Business Insurance for Pharmacies

Pharmacies and Drug Stores
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Why do pharmacies need insurance?

Pharmacies are a common target for criminals, especially when you have long hours or few employees. Business insurance is a key part of risk management, and helps you recover financially from theft, fires, storms, and lawsuits. Some policies, such as workers' comp, may be required by law.

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Find the right coverage

Insureon helps pharmacy owners find insurance that matches your unique risks.

Get free expert advice and peace of mind knowing you have the right property and liability coverage for your small business.

Which business insurance policies do pharmacies need?

These insurance policies cover common risks faced by pharmacies.

Business owner’s policy icon

Business owner's policy

A business owner's policy, or BOP, is a cost-effective way to buy general liability coverage and pharmacy property insurance together. Small, low-risk businesses are eligible.

  • Customer lawsuits
  • Damaged or stolen drugs
  • Business interruption insurance
General liability insurance icon

General liability insurance

A general liability policy can cover a pharmacy’s legal defense costs if a customer sues over an accidental injury or damaged property. Bundle it with commercial property insurance in a BOP.

  • Slip-and-fall accidents
  • Damaged customer property
  • Product liability insurance
Workers’ compensation insurance icon

Workers’ compensation insurance

Most states require workers' comp for pharmacies that have employees. It also protects sole proprietors from work-related injury costs that health insurance might deny.

  • Employee medical expenses
  • Disability benefits
  • Legal fees from employee injuries
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Cyber insurance

This policy helps pharmacies survive data breaches and cyberattacks. It's recommended for any small business that handles credit cards or other sensitive data.

  • Customer notification expenses
  • Fraud monitoring services
  • Cyber extortion demands
Umbrella / excess liability insurance icon

Commercial umbrella insurance

Umbrella insurance (similar to excess liability insurance) boosts coverage on general liability, commercial auto, or employer’s liability insurance once the underlying policy reaches its limit.

  • Bodily injury lawsuits
  • Property damage lawsuits
  • Auto accident lawsuits
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Commercial auto insurance

Most states require commercial auto insurance for business-owned vehicles. This policy covers accidents involving a pharmacy's delivery van or other vehicle.

  • Damage to another vehicle
  • Injuries caused to another person
  • Vehicle theft and vandalism
Looking for different coverage? See more policies.

How much does insurance cost for retail stores?

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A small pharmacy with a few employees will pay less for insurance than a larger business.

Factors that affect your premium include:

  • Retail products and services, such as online or mail ordering
  • Business operations
  • Business property and equipment
  • Types of insurance purchased, such as equipment breakdown coverage
  • Policy limits and deductibles
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How do I get pharmacy business insurance?

It's easy to get business insurance for your pharmacy or drug store if you have your company information on hand. Our application will ask for basic facts about your business, 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:

  1. Complete a free online application
  2. Compare insurance quotes and choose policies
  3. 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 pharmacy, whether you work independently or hire pharmacists.

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