For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Mobile phones have become integral not only for communication for work. Now, we have apps for editing photos, tracking sales, and even setting up team meetings.
People can buy phones from the electronics section of department stores. Nonetheless, only a mobile phone shop solely offers the variety that shoppers look for.
It’s not a bad idea to get insurance for your mobile phone shop. Malls and other big commercial centers will require this before allowing you to lease. Insurance will help you recover and grant financial reimbursement if the phone and computer technician damage a client’s phone.
A tailored mobile phone shop insurance package offers the best protection. Read this guide to know how much premiums cost, the best companies, and what policies are included.
Not only do you have a responsibility to insure your phone store, but you also have a responsibility to the public when they enter the premises. That's where phone store liability insurance will help you. This type of insurance will help you cover the claims without devastating your financial well-being and having to close your shop. You avail this as a general liability policy, professional 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 | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
If there's one type of mobile shop insurance you should have, it's this one. This type of insurance protects from claims made by customers and other third parties who experienced an accident, reputational harm, or infringement of intellectual property that your mobile phone shop is responsible for. Use the table above to see which insurance company offers the best general liability insurance for mobile phone shops.
General liability insurance will kick in if any of these situations happen in your mobile phone shop:
A customer slips and falls while shopping around
A newly repaired mobile phone exploded while it’s being tested by the owner. The owner sustained cuts and burns
A customer got electrocuted while charging his phone
Your employee burned the customer’s hand with a soldering iron while repairing the phone
A customer tripped on the wire of your mobile phone store’s television
Yes. If a phone brand sends personnel to your mobile phone shop and they get injured or sustain property damage, general liability insurance can help. It’s because such persons are still considered third parties even though they’re doing something on behalf of your mobile phone shop.
Phones are mass-produced. Though tested for quality and absence of defects, it’s still possible for defective units to be released from the factory. This is why all mobile phones come with a warranty.
The thing is, warranties will only refund or give a replacement unit to the customer. And in case bodily injuries or property damage is sustained, your business needs to grant compensation using its own reserves. This is where product liability insurance comes in.
Product liability insurance helps your business by taking care of the costs for medical treatment, property damage reimbursement, and product recall if a mobile phone caused some damages by having:
Manufacturing issues (e.g. the phone explodes due to poor wiring or substandard battery)
Labeling errors
Improper packaging
Insurance companies nowadays automatically include product liability insurance as an add-on to general liability insurance. In other words, you get product liability coverage by purchasing general liability coverage.
| 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 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Yes | No |
| Deductible | $500 | $500 | $500 | $500 | $500 |
It’s not bad to invest in professional liability insurance if your mobile phone shop offers repair services. Use the table above to see which insurance company offers the best professional liability insurance for mobile phone shops.
Your mobile phone shop can use professional liability insurance when these things happen:
The customer files a claim because his repaired phone was released to another person
The customer files a claim because your phone repair technician tampered with his or her phone
Your mobile phone shop lost the customer’s phone
The customer’s phone was further damaged
Apple smartphones are commonly counterfeited and sold. In case a customer accuses you of doing this, can professional liability insurance help? The answer is no. This act counts as fraud. Coincidentally, fraud is an exposure not usually covered in the language of professional liability insurance.
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $340,000 | $25,000/$500,000 | $35,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $35,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Commercial property insurance protects your mobile phone store’s building, equipment, and inventory against fire, theft, vandalism, explosions, weather, and other covered perils. When a covered peril happens, this insurance grants a reimbursement based on the value of the business property. Use the table above to see which insurance company offers the best commercial property insurance for mobile phone shops.
No. Commercial property insurance has a care, custody, and control exclusion. Therefore, coverage can’t apply. You can cover this exposure by including a customer property coverage to your general liability policy.
Earthquakes aren't included as a covered peril in commercial property insurance. However, you can purchase an endorsement for coverage to apply. Other exposures excluded are floods, mudslides, landslides, and avalanches.
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| 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 | $340,000 | $25,000/$500,000 | $35,000 | $75,000 |
| 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 |
A business owner’s policy allows you to bundle the general liability policy and commercial property insurance for your mobile phone shop. The result is coverage that’s 10% cheaper than buying general liability and commercial property insurance separately.
