Insuranks

ATM Business Insurance: Cost & Quotes From $25/mo

Table of contents
1. General Liability Insurance for ATM Businesses1.1. Coverage Limits for General Liability Insurance for ATM Businesses1.2. Add-Ons to General Liability Insurance for ATM Businesses2. Cyber Liability Insurance for ATM Businesses2.1. Coverage Limits for Cyber Liability Insurance for ATM Businesses2.2. Add-Ons for Cyber Liability Insurance for ATM Businesses3. Commercial Property Insurance for ATM Businesses3.1. Coverage Limits for Commercial Property Insurance for ATM Businesses 3.2. Add-Ons for Commercial Property Insurance for ATM Businesses4. Business Owner’s Policy for ATM Businesses4.1. Coverage Limits under This Policy4.2. Add-Ons for Business Owner’s Policy for ATM Business5. Tools and Equipment Insurance for ATM Businesses5.1. Coverage Limits for Tools and Equipment for ATM Businesses5.2. Add-Ons for Tools and Equipment Insurance for ATM Businesses6. Commercial Auto Insurance for ATM Businesses6.1. Coverage Limits for Commercial Auto Insurance for ATM Businesses6.2. Add-Ons for Commercial Auto Insurance for ATM Businesses7. Excess Liability Insurance for ATM Businesses7.1. Coverage Limits for Excess Liability Insurance for ATM Businesses8. Workers Compensation Insurance for ATM Businesses9. ATM Insurance Cost 10. Best ATM Business Insurance Companies10.1. NEXT ATM Business Insurance 10.1.1. Pros10.1.2. Cons10.2. CoverWallet ATM Business Insurance 10.2.1. Pros10.2.2. Cons10.3. The Hartford ATM Business Insurance 10.3.1. Pros10.3.2. Cons10.4. Tivly ATM Business Insurance 10.4.1. Pros10.4.2. Cons10.5. Thimble ATM Business Insurance 10.5.1. Pros10.5.2. Cons10.6. Hiscox ATM Business Insurance 10.6.1. Pros10.6.2. Cons

An ATM business can be profitable. People will always need some cash. And so, putting an ATM in a retail store, museum, or other high-traffic places can bring a stable source of side income. 

Business licenses and permits check, business bank account check, business credit card check, but is your ATM business insurance checked before you open up your ATM business? Do you know which policies will best suit your ATM businesses? Are you aware of the most convenient and cost-effective ATM insurance companies?  Here’s a guide that will answer all your question

General Liability Insurance for ATM Businesses


CoverWallet NEXT (Best)Thimble HiscoxThe Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000$300,000/$1,000,000$1,000,000/$2,000,000
Aggregate limit $2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000$300,000/$2,000,000$1,000,000/$2,000,000
Products and completed operations aggregate limit $2,000,000
$1,000,000$1,000,000$1,000,000$1,000,000
Advertising injury coverage aggregate limit $1,000,000$1,000,000$1,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit $100,000
$100,000$5,000$100,000$1,000,000
Waiver of subrogation included?YesNoIncludedCan be includedNo
Hired/non-owned auto liability coverage included?YesNoExcludedCan be includedCan be included
Equipment breakdown floater included?No YesYesCan be includedCan be included


This insurance policy protects your ATM business from the following claims serve to you by third-parties:

  • Personal and advertising injury–Libel, slander, false arrest, and copyright infringement are some of the claims covered under this atm liability insurance

  • Bodily injury and property damage liability–You are exempted from the legal liability of paying third-party liabilities to injured or affected individuals. Important to note that emotional or mental distress is also considered to be bodily injury and you can be liable to pay a third-party

  • Medical expenses–This protects you from paying the medical expenses of a non-employee who gets injured due to the use of your products or ATM services. Such medical expenses catered under this coverage include ambulance expenses, surgical interventions, and hospital visits or admissions


Coverage Limits for General Liability Insurance for ATM Businesses

Commonly, general liability insurance for ATM business will pay you approximately $1,000,000 for a single claim and $2,000,000 for all the claim notices you serve them with during the policy period, which is typically 1 year.


