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The operations of your convenience store can’t compare to the operations of grocery stores and supermarkets. Nonetheless, the exposures it faces are the same.
Employees can steal money or smuggle stocks. Vermin and equipment breakdown will contaminate and spoil perishable goods. Your employee, no matter how attentive, can’t also reduce the possibility of theft to zero. Finally, you’re a target of robbers if your grocery store is open for 24 hours.
Whether you’re starting a convenience store as a stand-alone business or opening it together with a new gas station, risks will lurk around. Convenience store insurance can help you out. Here’s a guide that will define what this is, discuss the function of the policies included, give you an idea of the premiums, and review the best companies to work with.
Convenience store insurance is an insurance program that offers general liability, commercial property, workers compensation, employee dishonesty, and other business insurance solutions. This will take care of exposures unique to:
Kiosks
Mini convenience stores
Limited-selection convenience stores
Traditional convenience stores
Expanded convenience stores
By the way, if ever you become ineligible for convenience store insurance, a good alternative coverage option is retail insurance.
A few insurance companies include gas station activities in their convenience store business insurance program while others don’t. That said, coverage depends on who you work with. If ever your chosen insurance company isn’t very lenient, you can cover gas station activities through gas station insurance.
| CoverWallet | NEXT (Best) | Thimble | FLIP | Hiscox | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $500,000$2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $500,000/$2,000000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$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 | $100,000 |
| Waiver of subrogation included? | Yes | No | Included | Excluded | Can be included |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Excluded | Can be included |
| Food-borne illness endorsement included? | No | Yes | Yes | Yes | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | No | Yes |
| Name additional insureds? | Yes | Yes | Yes | No | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
Claims for bodily injuries and property damage is one of the most common and costly exposures when running a convenience store. For example, there was this case where a convenience store had to pay $427,000 in damages for a trip and stumble accident.
General liability insurance takes care of medical treatments, refunds, legal expenses, and court judgments if customers and other third parties file a claim for bodily injuries or property damage. This is an insurance that never goes missing in c store insurance bundles, regardless of which company you work with.
Use the table above to see which insurance company offers the best general liability insurance for convenience stores.
Here are some examples of convenience store insurance claims that general liability insurance can sort out:
A customer trips on a box and sustains injuries
Your convenience store’s charging station damages a customer’s phone
A customer gets crushed while trying to take something from your convenience store’s shelving
A customer slips on the floor of your convenience store
General liability insurance will offer a $1 million-$2 million per occurrence and aggregate limit. This business insurance for convenience stores can offer higher limits if you have a huge amount of annual revenue.
Insurance companies may include all or only one of these add-ons in their general liability policy for convenience stores:
Rented premises liability coverage-Covers the property damage claim of the landlord if you’re renting a building for your convenience store and this gets damaged because of fire or water
Advertising injury coverage-Pays the legal defense and court judgments if you’re convenience store is accused of copyright infringement, libel, slander, and other related offenses
Hired/non-owned auto liability coverage-Covers the cost of accidents caused by a vehicle that you’re convenience store hired
Foodborne illness coverage-This allows your general liability insurance to cover food poisoning claims
Your convenience store might be selling liquor for extra income. But when doing this, you must know that anything that happens to an intoxicated customer can be your responsibility. And so, it’s smart to include a liquor liability policy.
Liquor liability insurance is the convenience store insurance coverage that will cover medical treatments, reimbursements for property damage, legal expenses, and court judgments if the following happens:
A customer buys beer, wine or any other drink from a liquor store. He gets drunk, falls from the ledge, and sustains injuries
The drunk customer drives home, gets involved in an accident, and is holding your convenience store liable
A customer is accusing your convenience store of overserving him or her alcohol
Your convenience store can get liquor liability insurance as a stand-alone policy. But note that, there might also be instances where you can only purchase this policy as an optional add-on to general liability insurance.
