Gas Station Insurance: Cost, Cheap Quotes & More

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If you run a small business like a coffee shop, grocery store, warehouse or a gas station, then it’s often a good idea to get cheap business insurance that will keep you protected in case anything ever goes wrong. In fact, some states require businesses to carry specific forms of insurance coverage at the very least. In this specific guide, we bring you all the things you need to know about gas station insurance.

Gas Station Insurance Cost

Petrol station insurance cost can vary dramatically based on a wide range of factors, so there’s no more accurate way to find out how much you can expect to pay other than getting your own quotes. Of course, there are a few obvious factors that can influence the cost of your gas station insurance.

For example, the safety history of your gas station will have a dramatic impact on the cost of your insurance. If you have a poor record and you’ve had multiple employees or customers who have been injured while they were at your gas station, then insurance companies will increase your premiums.

Other than that, you’ll have to account for the size of your gas station. A larger gas station can expect to see more customers over the course of a day and that increases the chance of one of your clients ending up injured or having their property damaged at your place of business.

Finally, you’ll also have to consider what kind of coverage you’re getting. If you’re only getting general liability coverage or workers’ comp and unemployment insurance, then you can expect to pay far less than you would if you had opted for a more comprehensive business insurance policy. 

That said, generally, the average gas station insurance cost is $117 per month - or $1,387 a year for general liability insurance coverage.

Here are the average gas station business insurance rates from some of the top insurers out there for general liability coverage:

Main Types of Insurance for Gas Stations

General Liability Insurance for Gas Stations

General liability insurance is one of the most common forms of insurance for businesses like gas stations because of the potential of their clients getting injured or suffering property damage on the premises. For example, if someone crashes their car at your gas station and they try to sue you, then you’ll be covered by general liability coverage.

Some forms of general liability insurance will also cover you if you end up inadvertently damaging the property that your landlord is leasing out to you. Keep in mind that general liability coverage won’t protect you from punitive damages or injuries that employees sustain on the job.

Workers’ Compensation Insurance for Gas Stations

Workers’ compensation insurance is a type of no-fault insurance, meaning that it will pay out regardless of who was responsible for what happened. As the name suggests, this kind of insurance exists to cover employees in case they end up getting injured or sick, typically on the job.

There are several things that workers’ comp will cover you for, including lost wages while your worker recovers from their injuries. It will also cover your employee’s medical expenses and even death benefits like funeral expenses if the worst happens while your employee is working.

Commercial Auto Insurance for Gas Stations

Many gas stations use company vehicles, and a commercial auto insurance policy will allow you to cover these vehicles while they're on the job. Commercial auto insurance is entirely separate from personal auto insurance because of how much more frequently commercial vehicles are used than personal vehicles.

A car that spends more time on the road will be more likely to get into an accident, and this means that your insurance carrier will be accepting more of a risk when covering a commercial vehicle. This leads to more expensive auto insurance premiums because the insurance company needs to find a way to offset that risk.

Business Owner’s Insurance for Gas Stations

Business owner’s insurance combines a few key forms of insurance, and the exact component policies depend on your add-ons and the insurance company that you’re working with. However, in its most basic form, business owner’s insurance will provide you with general liability coverage as well as property coverage.

Property coverage for commercial buildings will pay out if your gas station ever ends up getting damaged. Along with paying for the repairs to your property, this kind of coverage will also pay out for loss of income and debris removal in the wake of the accident or event that caused the damage.

Best Gas Station Insurance Companies

Along with the price of your gas station insurance, you’ll have to carefully consider which insurance carrier you’re going to go with since they can offer different policies and prices. Some carriers cover gas stations under more traditional business insurance policies while others may have specialized policies for gas stations.

Geico Gas Station Insurance

Geico offers a range of policies that would work well for gas station owners, including business owner policies and individual liability policies. Getting a quote from Geico is relatively simple because of their intuitive online interface, and once you have a policy, you can also manage it directly on their site.

Along with general liability coverage and business owner policies, Geico also offers workers’ comp coverage in case your employees have any accidents or even if they end up falling ill. However, in exchange for their in-depth services and heavy online presence, Geico’s coverage tends to be a little more expensive.

Allstate Gas Station Insurance

Allstate offers business liability insurance under their business insurance policies, and they allow you to add on the kind of coverage that you believe your gas station needs. This allows you to pick and choose the best insurance components for your needs without ending up spending too much, which can cut deeply into a small gas station’s profits.

Along with Allstate’s general liability coverage, they offer employment practices liability coverage, which will pay out if you ever get sued by an employee for wrongful termination. Another advantage of Allstate’s coverage is that their pick-and-choose approach means that you can end up with some pretty affordable premiums.