Mobile Phone Shop Insurance: Cost & Quotes From $11/mo

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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. 

Phone Store Liability Insurance

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. 


General Liability Insurance for Phone Stores 

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. 


In What Situations Can Your Mobile Phone Shop Use General Liability Insurance?

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

Will General Liability Insurance Help if the Salesperson or Mobile Technician of a Phone Brand Sustains an Injury or Property Damage While in My Mobile Phone Shop?

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. 


Product Liability Insurance for Mobile Phone Shops 

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. 


How Does Product Liability Insurance Help Your Business?

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 

How Do You Avail Product Liability Insurance for Your Mobile Phone Shop?

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. 


Professional Liability Insurance for Mobile Phone Shops

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. 


In Which Situations Can Professional Liability Insurance Help Your Mobile Phone Shop?

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

Can Professional Liability Insurance Help if I’m Accused of Selling Counterfeit Apple Smartphones?

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. 

Compare Cheap Mobile Phone Shop Insurance Quotes Online

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Commercial Property Insurance for Mobile Phone Shops 

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. 


My Mobile Phone Shop Repairs Phones. Will Commercial Property Insurance Help if Something Happens to a Customer’s Phone While It’s Under My Possession?

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. 


Can I Use Commercial Property Insurance to Recover Losses if an Earthquake Happens and the Phones on Display and in the Storage Room Get Damaged?

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. 


Business Owner’s Policy for Mobile Phone Shops

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. 


Tools and Equipment Insurance 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. 


How Do You Get Tools and Equipment Insurance for Your Business?

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. 


Workers’ Compensation Insurance for Mobile Phone Shops 

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.


Commercial Auto Insurance for Mobile Phone Shops

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


What Other Insurances Would I Need to Cover My Mobile Phone Shop?

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

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Phone Shop Insurance Cost

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

Compare Cheap Mobile Phone Shop Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Phone Store Insurance Companies

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. 


NEXT Phone Store Insurance

Pros

  • 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 

Cons

  • 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


CoverWallet Phone Store Insurance

Pros

  • 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

Cons 

  • 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


The Hartford Phone Store Insurance

Pros

  • Claims processes are fast and easy

  • Fair rates

  • Number 2 best company for workers comp insurance

  • Has insured a million small businesses 

Cons

  • 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


Tivly Phone Store Insurance

Pros

  • Responsive customer service

  • Compare insurance quotes for phone stores over the phone

  • A partner of many reputable insurance companies 

Cons

  • 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


Thimble Phone Store Insurance

Pros

  • Quick to issue an estimate of your rates

  • Has high TrustPilot ratings

  • Temporary insurance is available

Cons

  • 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


Hiscox Phone Store Insurance

Pros

  • Upgrades can be added for better coverage

  • Reasonably priced upgrades

  • Automatic policy renewal

  • Worldwide coverage

Cons

  • 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


Chubb Phone Store Insurance

Pros

  • 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

Cons

  • 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

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