Moreover, unique add-ons become available such as cyber liability insurance, business interruption insurance, and non-owned/hired auto liability coverage. Use the table above to see which insurance company offers the best business owner’s policy for mobile phone 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 |
Tools and equipment insurance allows you to pay for the repair or replacement of phone display racks/tables, computer, POS, and mobile phone repair tools that got damaged or lost due to fire, theft, vandalism, and other covered perils. Use the table above to see which insurance company offers the best tools and equipment insurance for mobile phone stores.
Tools and equipment insurance is available as an add-on to general liability insurance with a $2,500-$10,000 limit. Higher limits can be enjoyed if you get this as a stand-alone policy.
Now that you have a mobile phone store, you may have employees, such as salespeople and repair technicians. You will be responsible for protecting them while they are on the premises of your store.
Workers' compensation insurance helps the employee to not incur losses if he or she is injured on the premises of your store.
This functions to cover emergency care, hospitalization, rehabilitation and retraining, lost wages, and death benefits. Some insurance companies include an employer’s liability coverage in workers' compensation insurance. Employer's liability insurance will cover costs from claims made by an employee who may have been injured on the premises of your store. Costs can include paying for your defense in a claim dispute or paying a settlement to the employee.
Do you use a commercial vehicle for moving phones and other products to be sold to branches or retail partners? If this is the case, consider adding a commercial auto policy to your phone store insurance package.
Commercial auto insurance grants protection against unfortunate things that can happen while your commercial vehicle is running on the road. You use this as coverage for a leased, owned, or hired vehicle. Here’s a quick look at how commercial auto insurance can help:
Cover the hospitalization of people who your commercial vehicle injured in an accident
Pay for the medical treatment of the driver and passengers if your mobile phone shop’s vehicle got involved in an accident caused by an uninsured/underinsured driver
Pay for the repair of your mobile phone shop’s vehicle if it gets damaged by fire, theft, vandalism, and other covered perils
Here are some other phone store insurance policies to enjoy a comprehensive coverage
Business interruption insurance-If your business has to close temporarily because of a loss covered under your commercial property insurance, this will cover operational costs such as employee wages, utility bills, loans, taxes, and others
Cyber liability insurance-Cyber liability insurance is useful if your mobile phone shop sells phones through a website. In case customer data get leaked, this will cover the cost of notification, data recovery, credit and fraud monitoring, and legal defense
Employee dishonesty insurance-Employee dishonesty insurance will recover your losses if an employee commits theft, vandalism, fraud, forgery, social engineering, and other dishonest acts. Some companies automatically include this in commercial property insurance
Inland marine insurance-Inland marine insurance will reimburse your loss if the shipping carrier damages the phones you're about to sell during delivery. This is available as an add-on to commercial property insurance
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $45 | $540 | $0-$500 |
| Professional liability insurance | $50 | $600 | $500-$1,000 |
| Commercial property insurance | $53 | $636 | $1,000-$2,000 |
| Business owner's policy | $90 | $1,080 | $1,500 |
| Commercial auto insurance | $59 | $708 | $500-$1,000 |
| Workers compensation insurance | $87 | $1,044 | $1,000-$2,500 |
| Cyber liability insurance | $88 | $1,056 | $500-$1,000 |
| Employee dishonesty insurance | $57 | $684 | $500-$1,000 |
| Business interruption insurance | $55 | $660 | $500-$1,000 |
| Inland marine insurance | Depends on the value of items to be covered | Depends on the value of items to be covered | $500-$1,000 |
The average phone shop insurance cost is $45 per month or $540 per year for a $1 million general liability policy. Factors that affect premiums are business size, business history, number of employees, deductibles, policy limits, and location. Here’s another table showing the cost of a $1 million general liability insurance from the best companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $27 | $324 | Best overall; Fastest general liability insurance for phone stores |
| CoverWallet | $28 | $336 | Phone store insurance online quotes comparison |
| The Hartford | $30 | $360 | Workers compensation insurance for phone stores |
| Tivly | $33 | $396 | : Comparing phone store insurance quotes over the phone |
| Thimble | $35 | $420 | Short-term general liability insurance for phone shops |
| Hiscox | $37 | $444 | Insurance for phone stores that automatically renews every year |
| Chubb | $47 | $564 | Phone stores with multiple locations |
Get all the best quotes from leading providers in a click of a button!