If it purchases coverage online, then your liquor store can have a $300,000-$2 million liquor liability insurance. If you work with insurance companies that only grant a quote through agents, then the amount of liquor liability coverage available will depend on your convenience store’s alcohol sales.
Product liability insurance will help cover medical treatments, legal defense expenses, and court judgments if a client files a claim after experiencing food poisoning, allergies, or foodborne illness caused by the food and beverage sold in your liquor store. This is automatically offered as an automatic add-on to general liability insurance.
Yes. Labeling error is an exposure included in the terms of product liability insurance. And so, your convenience store will receive coverage if it’s accused of selling products with no warnings, has labeling errors, has incorrect packaging, or has manufacturing defects.
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | Hiscox | |
|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $730,0000 | $25,000/$500,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $67,000 | $25,000/$500,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded |
How do you own the building of your convenience store? Are you the owner or just a tenant? Either way, you’ve invested a lot in your convenience store’s commercial building. That said, it’s smart to have a commercial property policy.
Don’t think twice about investing in this insurance because store fires are common.
This can be caused by faulty electrical wiring, arsonists, and defective equipment. Use the table above to see which insurance company offers the best commercial property insurance for convenience stores.
You use commercial property insurance to recover some or all of the investments for building construction or remodeling after your convenience store’s physical space succumbs to:
Fire
Theft
Vandalism
Riot
Civil commotion
Sinkhole collapse
Volcanic action
Lightning
Weather
Aircraft
Vehicle
Falling objects
Impact
Sprinkler leakage
Yes. Commercial property insurance is underwritten to not only protect your convenience store’s building but also what’s inside. And so, you’ll get a reimbursement equal to the estimated actual cash value or replacement cost of all equipment that got damaged or destroyed because of fire, theft, vandalism, and other covered perils.
Definitely not. The vending machine, though placed in your convenience store, is considered a third-party property. Commercial property insurance doesn’t cover the properties of others in your custody due to its CCC exclusion. And so, coverage won’t apply to the vending machine if a covered peril happens.
| CoverWallet | NEXT (Best) | Hiscox | Thimble | |
|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $500,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $730,000 | $25,000 | $25,000/$500,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes |
This is a type of convenience shop insurance that fuses general liability insurance and commercial property insurance. Use the table above to see which company offers the best business owner’s policy for convenience stores.
Purchasing a business owner’s policy is the better choice because its premiums are 5%-10% lower than when you buy general liability and commercial property insurance as stand-alone policies.
| NEXT | Thimble | FLIP (Best) | Hiscox | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $10,000 | $15,000/$25,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | $50,000 | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Commercial property insurance covers business equipment but not comprehensively. This is why it’s good to get an extra layer of protection for your convenience store’s microwave oven, popcorn machine, POS machine, hot dog equipment, etc.
This extra layer of coverage comes in the form of tools and equipment insurance. Use the table above to see which insurance company offers the best tools and equipment insurance for convenience stores.
Tools and equipment insurance will recover financial losses if convenience store equipment gets damaged or lost because of:
Fire
Theft
Vandalism
Operator error
Electrical surge
Electrical breakdown
Upset
Mechanical breakdown
Tools and equipment insurance, when availed as an optional add-on to a general liability policy, provides $3,000-$25,000 coverage for your convenience store’s business equipment insurance. You can also avail this as a stand-alone coverage with limits reaching up to $10 million-$25 million.
Insurance companies will ask if your convenience store has one or more part-time employees. And if you attest that this is the case, they will recommend adding a worker’s compensation policy to your convenience store business insurance package.
Workers’ compensation insurance helps your convenience store provide state-mandated work benefits if an employee sustains a work-related injury or disease. Costs that this insurance usually covers are:
Medical treatment
Hospitalization
Medication
Rehabilitation
Retraining
Lost wages
Death benefits
An employee getting attacked during a robbery incident in your convenience store still counts as a work-related accident, provided that this happened during his or her shift. Given such circumstances, workers’ compensation insurance will provide coverage.