Add-Ons to General Liability Insurance for ATM Businesses

  • HNOA coverage–This can cover the cost of accidents caused by a vehicle you hired or borrowed to transport the ATM machines

  • Equipment coverage-This can cover the cost of replacing or repairing ATM machines that got damaged due to fire, theft, vandalism, and other covered perils


Cyber Liability Insurance for ATM Businesses

This business policy protects you from incurring expenses in the event your ATM businesses are a subject to a cyberattack leading to a data breach of your clients or employee’s information to the public. The insuring agreements under this essential ATM machine insurance are network security and privacy liability, network business interruption, media liability, and errors and omissions.


Coverage Limits for Cyber Liability Insurance for ATM Businesses

It’s usually from $1,000,000. The coverage limits under this policy depend on the size of your ATM business and the risks associated with operating it.



Add-Ons for Cyber Liability Insurance for ATM Businesses

  • Cyber extortion coverage–This add-on compensates you for any costs you might have incurred when dealing with or responding to a cyber extortion threat

  • Electronic funds transfer coverage–This add-on shields you from any financial consequence you may be subjected to in the event your clients lose their funds due to unauthorized electronic funds transfers made at your ATMs

  • Business interruption coverage–When you purchase this add-on you become eligible to be compensated for the loss of income in the event you are unable to operate your ATM businesses due to a cyberattack

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Commercial Property Insurance for ATM Businesses


CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
Building coverage limit (minimum)$50,000$330,000$25,000/$500,000$60,000$25,000
Contents coverage limit (minimum)$50,000$35,000$25,000/$500,000$60,000$15,000
Outdoor signsExcluded$2,500ExcludedExcludedIncluded
Accounts receivableExcludedExcluded$5,000/$10,000ExcludedIncluded
Money and securitiesExcluded$2,500$1,000ExcludedIncluded
Lock and keysExcluded$2,500ExcludedExcludedIncluded
Business interruption floaterExcludedIncludedIncludedExcludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedExcludedIncluded
Inland marine insurance floaterExcludedExcluded$10,000ExcludedExcluded
Employee dishonesty floaterExcluded$5,000$2,500ExcludedExcluded


This is an ATM business insurance that protects your business assets which are your rented or owned commercial buildings, inventory, and related business structures such as garages, signages, office equipment, and furniture from losses caused by fire, vandalism, and theft. In the event your business assets are damaged by any of the insured perils, you are protected from incurring the costs of replacing or repairing them.

Just like any other policy, commercial property insurance for ATM businesses also has some coverage exclusions which are: damages resulting from floods, earthquakes, pests and insect infestations and acts of terrorism.



Coverage Limits for Commercial Property Insurance for ATM Businesses

How much an insurer will pay you in the event you issue them with a commercial property insurance claim notice will depend on the specific needs and risks associated with the running of your ATM business. However, you should expect to receive a sum of $300,000 to $1,000,000 as compensation.


Add-Ons for Commercial Property Insurance for ATM Businesses

  • Equipment breakdown insurance–This add-on protects you from incurring the costs of repairing or replacing your ATM machines in the event they stop functioning due to mechanical or electrical malfunctions

  • Crime coverage–This confers you with the immunity of footing the costs of repairing and replacing any damages on your ATMs or commercial building resulting from acts of crimes such as theft

  • Business interruption insurance–This add-on helps you regain your lost income in the event you are unable to keep your ATM businesses running due to the occurrence of an insured peril


Business Owner’s Policy for ATM Businesses


CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
General liability aggregate limit$2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000$300,000/$2,000,000
Commercial property coverage limit$50,000$330,000$25,000/$500,000$75,000$75,000
Optional policies can be added?YesYesYesYesYes
Name additional insureds for free?YesYesYesYesYes
BOP discount?YesYesYesYesYes


This business insurance merges ATM liability insurance, commercial property insurance, and business interruption insurance into one comprehensive and extensive policy. After purchasing this critically important ATM insurance, you are protected from incurring any costs arising from lawsuits, repairing and replacing damaged properties, loss of income due to business interruption, and paying up third-party medical expenses.


Coverage Limits under This Policy

Most insurers' coverage limit for the business owner’s policy ranges between $500,000 to $2,000,000. This limit is dependent on the exclusion and deductions as stated in the policy and the insurance company you purchase your BOP for ATM businesses.


