in New York missed a median of 10 days of work due to a workplace injury in 2016, according to data from the Bureau of Labor Statistics. Across the United States, retail workers were most commonly injured in the workplace due to overexertion or falls, slips, and trips, according to 2016 BLS data shown in the chart below.

Most Common Workplace Injuries: Retail Workers in the U.S.

Business insurance costs for convenience stores in New York

New York convenience store owners can expect their business insurance costs to trend lower than the national average, according to an analysis of Insureon applications. In New York, the cost of a business owner’s policy is slightly higher than the national median, at around $240 per month. Generally, a BOP bundles a general liability policy and a property insurance policy at a discounted rate, but it can bundle other policies as well. To save money on your insurance, ask your agent for details about which policies can be bundled. In all, convenience store owners in New York can expect to spend around $300 per month to secure their small business.

Median Insurance Costs for New York Convenience Stores

Save time and money with Insureon

Insureon’s industry-leading technology helps convenience store owners in California save time and money shopping for insurance by comparing policies from dozens of top U.S. carriers. Simply apply online and review quotes for the policies that best fit your business needs. Our insurance specialists are licensed in New York and can answer your questions as you consider coverage.

To make the application go even quicker, have this information ready:

  • Workforce details, such as the number and types of employees.
  • Current and projected revenue.
  • Business partnerships.
  • Insurance history and prior claims.
  • Commercial lease insurance requirements.

Apply for free convenience store insurance quotes today.