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insurance for retail business

What Insurance Do I Need for My Retail Business?

Owning a retail business can be rewarding, but it can also be a lot of hard work. If you own a retail business, then having the right insurance is essential. Making sure your business is protected with insurance is just one way to help your business thrive. Consider these types of insurance coverages for your retail business. Hopefully, you will not need to use insurance, but it is there just in case something unforeseen happens.

General Liability

This type of coverage is essential for your retail business. It helps protect your business in the event of a lawsuit regarding injuries or property damage. This means, if a customer slips and falls in your store and goes on the file a suit against you, general liability could help. In some cases, it may even help with slander and libel claims.

Commercial Property Insurance

Many retail businesses operate out of a store. If this is the case, then you should talk to your agent about getting property insurance. Property insurance helps protect you if your physical building. It can also help protect the building’s contents, as well as equipment that you have.

Cyber Insurance

While many businesses have brick and mortar stores, a lot of businesses also have an online presence. Some businesses may only have a digital presence. Cyber insurance helps protect you business in the event of a data breach or cyber attack. If someone hacks into your business and steals sensitive information, it could be a disaster. Thankfully, cyber insurance can help out.

Loss of Income

This coverage is useful in the event your business cannot run due to property damage. It covers the actual loss of income that your business would experience. Though this coverage is only applicable if the property damage is also covered by your policy.

Workers Comp

Workers comp is there to help protect your employees. If one of your employees gets sick on the job or they get injured while working, that’s where workers comp becomes handy. It helps cover medical expenses, legal fees, and lost income due to injury. While in most states workers comp is mandatory, you should still talk to your agent about it. They can help you determine how to best protect your employees.

Umbrella Policy

Umbrella insurance is like an extra safety net. When you don’t know what life is going to throw at your business, that’s where the umbrella policy comes into play. Sometimes referred to as excess liability insurance, umbrella insurance increases the limits of your existing policies. For example, if someone falls and gets hurt in your store and their medical expenses are above your liability coverage limits, that’s where your umbrella policy would kick in. It extends your coverage limits.


Talk to your insurance agent about the best way to help protect your retail business. Whether it’s online, or a brick and mortar store, your business has specific needs. Your agent can help you figure out what that coverage looks like. And if you have any questions regarding coverage, your agent can help out there too. Help protect your business with the right business insurance policies.


Call an Encharter agent today at 888.754.8299 and ask about the best way to protect your retail business!

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