Carpet improves the look of the interior where it’s placed. It also helps to keep the room warm. There are many types of carpets, and carpet shops ensure that consumers find what they need. Insurance isn’t a requirement when running a business. However, no carpet business got harmed by getting insured.
The carpet you’re selling might accumulate dust and trigger the asthma of a customer. In case you install carpets aside from selling, then it’s possible for the customer to file a claim after discovering that the installed carpet has ripples or buckles. Insurance can also help if a carpet cleaning contractor you hired to tidy your shop experiences a work-related accident.
Carpet shop insurance is a must for any new or established carpeting company. Understanding coverage options and shopping with multiple companies will make sure your carpet store insurance offers the best coverage for the best price.
For the business owner, maintaining financial solvency is everything. When a loss occurs, it can bankrupt a company or prevent them from executing planned growth strategies.
Carpet businesses with good insurance coverage don't have to put things on hold during adverse events because they don't suffer the financial loss. In other words, insurance helps to keep business operations running as if trouble didn’t happen.
At a minimum, every business should have a commercial liability policy to lessen the financial repercussions of a lawsuit. Carpet shop liability insurance comes in the form of a professional liability policy, general liability policy, and product liability policy.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The 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? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | No |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | No |
A carpet store insurance package offers a general liability policy as a primary coverage. General liability insurance covers the following exposures:
Bodily injury liability-General liability insurance covers physical injuries to a person as a result of business operations or accidents. Costs covered are medical treatment, legal defense, and court judgments
Property damage liability-General liability insurance can help if a customer has his or her property damaged or lost while in the premises of your business. Costs covered are refunds, legal defense, and court judgments
Advertising and personal injury liability-General liability insurance cover injuries suffered to one's reputation or intellectual property as a result of your actions. These claims can involve subjects like slander, libel, and privacy violations
You can use general liability insurance if these things happen in your carpet store:
A customer slips and falls on the wet floor
A heavy carpet falls from the display rack and hits a shopper on the head
Your employee accidentally cuts a customer while cutting the carpet down to the exact dimensions preferred
Used carpets can be infested with bugs and parasites, which may cause sickness. The thing is, illnesses contracted from a product you’re selling fall out of the scope of general liability insurance. Therefore, coverage can’t apply in such a case.
| CoverWallet (Best) | NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
Add a professional liability policy to your carpet shop insurance package if you don't only sell but also install carpets. Professional liability insurance grants protection if a customer files a claim for negligence, inaccurate advice, misrepresentation, or missed deadlines. Use the table above to see which insurance company offers the best professional liability insurance for carpet shops.
You can use professional liability insurance if the following happens and gives the client a reason to file a claim:
Your client ordered a carpet and requested an installation. Your employees lost the carpet or damaged it during the trip
Your employees demanded further commission. The client complained about paying exorbitant rates
Your employee lied about the information about a particular carpet to make a sale
The client demands reimbursement and filed a claim because the installed carpet wasn’t stretched well or developed tears
Hand-woven Persian carpets are illegal in the USA. In case you mistakenly sell this kind of carpet and authorities find out, can professional liability insurance help? Coverage can’t apply. This is because the sale of illegal goods is an exposure not usually included in the terms of professional liability insurance.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $50,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $15,000 | $50,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Included | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Included | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Included | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Aside from lawsuits, another large cost a carpet shop incurs is property damage. This is the breakage or loss of inventory, equipment, or facilities. You can avoid incurring a lot of losses by purchasing commercial property insurance. Use the table above to see which insurance company offers the best commercial property insurance for carpet shops.
Commercial property insurance will allow you to recover financial losses if the following happens:
Thieves broke into your carpet shop’s storefront and managed to get inside to steal cash, some carpets on display, and other valuables
A structural fire happened. Your carpet shop and its contents were completely obliterated
A car crashed into your carpet shop and caused some major damage to the front of your carpet shop and the items on display
Your carpet shop’s sprinkler system malfunctioned. The resulting spray of water damaged some electronic equipment and carpets on display
No. Commercial property insurance doesn’t cover the damage to inventory that’s caused by vermin or bugs. However, there might be an endorsement that allows you to cover this gap. That said, consider talking with a representative before purchasing the commercial property policy for your business.
