A furniture store is a retail business, and it can get covered through a retail insurance plan. However, furniture store insurance provides the best protection. Our guide will discuss the policies included, how much you’ll pay for premiums, which companies to approach for the best coverage, and other relevant topics.
A furniture store insurance package, similar to an antique shop insurance package, offers general liability, commercial property, workers' compensation, cyber liability, and business owner’s policies. Other policies might be offered if your furniture store has specialized risks.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | |
|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $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 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $300,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Yes |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 |
The biggest problem that furniture stores face is claims from customers who get injured while shopping or testing merchandise. Proving this is American Furniture Warehouse which had to pay $1.2 million to a customer who fell from the ledge of one of its stores.
Your furniture store might not be as established. However, this won’t stop customers from filing costly lawsuits now or in the future. And so, always think of including a general liability policy in your furniture shop insurance bundle. Use the table above to see which insurance company offers the best general liability insurance for furniture stores.
General liability insurance helps to cover claims for bodily injuries or property damage that customers and other third parties file after experiencing an accident in the premises of your furniture store.
Here are some situations where general liability insurance can provide coverage:
A customer slips and falls while moving around
A customer trips on a sharp object and cuts her toe
The customer’s clothing gets caught in the protrusion of a furniture display and is torn
General liability insurance for furniture stores has a $1 million-$2 million per occurrence limit and a $1 million-$2 million aggregate limit.
If a claim is filed, general liability insurance will cover these expenses:
Medical treatment
Reimbursement for the damaged property
Settlements
Attorney fees and other legal expenses
Court judgments
Yes. Your furniture store’s general liability insurance automatically comes with a $1 million or $2 million product liability coverage. You can use this to reimburse the customer’s losses and shoulder the cost of product recall.
General liability insurance comes with a rented premises liability coverage. It will provide a $100,000-$300,000 reimbursement if ever the landlord or property custodian files a claim against you.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | |
|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $210,000 | $25,000/$500,000 | $25,000/$100,000 |
| Contents coverage limit (minimum) | $50,000 | $18,000 | $25,000/$500,000 | $25,000/$100,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded |
| 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 | Excluded |
| Business interruption floater | Excluded | Included | Included | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included |
Fires can mean devastating losses for furniture store owners. For example, a furniture store operating in Union Avenue, California lost $3 million in a fire breakout.
Imagine yourself being in the same situation. And so, consider purchasing a commercial property policy from your furniture shop insurance. Use the table above to see which insurance company offers the best commercial property insurance for furniture stores.
Your furniture store’s commercial property insurance is an all-risk coverage that takes effect if these exposures happen:
Fire
Theft
Vandalism
Civil commotion
Sprinkler leakage
Volcanic action
Lightning
Weather
Impact
Falling objects
Aircraft
Vehicle
Yes. Commercial property insurance comes with contents coverage which will reimburse your financial losses if the unsold furniture in your store’s showroom gets damaged or destroyed. In fact, aside from the products you're selling, coverage also applies to other contents such as HVAC, power generators, valuable papers and records, computers, and POS machines.
No. Commercial property insurance doesn’t cover pieces of furniture that wholesalers are delivering to you. However, coverage can apply if you have endorsed inland marine insurance to your furniture store’s commercial property insurance.
Insurance companies, by default, only allow their commercial property insurance to cover one furniture store. However, during the purchase of the policy, you might be asked if you have more than one location. If you say that this is the case, then insurance companies will add a blanket coverage endorsement that allows your commercial property insurance to cover all of your furniture stores albeit they’re in different locations.
| CoverWallet | Thimble | NEXT | Hiscox (Best) | |
|---|---|---|---|---|
| General liability aggregate limit | $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 | $25,000/$500,000 | $210,000 | $25,000/$1,000,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes |
You ensure the survival of your business by purchasing commercial property and general liability insurance. There’s no need to buy each of these insurance policies separately as there’s a business owner’s policy. Use the table above to see which insurance company sells the best business owner’s policy for furniture stores.
A business owner’s policy is a fusion of commercial property insurance and general liability insurance. What makes it different is that it can serve two purposes and that is to:
Cover expenses if a third party holds you liable for bodily injuries or property damage
Cover financial losses if your furniture store and its contents get damaged or destroyed due to a covered peril
The business owner’s policy for furniture stores offers a $1 million-$2 million general liability coverage and a $10,000-$500,000 commercial property coverage.
Yes. Business interruption, inland marine, hired/non-owned auto coverage, and cyber liability coverage are some of the add-ons you can include in your furniture store’s business owner’s policy.
As your furniture store grows and becomes busier, you’ll eventually hire someone to mind the cash register, talk with customers, keep financial records accurate, and check the inventory. Whether you like it or not, you will need to purchase workers' compensation insurance as soon as your furniture store has one or more employees.