Add-Ons for Business Owner’s Policy for ATM Business

  • Money insurance coverage–This add-on provides coverage for the cash inside your ATM(s) in the event it's stolen or vandalized following an act of crime

  • Cyber liability coverage–This add-on protects you from financial consequences arising from a cyberattack on your ATM business

  • Equipment breakdown coverage–This add-on helps compensate you for any losses caused by a mechanical or electrical malfunction of your ATM machines or any other equipment you used in running your business




Tools and Equipment Insurance for ATM Businesses


NEXTThimbleHiscoxThe Hartford
Aggregate limit$3,000/$10,000$2,500/$5,000$15,000/$25,000$5,000-$10,000
Covers hired and borrowed equipment?$3,000/$10,000$2,500/$5,000NoYes
Miscellaneous equipment also covered?$5,000/$10,000NoYesYes
Offered as an endorsement to general liability insurance?YesYesYesYes
Deductible$500$500$0$0


It’s also referred to as equipment insurance for ATM businesses. This is an ATM insurance policy that is designed to protect you from incurring the costs of replacing and repairing the tools and equipment you use in the running of your business in the event they get stolen, lost, or accidentally damaged while in transit or when they are being used.


Coverage Limits for Tools and Equipment for ATM Businesses

The coverage limit under this policy is directly dependent on the type of tool and equipment being insured, its total value, and the risks involved.


Add-Ons for Tools and Equipment Insurance for ATM Businesses

  • Transit coverage–This is an essential add-on to your business as it provides you with coverage in the event your ATMs or any other machines or equipment get damaged or lost during their transportation

  • Flood coverage–Its vital that you purchase this add-on if your ATM businesses are located in areas or states that are prone to floods as it protects you from any financial losses


Commercial Auto Insurance for ATM Businesses

This policy protects you from paying up medical expenses (for yourself and the passengers in the damaged vehicle) and repairing damaged property following an accident caused by your business car while performing business activities.

It also helps you offset any costs of repairing your vehicle in the event it’s damaged by fire, vandalism or after it has collided with another object or with an uninsured motorist.

If you own vehicles that transport employees or carry tools and equipment that are used to run your ATM business then it's advisable that you purchase this ATM insurance policy.


Coverage Limits for Commercial Auto Insurance for ATM Businesses

The coverage limits under this policy vary among different insurers. It is also determined by the exclusions and deductions as defined in this policy. Typically, your insurer will pay you approximately $100,000 to $1,000,000 for bodily injuries liabilities and $50,000 to $1,000,000 for property damage liability



Add-Ons for Commercial Auto Insurance for ATM Businesses

  • Hired auto coverage–This add-on protects you from paying up the costs of repairing or replacing a hired or leased vehicle that has been damaged during the operations of your ATM businesses

  • Medical payments coverage–This commercial auto insurance add-on protects you from incurring medical expenses or costs to passengers who get injured by your insured vehicle that was being used to conduct your ATM businesses operations


Excess Liability Insurance for ATM Businesses

This is an insurance policy designed to help you offset any costs resulting from insured claims in the event your underlying liability limits from your other primary insurance policies become exhausted.

For instance, if your commercial vehicle has been involved in a car accident and the available coverage limit is $5,000,000 and you are sued for $7,000,000, your excess liability insurance will help you offset the $2,000,000 deficit that’s not covered by your commercial auto insurance for ATM businesses.


Coverage Limits for Excess Liability Insurance for ATM Businesses

It ranges between $1,000,000 to $10,000,000. This coverage limit is determined by the number of ATMs you own, the risks associated with the use of the insured ATMs, and the size of your ATM business.


Workers Compensation Insurance for ATM Businesses

This ATM insurance policy protects you from paying lost wages, medical expenses, ongoing care expenses, and death benefits to your employees in the event they get work-related injuries or sicknesses. Your employees will be paid regardless of who is at fault. Most states mandate that employers purchase this policy.

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ATM Insurance Cost 


Cost per MonthCost per YearBest for
General liability insurance$50$600$0-$500
Cyber liability insurance$55$660$500-$1,000
Excess liability insurance$62$744$500-$1,000
Commercial property insurance$80$960$1,000-$2,000
Business owner's policy$130$1,560$500-$1,000
Workers compensation insurance$145$1,740$500-$1,000
Tools and equipment insurance$56$672$500-$1,000
Commercial auto insurance$82$984$500-$1,000


The average ATM insurance cost is $50 per month or $600 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are claims history, business history, deductibles, policy limits, and revenues. Below is a summarized table outlining the cost  of a $1 million coverage from the best ATM liability insurance companies:

  


Cost per MonthCost per YearBest for
NEXT$26$312Best overall; Fastest general liability insurance for ATM businesses
CoverWallet$29$348Comparing ATM business insurance quotes online
The Hartford$31$372Fast claims process
Tivly$34$408Comparing ATM machine insurance quotes over the phone
Thimble$36$432Temporary or short-term ATM business insurance
Hiscox$39$468ATM businesses owners who have high-value machines and other work-related assets

Compare Cheap ATM Business Insurance Quotes Online

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Best ATM Business Insurance Companies

Here are some of the best ATM business insurance companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance. 