No. Commercial property insurance has a care, control, and custody exclusion. Therefore, this policy won’t help recover the value of the carpets that you’re about to patch and return to customers in case fire, theft, vandalism, and other exposures happen.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability 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 |
| Commercial property coverage limit | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $50,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
Liability and property insurance for small businesses can be unnecessarily complicated, which is why many insurance companies offer business owners policies (BOPs). These policies combine all needed business insurance into one convenient package that’s offered at a discounted price. BOPs make insurance easier for small, mom-and-pop carpet companies that don't need the hassle of multiple policies and unclear coverage. Use the table above to see which insurance company offers the best business owner’s policy for carpet shops.
| NEXT | Thimble | Hiscox | |
|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 |
Your carpet business needs to use a blower and a cleaning machine to keep carpet displays in pristine condition. Of course, there’s an AC unit you use to control the temperature of your store. Computers are also integral for keeping tabs of sales.
You can protect these valuables against theft, electrical surge, operator error, impact damage, and other related perils by purchasing tools and equipment insurance. This policy kicks in to cover repair or replacement expenses. Use the table above to see which insurance company offers the best tools and equipment insurance for carpet shops.
You need three or more people to successfully run a carpet business. As an employer, it’s your responsibility to cover costs if employees sustain an injury or illness because of work. You can shift this responsibility to the insurance company by purchasing Workers' compensation insurance.
Workers' compensation insurance covers the cost for emergency care, hospitalization, medication, rehabilitation, retraining, lost wages, and death benefits if an employee suffers from a work-related injury or disease. The failure to get workers comp is punishable by law.
Workers' compensation insurance will help your carpet shop if the following happens:
An employee sustains muscle injuries while lifting carpets and other stocks
Your employee develops asthma and other illnesses or allergies due to continued exposure to carpets
An employee gets shot during a robbery attempt in your carpet shop
The employee falls from a height while placing carpets on the topmost part of your shop’s display racks
Your business will need to have a commercial auto policy in its carpet shop insurance package if a leased, owned, or loaned vehicle is used to deliver products or haul supplies. The bullet below shows what this policy can do:
Cover the medical treatment of third parties if your carpet shop’s commercial auto causes an accident
Cover the repair of your commercial vehicle if its parts sustains damage or gets destroyed due to fire, theft, vandalism, and other covered perils
Cover the medical treatment of your commercial vehicle’s driver if he or she gets involved in an accident caused by an uninsured/underinsured driver
It’s okay not to have these policies. However, further investing in them results in more comprehensive protection against perils:
Business interruption insurance-Temporary and unexpected suspension of business operations will result in a lot of losses. Allowing you to evade this exposure is business interruption insurance. Business interruption insurance will cover employee wages, utility bills, mortgage, loans, commercial lease, and other operational costs if your carpet shop needs to relocate, renovate, restructure, or wait for an economic crisis to pass
Employer’s liability insurance-Employer’s liability insurance will cover the cost for legal defense and court judgments if an employee sues for negligence following a work-related injury or disease
Employee dishonesty insurance-Dishonest employees are common in a carpet business. This is why you need protection against them. Employee dishonesty insurance will cover losses and investigation costs if an employee commits theft, forgery, embezzlement, credit card fraud, social engineering, and other related offenses against your carpet shop
Cyber liability insurance-This protects you from the resulting costs of phishing, malware, ransomware, and other cyber attacks. Specifically, this insurance will pay for professional services, credit and fraud monitoring, legal defense, and public relations
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $46 | $552 | $0-$500 |
| Professional liability insurance | $70 | $840 | $500-$1,000 |
| Commercial property insurance | $50 | $600 | $1,000-$2,000 |
| Business owner's policy | $90 | $1,080 | $1,500 |
| Commercial auto insurance | $60 | $720 | $500-$1,000 |
| Workers compensation insurance | $100 | $1,200 | $1,000-$2,500 |
| Cyber liability insurance | $95 | $1,140 | $1,000-$2,500 |
The average carpet store insurance cost is $46 per month or $552 per year for a $1 million general liability policy. Factors that affect the cost of premiums are:
Number of employees
Business experience
Annual revenue
Location
Claims history
Policy limits
Deductibles
In connection, here’s another table that shows the cost of a $1 million general liability policy from the best carpet shop insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $27 | $324 | Best overall; Fastest general liability insurance for carpet shops |
| CoverWallet | $35 | $420 | Comparing carpet shop insurance quotes online |
| The Hartford | $37 | $444 | Workers compensation insurance for carpet shops |
| Tivly | $40 | $480 | Comparing carpet shop insurance quotes over the phone |
| Thimble | $42 | $504 | On-demand coverage for carpet shops |
| Hiscox | $44 | $528 | Carpet shop insurance with automatic renewal |
Your business will have unique needs, which is why it is important to include as many details as possible about your business in your insurance application. Too often, vague disclosures have resulted in unpaid claims due to non-covered entities or non-covered hazards.
