We have great insurance packages for retail businesses
Whether you own a grocery, convenience, jewelry, electronics, clothing, record or department store, we have a wide range of insurance packages that can be customized to fit Ontario retailers of all types and sizes. Speak with one of our retail business insurance experts for a free consultation and no-obligation quote.
Start saving on retail insurance today
Focus on your business and customers and let us sweat all the insurance details. As an outlet for over 70 of Canada’s top insurers, we have access to some of the most comprehensive coverages out there at the most competitive rates. Have questions? Give us a shout. We’re always happy to help.
What are some recommended retail business insurance coverages?
Every retail business is different, but most retailers would benefit from the following coverages:
Commercial general liability
Coverage if someone is hurt in your store or if you accidentally damage their property. It includes legal fees, court-awarded costs and out-of-court settlements.
For delivery or service vehicles, it covers theft, damage, plus liability and medical costs in case of an accident. Have five or more company vehicles? Ask about fleet insurance.
Essential for every retail business, it covers hacks and breaches of point-of-sale systems, lost sales and revenues, and provides you with vital technical recovery, legal and PR support.
Covers your store, inventory, equipment and more against fire, storms, burst pipes, vandalism and theft. We can also provide coverage for home-based retail businesses too.
Coverage that replaces lost revenues if you have to close for a day or a month, or if your business is otherwise disrupted after a fire, flood or another insured loss.
Other coverages for your retail business:
Inventory or stock insurance
This protects the value of the inventory you have on hand, whether it be flooring, electronics, produce, paint or whatever else your retail business sells.
Stock in transit
If you deliver or ship products to your customers, this is a valuable coverage that protects the shipment from when it leaves your loading dock until it arrives at their front door.
Employee theft and fraud
This protects against financial losses if your staff walks away with cash, stock or other business property. You can find info on the main types of employee retail fraud here.
Good to know: Common questions about retail business insurance
How much does retail business insurance cost?
Insurance premiums can start from as low as $650 a year for a small retail business with $2 million of commercial general liability coverage. The actual cost of your policy will depend on a number of factors, including:
- The location and size of your store
- The annual revenues of your company
- How many employees you have
- How many years of experience you and your employees have
- Whether you have had past claims
Do I need special coverage if I use my personal car to make deliveries for my store?
If you have a small shop and you or your employees use your own personal vehicles for deliveries, be aware that your personal auto insurance doesn’t usually cover your vehicle for business use. This could create issues with your claim if you’re involved in an accident. But don’t worry, there are ways to cover a personal vehicle for business use, including non-owned automobile insurance. Our commercial experts can advise and help ensure you and your company have the right coverage in place.
What is Bailee’s insurance and does my store need it?
Bailee’s insurance covers your business if it offers storage, repair or services that involve taking temporary possession of other people’s property. It protects a customer’s property from theft, damage or loss while in your care.
What if I operate my retail business from home?
If you’re running a home-based business, you won’t need separate commercial property coverage, which will help you save money on your premiums. Something to keep in mind is that your home insurance policy doesn’t cover business-related tools, materials and inventory that you may store there. So it’s wise to speak with your insurance broker to be certain that you have the right coverage in place and your company is protected.