Workers' compensation insurance allows your furniture store to provide compensation if an employee experiences a work-related accident. This will allow you to cover an employee’s medical treatment, hospitalization, medication, rehabilitation, retraining, lost wages; and in case of death, funeral expenses and allowance to dependents.
The full-time and part-time employees of your furniture store must be covered by workers' compensation insurance. Independent contractors and volunteers don’t need to be covered but can be named as additional insureds.
It’s hard to say how much workers' compensation coverage you need to have. However, rest assured that the worker's compensation policy you get from private insurance carriers already complies with the minimum limits mandated by your state’s workers' comp laws.
Cyber liability insurance is important if your furniture store owns a website that sells products and collects customer information. This insurance will protect you from unexpected expenses if you experience a cybersecurity error or cyber attack.
Cyber liability insurance for furniture stores is underwritten to cover these exposures:
Denial of service attacks
Man-in-the-middle-attacks
Ransomware
Malware
Phishing
Data breach
Other types of cyber attacks
Cybersecurity errors
Your furniture store’s cyber liability insurance provides the money for these expenses when the exposures we mentioned happen:
Customer notification
Professional services for containing and fixing the cyberattack or cybersecurity issue
Credit and fraud monitoring expenses
Legal costs if affected parties and authorities file a lawsuit against your furniture store
A commercial auto policy must be part of your furniture shop insurance if your store delivers furnishings to clients using its own vehicles. Here’s a quick summary of the functions of commercial auto insurance:
Pay for the medical treatment of third parties who were injured by your furniture store’s commercial vehicle
Pay the medical treatment of the driver and passengers if your furniture store’s commercial vehicle got involved in an accident that an uninsured/underinsured driver caused
Cover repair or replacement costs if your furniture store’s commercial vehicle sustained damage because of fire, theft, collision, weather, and other covered perils
Shoulder the expenses for emergency roadside services if your commercial vehicle experiences issues while at a specific distance
You can use commercial auto insurance to cover any type of vehicle for furniture delivery such as box trucks, cargo vans, flatbed trucks, and pickup trucks. Insurance companies also allow you to cover trailers and other attachments for loading cargo.
You’re still eligible but coverage might not be very comprehensive and there will be gaps. If a large portion of your furniture store’s revenue is from the manufacture and sales of cabinetries, we suggest that you go for a cabinet maker insurance.
Go for e-commerce insurance if you sell furniture online through a website or online selling platforms. This is the better option because you get more comprehensive coverage for exposures unique to running an online furniture store.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $45.05 | $540.60 | $0-$500 |
| Commercial property insurance | $50 | $600 | $1,000-$2,500 |
| Business owner’s policy | $81 | $972 | $500-$1,000 |
| Workers compensation insurance | $70 | $840 | $2,000-$5,000 |
| Cyber liability insurance | $60 | $720 | $500-$1,000 |
| Commercial auto insurance | $69 | $828 | $1,000 |
The average furniture store insurance cost is $45.05 per month or $540.62 per year for a $1 million general liability policy.
Now, you may be wondering exactly what factors go into determining how much your insurance carrier will charge you for coverage. The first thing to account for is your history of running a furniture business. If your business has a history of accidents or making claims, then your premium will be higher.
Another factor is how long you’ve been selling furniture. Insurance companies will be more likely to trust you if you’ve been selling furniture for a longer time. If your business is a new one, carriers may be a little hesitant about giving you a better rate.
Insurers will also look at the size of your business to figure out how much they should be charging you for coverage. A larger business will have to pay more for their furniture shop insurance because they have more customers coming through their doors and increasing the risk their insurer has to deal with.
Here’s another table that shows how much the recommended carriers charge for their $1 million general liability insurance for furniture stores:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $22.50 | $270 | Best overall; Fastest general liability insurance for furniture stores |
| CoverWallet | $29.85 | $358.20 | Furniture store insurance quotes comparison online |
| Tivly | $31 | $372 | Comparing furniture store insurance quotes over the phone |
| Hiscox | $41.10 | $493.20 | BOP for furniture stores with cyber liability insurance |
| Thimble | $58.91 | $706.92 | General liability insurance with customer property coverage for furniture stores |
| smei | $60 | $720 | Custom policies |
| AmTrust | $62 | $744 | Small furniture businesses |
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These are the best furniture store insurance companies. Read to know their pros, cons, and rate for a $1 million general liability coverage.
Instant coverage
Excellent customer reputation
Fastest general liability insurance for furniture stores
Responsive customer service
Great value for money
Get a certificate of insurance you can send to anyone easily
Get a 10% discount if you get two or more policies for your furniture store
Couldn't find any
NEXT’s furniture store insurance is a business owner’s policy that bundles general liability insurance and commercial property insurance.