Typically, workers’ compensation insurance only covers part-time and full-time employees by default. But note that insurance companies allow you to name yourself as an additional insured. And if you did so, then workers’ compensation insurance will cover unexpected costs if you experienced a work-related accident in your convenience store.
Employee dishonesty insurance is as important as workers’ compensation insurance when you hire people to mind your convenience store.
Employees might commit dishonest acts while they’re in charge and you’re not watching. This will result in financial losses that employee dishonesty insurance functions to reimburse.
Employee dishonesty insurance will kick in if an employee commits any of the following dishonest acts against your convenience store :
Theft
Social engineering
Credit card fraud
Embezzlement
Fraudulent refunds
Forgery and alteration
A $10,000-$15,000 employee dishonesty insurance may be automatically offered as an add-on to commercial property insurance.
Food spoilage and contamination insurance is an endorsement to commercial property insurance. This will reimburse the value of stocks if spoilage or contamination occurs due to:
Prolonged power interruption
Equipment breakdown
Vermin
Employee error
Insurance companies design their food spoilage and contamination insurance differently from one another.
Some allow the policy to cover product recall and the cleanup of contaminated equipment. Others even design their food spoilage insurance to cover medical treatments and legal expenses if a customer accidentally bought a spoiled or contaminated product from your convenience store.
Excess liability insurance grants an additional limit to the existing limits of your convenience store’s general liability policy. For example, if a $2 million bodily injury claim is filed and your general liability insurance adds $1 million, excess liability insurance grants an additional $1 million worth of coverage so that the claim can be fully covered.
Business interruption insurance covers operational costs and supplements some lost income if your convenience store needs to renovate, relocate, or close because of weather, economic crisis, and other covered perils. You can avail this as an add-on to commercial property insurance.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $36 | $432 | $0-$500 |
| Liquor liability insurance | $50 | $600 | $500-$1,000 |
| Excess liability insurance | $39 | $468 | $500-$1,000 |
| Commercial property insurance | $60 | $720 | $1,000-$2,500 |
| Business owner’s policy | $90 | $1,080 | $500-$1,000 |
| Workers compensation insurance | $112 | $1,344 | $2,000-$5,000 |
| Employee dishonesty insurance | $80 | $960 | $1,000 |
| Tools and equipment insurance | Depends on the estimated value of the equipment to be insured | Depends on the estimated value of the equipment to be insured | $500-$1,500 |
The average convenience store insurance cost is $36 per month or $432 per year for a $1 million general liability policy.
Insurance companies determine the cost of premiums based on deductibles, claims history, business history, annual revenues, type of policy purchased, number of employees, and location.
Here’s another table that shows the cost of the $1 million general liability policy from companies that sells cheap convenience store insurance:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for convenience stores |
| FLIP | $25.92 | $311.04 | Convenience store insurance that automatically offers liquor liability and general liability insurance as a bundle |
| CoverWallet | $29 | $348 | Convenience store insurance online quotes comparison |
| Tivly® | $30 | $360 | Comparing convenience store insurance quotes over the phone |
| Thimble | $33 | $396 | On-demand coverage for convenience stores |
| Hiscox | $34 | $408 | Convenience store insurance that automatically renews every year |
Get all the best quotes from leading providers in a click of a button!
The majority of insurance companies include convenience stores in their underwriting appetite. However, only a few can offer the coverage that you really need. Here are some reviews of the best convenience store 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 convenience stores
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 general liability, commercial property, tools and equipment, and workers compensation. This convenience store insurance company recommends you bundle all into a business owner’s policy in order to enjoy a 10% discount. Here’s a quick summary of the limits of your convenience store insurance from NEXT:
$500,000-$2 million general liability insurance
$1 million general liability insurance
Commercial property insurance with a $730,000 building coverage and $67,000 contents coverage
$3,000-$10,000 tools and equipment insurance
Workers compensation insurance
Best for: Best overall; Fastest general liability insurance for convenience stores
Average cost: $25 per month
Our rating: 10/10
Compare convenience store insurance quotes online
Chat live with a representative while purchasing your coverage
Easy online policy management
Waiver of subrogation and terrorism coverage included in general liability insurance
Not an insurance company but an insurance broker
CoverWallet is an insurance broker that allows you to compare the quotes of many insurance companies that cover convenience stores. All you have to do is provide some basic information to its online quotes comparison platform.
