Retail liability insurance can be required by your city, state or profession. Even if it’s not mandatory, business insurance for your retail store can help cover costs if:
- You injure a non-employee or damage someone else’s property.
- Someone says that your professional mistake caused a financial loss.
- A fire, theft or vandalism damages your business.
- A covered event, such as a burst pipe, damages your products, business gear, equipment and inventory.**
Retails most often purchase these types of insurance:
General Liability insurance for retail
A general liability insurance policy can help protect you from expenses related to accidental damage to property you don’t own or an injury to someone who’s not an employee (such as customer slip-and-fall injuries).
This type of liability insurance could provide financial help for medical payments, legal fees and judgments.
Learn more about General Liability insurance.
Commercial Property insurance for retail
This can help protect your business property, such as gear, goods, business inventory and the building you own for business in the event of fire, theft and vandalism.
It can also help protect business inventory, furniture and fixtures you own. Equipment breakdowns and lost income may also be covered if you suddenly have to close business for repairs.
Learn more about Commercial Property insurance.
Product Liability insurance for retail
Consider this coverage if you source, make or sell products.
Product liability coverage — included in general liability insurance — can help protect your small business from losses if a customer says that an issue with your product caused them injury or property damage.
Learn more about Product Liability insurance.