Compare and contrast highly-rated insurance companies to determine the insurance provider to provide the coverage for your business needs. Here are the best phone store insurance companies. Read some of the reviews below to know their pros, cons, and rate for a $1 million general liability policy.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for phone 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 covers phone stores through its retail insurance package. This company is a good choice if you’re looking for a fast general liability insurance application process. To get a quote, you‘ll have to choose retail and e-commerce in the online quotation tool and then signify that you sell mobile phones. Policies you can get from NEXT are:
$1 million-$2 million general liability insurance
$1 million product liability insurance
$340,000 commercial property insurance
Business owner’s policy
Workers compensation insurance
Commercial auto insurance
Best for: Best overall; Fastest general liability insurance for phone stores
Average cost: $27 per month
Our rating: 10/10
Compare phone store insurance quotes online
Buy coverage online or with the help of an agent
Cancel a policy anytime with no charges
No hidden fees
Not an insurance company but an insurance broker
CoverWallet is a subsidiary of AON that works with multiple insurance companies to grant comprehensive coverage for your phone store. With this company’s online quotation platform, you can easily find the best coverage options with a click of a button. A typical phone store insurance package from CoverWallet offers:
$1 million-$2 million general liability insurance
$1 million professional liability insurance
$3 million cyber liability insurance
Business owner’s policy
Commercial property insurance
Workers compensation insurance
Best for: Phone store insurance online quotes comparison
Average cost: $28 per month
Our rating: 10/10
Claims processes are fast and easy
Fair rates
Number 2 best company for workers comp insurance
Has insured a million small businesses
Possible premium hikes after submitting a claim
The Hartford, founded in 1810, provides comprehensive general liability insurance with a $1 million-$2 million per occurrence and aggregate limit. Higher limits are available if you talk to a representative. The Hartford's general liability coverage will also extend to damage imposed on the premises rented to you and liability for the accidents caused by a hired or borrowed auto. Other policies offered are commercial auto, workers' compensation, and cyber liability insurance.
Best for: Workers' compensation insurance for phone stores
Average cost: $30 per month
Our rating: 10/10
Responsive customer service
Compare insurance quotes for phone stores over the phone
A partner of many reputable insurance companies
You need to call to get a quote
Similar to CoveWallet, Tivly grants coverage by aggregating the quotes of partners then offering them to you. But to compare quotes, you need to call and talk with a representative over the phone. Tivly offers general liability, commercial property, business owner’s policy, and other business insurance solutions.
Best for: Comparing phone store insurance quotes over the phone
Average cost: $33 per month
Our rating: 10/10
Quick to issue an estimate of your rates
Has high TrustPilot ratings
Temporary insurance is available
You can’t reach customer service by calling
Thimble, where you can acquire general liability policies, offers temporary insurance that will not commit you to a particular time frame; for example, a 1-year policy. Instead, they allow you to be flexible on how long to insure your business for as little as one month, one day, or even one hour. Aside from general liability, you can also avail business owner’s policy, workers compensation, and equipment insurance from Thimble.
Best for: Short-term general liability insurance for phone shops
Average cost: $35 per month
Our rating: 9/10
Upgrades can be added for better coverage
Reasonably priced upgrades
Automatic policy renewal
Worldwide coverage
Online quoting may not be available sometimes due to periodic site maintenance
Hiscox doesn’t have a phone store insurance package. However, you can qualify for its insurance program for consumer electronic stores. Work with Hiscox because it has a proven portfolio of insuring businesses in the retail industry. Insurance policies you can avail from this company are:
$300,000-$2 million general liability insurance
$250,000 cyber liability insurance
Business owner’s policy
Best for: Insurance for phone stores that automatically renews every year
Average cost: $37 per month
Our rating: 9/10
Tailors business insurance coverage to fit your needs no matter the size or type of business
Claims are handled fast and efficiently
An experienced insurance company that was founded in 1882
Do not offer online quotes
Chubb offers BOP insurance coverage for retail stores that cover employment practices liability, workman's compensation, liability enhancements, and property coverages. They even provide cyber enterprise risk management to protect customer payment data.
Best for: Phone stores with multiple locations
Average cost: $47 per month
Our rating: 8/10
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!
It really can't get any better than this... wow
Very good experience
Terrific experience with their construction business insurance! 10/10! Thank you!
Not all those who wander are lost.
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