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Only strive to work with the best insurance company. Don’t quickly jump on catchy advertorials and strikingly cheap rates. Here are some reviews of the best carpet shop insurance companies. Read to know their pros, cons, and cost of a $1 million general liability policy.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for carpet shops
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT offers the quickest general liability coverage of all the companies we looked at. It achieves this feat by creating pre-made insurance plans; namely, basic, premiere, and deluxe. Here are the features of the policies you can avail from NEXT:
$1 million-$2 million general liability insurance
$1 million professional liability insurance
$260,000 commercial property insurance
Workers compensation insurance
Commercial auto insurance
Business owner’s policy
Note that NEXT doesn’t have a carpet shop insurance package. Instead, you get covered through this company’s retail insurance program. Once you’re insured, NEXT creates an online account you can use to view policy limits and get a certificate of insurance.
Best for: Best overall; Fastest general liability insurance for carpet shops
Average cost: $27 per month
Our rating: 10/10
Compare carpet shop insurance quotes online
General liability and professional liability can be added with a waiver of subrogation
Cancel your coverage anytime
Not an insurance company but an insurance broker
CoverWallet is an insurance broker that allows you to compare the carpet shop insurance package of carriers online with a click of a button. You can also purchase a coverage immediately too. Policies you can avail from this company are:
$1 million–$2 million general liability insurance
$2 million professional liability insurance
$50,000 commercial property insurance
Workers compensation insurance
Commercial auto insurance
Business owner’s policy
CoverWallet gives you access to its MyCoverWallet dashboard. You can use this to manage your coverage without contacting the insurance company where your policies came from.
Best for: Comparing carpet shop insurance quotes online
Average cost: $35 per month
Our rating: 10/10
Employer’s liability coverage can be added as a stand-alone policy to your insurance package
Number 2 best company for workers compensation insurance
Offers specialized coverage such as political risk insurance
Refers you to Tivly
The Hartford boasts 200 years of experience in underwriting insurance for homeowners, car owners, and business owners. It serves more than 1 million businesses and ranks number 2 as the best company for workers compensation insurance based on direct written premiums. Insurance can be bought through The Hartford’s website, its agents, or its partners. Coverage is available for carpet shops. However, The Hartford will refer you to its partner, Tivly.
Best for: Workers' compensation insurance for carpet shops
Average cost: $37 per month
Our rating: 10/10
Compare carpet shop insurance quotes over the phone
Responsive customer service
A partner of many reputable insurance companies
You need to call to get a quote
Tivly can connect you to insurance companies that are certain to grant coverage if you’re having trouble looking for an insurer for your carpet business. You need to call a Tivly representative to compare quotes over the phone and start the insurance process. This company is a known partner of NEXT, The Hartford, and Thimble.
Best for: Comparing carpet shop insurance quotes over the phone
Average cost: $40 per month
Our rating: 10/10
Issues a quote without a lot of questions
Quickly issues an estimate of your rates
General liability insurance is available as a short term coverage
You can’t reach customer service by calling
Many like Thimble because it grants coverage without asking a lot of questions. That said, work with this insurance company if you need on-demand coverage. While it doesn’t have a carpet shop insurance package, Thimble covers carpet cleaners. And so, consider talking with a representative online as there might be a way for you to get covered. Policies you can get from this company are:
$1 million-$2 million general liability insurance
$1 million-$2 million professional liability insurance
Business owner’s policy
Workers compensation insurance
Best for: On-demand coverage for carpet shops
Average cost: $42 per month
Our rating: 9/10
Easy to customize limits
Has insured more than 500,000 small businesses
Policy bundle discounts
Automatic policy renewal
Worldwide coverage
Online quoting might not be available sometimes
Hiscox insures your business through its retail insurance program and carpet shop insurance program. Policies offered are general liability, business owner’s policy, and cyber liability insurance.
You can get a quote online. But if the company website is under maintenance, then agents will be the ones to help you get insured. This company is a good option because your policy automatically renews every year. Moreover, you’re allowed to customize limits before purchasing coverage.
Best for: Carpet shop insurance with automatic renewal
Average cost: $44 per month
Our rating: 9/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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