Retail Insurance for Shops
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Why Do I Need Retail Shop Insurance?
Whether you own a gift shop, a toy store, or an antique business, all types of people will walk through your shop’s front door. The moment they do, your business needs protection from potential accidents and property damage. At Simply Business, we can help you find top-of-the-line, yet affordable, insurance to cover your retail venture. That way, you can focus on growing your business and serving customers as they shop.
When we refer to “Retail Insurance,” we mean any one or combination of multiple business insurance policies that will help cover a retail shop business. We’ll get into more detail below.
Below are some of the most common types of insurance policies that retailers carry to stay protected.
What Type of Retail Insurance Do I Need?
General Liability
A foundational insurance coverage to help handle costs from third-party accidents, property damage, and bodily injury.
From
$20.75
/month*
Workers’ Comp
Coverage to help take care of employees who get sick or injured on the job. Most states require this coverage for small businesses with full- or part-time employees. It also can benefit business owners who don’t have employees.
From
$38.91
/month*
Business Personal Property
Coverage to replace or repair equipment, furniture, fixtures, and inventory.
Cyber
(Crucial for IT/data-focused consultants)
Coverage to insure e-commerce businesses against claims associated with stolen customer data, cyberattacks, breaches, and fraud.
Business insurance —
a quick explainer
Learn more about policies for small businesses, what they cover, why you might need them, and how we can help – all in just 60 seconds.
Business insurance is often made up of different types of policies to cover different things, similar to how your health insurance can be made up of medical dental and vision coverage. Here are some of the ones small business owners need. General liability is kind of the Swiss army knife of insurance. It can do a lot, like help handle costs from third party accidents, property damage, bodily injury, and more. Nobody’s perfect, right? That’s what professional liability is for. It could come in handy in the event of honest mistakes or claims of negligence. Workers’ comp can protect your business and help take care of employees who get sick or injured on the job. Small businesses are big targets for cyber criminals. Cyber Insurance can help cover costs associated with stolen customer data, cyber attacks, breaches, and fraud. BOP or a business owners policy combines different types of coverages like general liability and commercial property insurance. Putting them together for you is where we come in. You tell us a bit about your business online or on the phone, and we customize the coverage options for what you do and what you need. It’s your business, it should be your insurance as well. That’s why we’re here.
What Kind of Insurance Might General Retailers Need?
General Liability Insurance
When you think of business insurance, chances are general liability insurance (GL insurance) comes to mind. This policy can cover you if there’s a third-party accident, injury, or property damage at your store. In fact, many building owners require you to have general liability insurance before signing a lease.
It’s easy to see why general liability insurance is so important. Let’s say a customer walks in your front door and trips over one of your product displays. If your customer is seriously injured, you may be on the hook to pay for medical bills and more. This could add up to hundreds or even thousands of dollars in damage. But with GL insurance coverage, your business is safer.
Here’s what you can expect in general liability coverage:
- Third-party bodily injury
- Third-party property damage
- Personal and advertising injury
- Claims arising from product defects
- Medical expenses
- And more
Here’s what general liability insurance usually doesn’t cover:
- Damage to your own property
- Professional services
- Workers’ compensation or injury to your employees
- Damage to your work
- Motor vehicles while in business use
- Expected or intentional injury or damage
- And more
Workers’ Compensation Insurance
It’s possible you work solo, but most store owners have one or more employees. And if you do, you may need workers’ compensation insurance. In most U.S. states, it’s legally required — and for good reason. Workers’ compensation insurance can help protect you if an employee gets sick or injured on the job. Without insurance, you could be responsible for paying for their medical bills, job rehabilitation, time off work, and more. With the right insurance coverage, though, your policy could help pay for these costs.
For example, most workers’ compensation policies typically cover:
- Medical costs
- Lost wages during a worker’s time off
- Rehabilitation expenses
- Death benefits
Workers’ compensation usually doesn’t cover:
- Client or vendor accidents
- OSHA fines
- Work safety improvements
- Wages for a worker who replaces the injured employee
Business Personal Property Insurance
If you’re a general retailer, it’s generally a good idea to protect your store’s inventory, furniture, tools, and equipment. Imagine if your store was burglarized or if items were damaged or destroyed. It could close your shop down, possibly for good.
Fortunately, business personal property insurance is there to protect the items and assets you need to run your business. Purchasing business personal property insurance is a smart way to enhance your general liability coverage and secure your business even more.