Aside from comparing quotes, CoverWallet allows you to purchase a chosen coverage online or with the help of an insurance agent. You can even take a look at the estimated premiums of your policy.
These are the policies you can avail from CoverWallet:
$1 million-$2 million general liability insurance
$1 million liquor liability insurance
Business owner’s policy with a $1 million general liability coverage and $50,000 commercial property insurance
Workers compensation insurance
Excess liability insurance
Best for: Convenience store insurance online quotes comparison
Average cost: $29 per month
Our rating: 10/10
Compare convenience store insurance quotes over the phone
Responsive customer service
A partner of many reputable insurance companies
Grants coverage regardless of your business profile
You need to call to get a quote
Tivly®’s convenience store insurance program offers general liability, commercial property, workers compensation, excess liability, and liquor liability insurance. You need to call and speak with a representative to know the specific policy limits and compare quotes over the phone.
Best for: Comparing convenience store insurance quotes over the phone
Average cost: $30 per month
Our rating: 10/10
On-demand coverage
Offers numerous add-ons
Easily name additional insureds in your policy
Quick to issue an estimate of your rates
You can’t reach customer service by calling
Thimble covers convenience stores through its retail insurance package. This offers the following policies:
Business owner’s policy with a $1 million-$2 million general liability coverage and $500,000 commercial property coverage
$1 million-$2 million general liability insurance
Workers compensation insurance
What makes Thimble good is that it offers add-ons to its general liability policy and business owner’s policy. This company’s general liability insurance can be added with business equipment coverage and customer property coverage.
On the other hand, a hired/non-owned auto liability coverage can be added to the business owner’s policy.
Out of all the companies we recommend for the best convenience store insurance programs, Thimble is the only one that has a short-term general liability policy by the hour, day, week, or month.
Best for: On-demand coverage for convenience stores
Average cost: $33 per month
Our rating: 9/10
Automatic policy renewal
Worldwide coverage
5% business owner’s policy discount
Fast to process claims
Online claims resources
Sells the short-term general liability insurance of Thimble
Doesn’t sell commercial property insurance as a stand-alone policy
Hiscox doesn’t have a convenience store insurance package. However, you can get covered by choosing the “other store (with food and drinks)” drop down option in its online quotes generator. Policies you can avail from Hiscox are:
$300,000-$2 million general liability insurance
Business owner’s policy
Only two policies are offered and Hiscox makes up for this by ensuring that you can avail upgrades from your general liability or business owner’s policy, such as tools and equipment insurance, waiver of subrogation, and non-owned auto liability coverage.
Best for: Convenience store insurance that automatically renews every year
Average cost: $34 per month
Our rating: 9/10
Liquor liability and general liability insurance bundled
Caters to the unique needs of businesses involved with selling food
High limits on tools and equipment insurance
Will not provide coverage if your convenience store sells CBD products
FLIP is a good option if your convenience store has just started. The insurance policies of this company are underwritten for businesses whose annual revenue doesn’t exceed $500,000. FLIP can still grant protection if your convenience store earns higher. However, you’ll need to buy your insurance through a representative.
Best for: Convenience store insurance that automatically offers liquor liability and general liability insurance as a bundle
Average cost: $25.92 per month
Our rating: 9/10
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Disclosure: Insuranks.com is an independent educational comparison service and an advertising-supported publisher. Some of the companies/offers that appear on the website are from our partners which we may receive compensation from. This may influence which companies/offers we write about and where and how it appears on the site. However, this does not impact our assessments. We solely highlight companies, products, and offers that can help you make smarter insurance decisions.
