Retail store insurance cost

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Every time you open your retail store doors to customers, you’re exposing yourself to risks outside your control. During business hours, shoppers may slip and fall on your floors and get injured. Even during non-business hours, threats like burglars or fires can cause hefty financial damage. Because you’re all too aware of these risks, you’re here to learn how much Retail Store Insurance costs. Good news: You can keep money in the bank and get coverage for most risks. Let’s check out the average Retail Store Insurance premium costs and what is covered.

What factors influence Retail Store Insurance cost?

Retail Store Insurance premium costs depend on several factors that we take into account, including:


Your location is an important consideration when determining your Retail Store Insurance costs. If you’re in a crowded location with a high amount of foot traffic, that may increase your cost because your risk level will be higher.

Number of employees

Your team’s size is one indicator of risk. The larger your team, the greater the chances of them causing bodily injury to a customer or property damage, which can increase your Retail Store Insurance cost.

Amount of coverage

When you purchase higher limits, you’ll pay a little more premium. At the same time, should you need to file a claim, you may be delighted you elected to purchase more coverage.


If you choose a higher deductible amount (the amount you pay out-of-pocket as your share of a claim), you can lower your costs. On the other hand, selecting a lower deductible could increase your insurance premium.

Fire risk

When determining your fire risk, we’ll review your store’s proximity to a fire station, your building construction type, level of fire resistance (e.g., whether you have a sprinkler system), and how it’s occupied and used.

What does Retail Store Insurance cover?

Thimble’s Retail Store Insurance is a type of coverage designed to cover retail stores from common risks that they face every day. Thimble offers Retail Store Insurance as a Business Owners Policy (BOP), which combines the following coverages into a single policy, making it both convenient and cost-effective:

  • General liability insurance: You might be in control of your brand, but many risks are out of your control in a retail environment. For example, a customer could hurt their back while reaching for an item on a tall shelf and sue your business for their medical expenses and lost income as a result of their injury. General liability insurance financially protects you if you face a claim for third-party bodily injury, property damage, and personal or advertising injury.

    If you get sued, general liability insurance will also arrange the investigation of the claim, your legal defense, and the settlement of claims.

  • Commercial property insurance: Commercial property insurance covers first-party risks, meaning damage, theft, or loss of your business property. If you own your building, commercial property insurance will cover damage to your building from perils like storms and fires. Even if you lease your building, commercial property insurance covers the business contents in your store or within 100 feet of it.

    For example, if a water pipe bursts and ruins your stock, commercial property insurance may cover the loss. Or if a thief breaks in and steals your work computers, commercial property insurance may compensate you for the value of your lost items as well as any property damage as a result of the break-in.

  • Business interruption insurance: If you are exposed to fire or damage from a storm, you will likely have to shut down your business until repairs are made and you can safely reopen. Business interruption insurance, included in a BOP, will cover your lost income and continued expenses until you’re able to light up that store sign again.

Hang the “Open” sign with confidence

Small-to-medium sized retail business needs Retail Store Insurance because it provides coverage for a broad range of risks. Thimble’s Retail Store Insurance combines commercial property insurance and general liability insurance in a convenient package.

Thimble takes care of you so you can take care of your customers. To cover your retail business, simply click “Get a Quote” here or on the app. Answer a few quick questions and get covered in minutes.

Retail Store Insurance Cost FAQs

What other kinds of insurance do I need for a retail store?

In addition to Retail Store Insurance, you should purchase commercial auto insurance if your business owns a vehicle. If you use personal, borrowed, or rented vehicles for any business purposes, you should consider adding hired and non-owned auto insurance to your BOP. Also, if you have employees, you may need to purchase workers’ compensation insurance to cover them.

One of my vendors wants to hold an event at my retail store. Does Retail Store Insurance cover me for risks?

If you are the organizer of the event, your Retail Store Insurance may cover you. Otherwise, you will want to make sure the organizer purchases event insurance and names you as an Additional Insured.

My landlord wants proof of Insurance. How can I provide that?

When you purchase Retail Store Insurance from Thimble, you can download a Certificate of Insurance (COI)
anytime through our app or online. You can download as many additional COIs as you need at no additional cost.

If I don’t own my own building, do I still need a BOP?

Even if you lease your building, a BOP is a good idea because commercial property insurance also covers the contents within your building, such as your inventory and equipment. However, if you decide that you don’t need commercial property insurance, you can decide to purchase general liability insurance as standalone coverage.

I sell my goods from a kiosk in a shopping mall. Do I still need Retail Store Insurance even if I don’t technically have a “store”?

We would still recommend Retail Store Insurance because it also covers theft and property loss or damage. If a water pipe bursts and destroys your inventory and your computer, Retail Store Insurance can cover the cost of your loss.

My retail store employee offers advice that leaves a customer unhappy. If they sue my business, will Retail Store Insurance cover me?

If you offer any kind of advice, you may be opening your business up to claims involving “errors and omissions,” which are not covered by Retail Store Insurance. In that case, you should consider professional liability insurance, which can cover you for mistakes that can lead to financial harm to your customers.