For example, personal property insurance usually covers:
- Machinery and manufacturing equipment
- Inventory
- Furniture
- And more
Cyber Insurance
A University of Maryland study found that a hacker attacks every 39 seconds on average. Sooner or later, it’s something just about every business owner is likely to run up against.
There’s a good chance small businesses like yours don’t have the IT resources and sophisticated cyber defenses of larger companies. That can make you an easier target for cybercriminals.
While firewalls and anti-virus software are good, they’re not perfect. Even if just one cyberattack is successful, the financial damage could be tens of thousands of dollars. That’s why we think you should consider adding cyber insurance to your general retailer coverage. It can help cover many of those costs.
Cyber insurance usually covers:
- Crisis management expense
- Forensic and legal expense
- Fraud response expense
- Extortion loss
- Public relations expense
- And more
Cyber liability insurance usually does not cover:
- Potential future lost profits
- Cost to improve system security
- Loss of value from theft of intellectual property
- And more
Why Do I Need Insurance as a General Retailer?
Running your own business, and especially a retail shop, isn’t for the faint of heart. It takes hard work, commitment, and usually quite a few working hours. Whether you’ve owned a shop for a few years or you just began a new venture, you want to protect your business for years to come.
General liability insurance, including business personal property coverage, as well as workers’ compensation, can keep your shop open and running. Imagine if an injured or unhappy customer files a claim against your business. Depending on the claim, it could cost you thousands of dollars.
In fact, here are examples of some of the most common small business claims and how much they could cost:
- Product Liability: $35,000
- Customer Injury or Damage: $30,000
- Customer Slip and Fall: $20,000
- Burglary: $8,000
Having a strong business insurance policy can also help you lease a storefront, rent equipment, and even hire new employees. Depending on your business, it also can attract new customers. In fact, many small business owners request a Certificate of Insurance from us. This important document provides proof to customers, vendors, and other business owners that you’re covered by an insurance policy.
What Does Retail Insurance Cost
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Answers to More General Retailer Insurance Coverage Questions
It depends on where your store is located, as well as the type of store you run. Some states and local municipalities require you to carry business insurance. If you have employees, your state may require you to purchase workers’ compensation insurance, in the event an employee gets injured or sick on the job.
Most likely, yes! But it’s a good idea to consult with a tax professional or an accountant first. Often, business insurance premiums can be deducted on your income tax return.
There’s no one-size-fits-all answer here. Every retail shop owner has unique needs — and that includes insurance. It depends on how you run your business, if you have employees (and how many), and several other factors, such as:
- The size of your business
- Your business’s location
- Your annual revenue
And more
When you fill out Simply Business’s online quote form, our insurance professionals will help you find the right amount of coverage for your retail business.
And if you have questions? A Simply Business licensed insurance agent can help.
We want to make purchasing business insurance as fast and easy as possible. To help the process go smoothly, it helps to have the following information on hand before you begin requesting a quote:
- Annual revenue estimates
- Payroll estimates
- Information on any previous claims
Business insurance for retail shops might include a variety of different policy types. Your coverage, therefore, will depend on the policies you carry. If you have general liability insurance, business property insurance, and workers’ compensation insurance your coverage could protect your business against:
- Third-party bodily injury
- Accidents and damages
- Employee injuries
- Property damage
- And more
The cost of business insurance typically varies. It depends on a few factors, such as if you have employees, the location of your business, and what you’re selling. Generally speaking, the cost of a policy depends on:
- Your revenue
- Your payroll
- Your business location
- The type of product(s) you sell
- And more
If you want to know what business insurance for general retailers might cost, check out our online quote form. It’s simple and fast to compare quotes. In fact, you might just get coverage today! Looking for more detail on what goes into the cost of your retail policy? See our Retail Insurance Cost Guide.
Why Small Businesses Choose Simply Business
Small business insurance is what we do. Whether it’s covering you for accidents and errors, meeting workers’ comp requirements, or financially protecting your business from the unexpected, we can help find the coverage you need for your business.
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*The displayed price for each product is a monthly estimate calculated from the 10th percentile of relevant policies sold by Simply Business (e.g., General Liability data is used for General Liability estimates). This estimate uses data from relevant policy sales between July–December 2025. Final price and payment terms, which may include an initial down payment, are subject to change based on your state, selected insurance provider, and specific business details.
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