Retail Insurance

Retail Insurance

We find the right retail insurance that protects your business against theft, product malfunctions and other unforeseen events.

Join thousands of Canadian businesses that are already protected!

Partnership with over 50 leading Canadian insurance companies

Zen Lady protected by retail insurance

What is Retail Insurance?

Whether you run a retail shop business in-store, online, or from home, you run the risk of claims alleging defective products or client injuries.

Retail insurance provides financial coverage for claims or lawsuits related to your products and business operations.

Retail Insurance Coverages

What does Retail Insurance cover?

Retail Insurance packages together different types of business insurance to offer comprehensive coverage.

Depending on your retail operation, a comprehensive insurance policy package will typically include:

  • Commercial General Liability (CGL) Insurance, which provides financial protection against claims or lawsuits alleging third-party property damage or bodily injury.
  • Product Liability Insurance covers costs associated with claims or lawsuits alleging third-party bodily injury or property damage resulting from a product you sell or manufacture.
  • Commercial Property Insurance provides financial coverage for loss or damage to your property due to an unforeseen external event, such as a fire or theft.
  • Cyber Liability Insurance policy provides financial protection against network security and privacy issues, such as a data breach.
  • Business Contents Coverage provides financial coverage for loss or damage to the contents of your business, such as inventory or stock.
Retail Insurance Requirements

Who needs Retail Insurance?

Any individual or businesses that sell, develops or manufactures products should protect their business with a Retail Insurance policy package.

We’ve insured more than 1,000 retailers. Some of our clients include:

  • Retail Store Owners
  • E-Commerce Store Owners
  • Drop-Shippers
  • Manufacturers
  • Pop-Up Shops
Retail Insurance Costs

What is the cost of Retail Insurance?

For a low-risk, small-business, you can anticipate spending $450.00 annually on a basic CGL policy with a $2,000,000.00 limit.

The cost of a Retail Insurance policy package varies widely. The following factors are taken into consideration when determining the best policy options for you:

  • Years of Experience
  • Annual and Projected Gross Revenue
  • Number of Employees
  • Location and Store Size
  • Previous Insurance Claims

Getting insured is quick and easy!

If retail insurance is what you need, request a free quote now

Common scenarios where Retail Insurance is useful

pet store insurance

Problem: A customer slips on a patch of ice outside your gift shop, injuring their wrist.

Outcome: The client successfully sues you for bodily injury. Your Commercial General Liability Insurance covers the legal expenses and medical fees, totalling $48,000.

defective product insurance

Problem: Your retail shop is badly damaged following a local fire.

Outcome: Your Commercial Property Insurance covers the cost to repair your store and your Business Contents Coverage covers the cost to replace your stock, totalling $325,000.

Cyber Breach

Problem: A customer claims that a design flaw in the toy they bought on your website caused their toddler to choke.

Outcome: The customer successfully sues you and your Product Liability Insurance covers the legal fees and payout, totalling $68,000. 

Frequently Asked Questions about Retail Insurance

Is employee theft covered under Crime Insurance?

Yes, Crime Insurance is a coverage that may protect your business from employee theft including stolen cash and credit card forgery as well as loss of money and securities inside and outside of the premises. Regular theft is included under the property portion of a policy.

Does General Liability Insurance protect my inventory and stock?

No, General Liability Insurance is a coverage designed to protect you from the consequences that result from bodily injuries and property damages to third-parties. Damage to your own property is not covered by General Liability Insurance. If you wish to protect your own stock and inventory from damages, add commercial property coverage to your insurance policy.

Can I have my landlord listed as additional insured?

Yes, this is a very standard requirement. Please provide us with the legal name and mailing address and we can have this added to your formal policy documents.

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Getting business insurance shouldn’t be complicated!

At Zensurance, we simplify the process of getting insurance so that you get the coverage you need, quick and easy!

Our friendly support team is always ready to answer questions, we’re just a click or a phone call away.