This company’s commercial property insurance provides a minimum $210,000 building coverage. You get $18,000 minimum coverage for business personal property. There’s also an additional $2,500 coverage for money, securities, and signage.
As for your furniture store’s general liability insurance from NEXT, it offers a $1 million per occurrence limit with a $2 million aggregate. A $2 million product liability insurance is automatically included in your general liability policy’s terms.
Note that you can add workers' compensation insurance to NEXT’s BOP at an affordable price.
Best for: Best overall; Fastest general liability insurance for furniture stores
Average cost: $22.50 per month
Our rating: 10/10
Compare furniture store insurance quotes online
Online policy management and cancellation
Your general liability insurance has no deductibles
Not an insurance company but an insurance broker
CoverWallet’s furniture store insurance offers commercial property, workers' compensation, and commercial auto policies.
Your furniture store’s general liability insurance from CoverWallet has a $1 million per occurrence limit with an aggregate limit of $2 million. There are no deductibles. Additionally, your general liability insurance will have a $5,000 medical expenses coverage and a $2 million products and completed operations coverage.
CoverWallet’s commercial property insurance, on the other hand, provides $50,000 building and contents coverage. As for workers' compensation, it has a $1 million employer’s liability insurance and employment practices liability coverage.
Your commercial auto insurance from this company offers an auto liability coverage that conforms with state minimums. Other coverages you can include are uninsured/underinsured motorist and medical payments coverage.
Best for: Furniture store insurance quotes comparison online
Average cost: $29.85 per month
Our rating: 10/10
Build your furniture store’s insurance program from scratch
Assigns a representative to help you create a comprehensive insurance plan for your furniture store
Takes you to partners if it can’t provide coverage
You need to call to get a quote
Tivly (formerly CommercialInsurance.NET) offers comprehensive general liability and commercial property insurance for furniture stores. Other insurance products you can avail from Tivly are workers' compensation, cyber liability, product liability insurance, and more. Call Tivly now to compare quotes over the phone.
Best for: Comparing furniture store insurance quotes over the phone
Average cost: $31 per month
Huge number of coverage types
Affordable
Potential 20% discount
Not a carrier itself
smei is an insurance company based in the UK that mainly works in niche insurance that the major carriers don’t cover. smei has been around since 2002, but they’re more experienced than that would let on.
Since smei is an insurance broker, it can offer a much wider variety of forms of coverage than some of its competitors. If you’re looking to make sure that your insurance coverage is as comprehensive as can be, then you won’t be disappointed by their offerings that include contents, glass, business interruption, and liability coverage.
Best for: Custom policies
Average cost: $60 per month
Our rating: 10/10
Worldwide coverage
Fast insurance claims process
In-house team of insurance adjusters
You can get quotes quickly
Automatic policy renewal
Coverage limits aren’t comprehensive
Hiscox offers a business owner’s policy for your furniture store. Inclusions are general liability and commercial property insurance.
Your general liability insurance from this company will have a $300,000 per occurrence limit and a $300,000-$2 million aggregate.
As for Hiscox’s commercial property insurance, it offers $25,000-$100,000 building and contents coverage. A $1,000 deductible applies.
You can include a cyber liability policy to your BOP. This will have a $250,000 per occurrence limit with a deductible of $10,000.
Best for: BOP for furniture stores with cyber liability insurance
Average cost: $41.10 per month
Our rating: 9/10
General liability insurance can be added with customer property coverage and business equipment coverage
No deductibles
Fast online quotes
Business owner’s policy for furniture stores is underwritten by a partner
Thimble covers furniture stores that sell and assemble wood and metal furnishings for homes and offices. This company’s furniture store insurance offers general liability and commercial property insurance you can bundle into a business owner’s policy.
Thimble’s general liability insurance has a $1 million-$2 million per occurrence limit with a $2 million aggregate. On the other hand, its commercial property insurance provides $25,000-$500,000 building coverage and contents coverage.
Best for: General liability insurance with customer property coverage for furniture stores
Average cost: $58.91 per month
Our rating: 9/10
Comprehensive BOPs
Great for smaller shops
Quick claims response
A little pricey
AmTrust is a financial company that was founded in New York City in the 1990s. Throughout its history, AmTrust has been known as one of the best insurance companies for small businesses due to the amount of effort it put into supporting those smaller businesses and tailoring their services to them.
While AmTrust specializes in workers’ compensation insurance, it also offers a range of other kinds of coverage. For example, Amtrust has relatively comprehensive BOPs available, protecting you from property damage, liability, and business interruption that results in a loss of income.
Best for: Small furniture businesses
Average cost: $62 per month
Our rating: 8/10
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.
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
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.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
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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