NEXT ATM Business Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for ATM businesses

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies

Cons

  • Couldn’t find any

AM Best has rated NEXT as an A- insurance company. This digitally operated and managed insurance provider sells its bundled insurance policies at a 10% discount. Some of the ATM insurance policies that it underwrites to its policyholders are: commercial auto insurance, general liability insurance, commercial property insurance, and workers compensation insurance.

Best for: Best overall; Fastest general liability insurance for ATM businesses

Average cost: $26 per month 

Our rating: 10/10


CoverWallet ATM Business Insurance

Pros

  • You can apply for FREE quotes any day of the week

  • Its licensed insurance advisers can provide you with solid ATM insurance advise

  • It’s possible to purchase and manage your policies digitally

Cons

  • It’s yet to underwrite its insurance policy

CoverWallet is a digital insurance broker that helps ATM business owners to purchase and manage all their insurance coverages under one location. This B rated fast-thinking insurer has partnered with over 29 insurers to provide its clientele with the following ATM policies: Cyber liability insurance, commercial auto insurance, workers’ comp insurance, commercial property insurance and general liability insurance.

Best for: Comparing ATM business insurance quotes online 

Average cost: $29 per month 

Our rating: 10/10


The Hartford ATM Business Insurance

Pros

  • Excellent customer service

  • It also provides financial services to its clientele

  •  It has a mobile app that you can use for claims reporting

Cons

  • It’s not the best commercial auto insurance company

This 200-year-old insurance company not only deals with insurance policies but it also provides financial services to its clientele. The Hartford provides its easy to apply and claim insurance polices to all the 50 states of the USA. Some of the ATM insurance policies this A+ AM Best and BBB rated insurance company sells are; Commercial auto insurance, workers comp insurance and commercial property insurance.

Best for: Fast claims process

Average cost: $31 per month

Our rating: 10/10


Tivly ATM Business Insurance

Pros

  • Fast and efficient quotation process

  • Deals with multiple ATM insurance policies

  •  Ideal for matching you with ATM insurance policies that suit your needs

Cons

  • Up to date its yet to develop a mobile app

Tivly has been rated as an A+ insurance agency by the AM Best. This premium insurance company helps ATM businesses owners find the best ATM insurance policies that suit their needs in a cost-effective and time saving manner. General liability insurance, commercial auto insurance, business owners policy and workers comp insurance are some of the insurance coverages Tivly provides to its clientele. Call now to compare quotes over the phone. 

Best for: Comparing ATM machine insurance quotes over the phone

Average cost: $34 per month

Our rating: 9/10


Thimble ATM Business Insurance

Pros

  • You can purchase short-term ATM insurance policies at an affordable price

  • You can purchase Thimble policies online

  • It provides you with speedy insurance quotations

Cons

  • You can’t reach customer service by calling

Thimble is an A rated insurance agent that doesn’t underwrite its policies. It’s backed up by the Markel insurance company. Some of the ATM insurance policies it deals with are tools and equipment insurance, commercial property insurance, general liability insurance, workers comp insurance and business owners policy.

Best for: Temporary or short-term ATM business insurance

Average cost: $36 per month 

Our rating: 8/10


Hiscox ATM Business Insurance

Pros

  • You can use a mobile app to report insurance claims

  • You can buy your ATM insurance policies at a discount

  • Its website is simple to use

Cons

  •  It has yet to provide its coverage to Alaska

Hiscox is an A+ rated insurance company that was established in 1901. Some of the ATM insurance policy this financially stable and independent insurance company sells are geeneral liability insurance, workers comp insurance, business owner’s policy, and commercial auto liability. 

Best for: ATM businesses owners who have high-value machines and other work-related assets

Average cost: $39 per month 

Our rating: 8/10


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