Sporting Goods Store Insurance: Cost & Quotes From $25/mo

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Sporting goods stores provide hobbyists and teams the equipment they need to pay basketball, tennis, or any other sports. 

Running a sporting goods store comes with risks and liabilities. From customer injuries to property damage, accidents can happen unexpectedly, and the financial repercussions can be overwhelming. 

That’s where sporting goods store insurance comes in. Get this and you won’t have to worry even if you’re selling very expensive equipment such as golf clubs or hockey equipment.  This comprehensive guide will explore the different insurance policies available for sporting goods stores. We will also discuss the coverage limits, show available add-ons, and provide estimated costs from some of the best insurance companies in the industry.

General Liability Insurance for Sporting Goods Stores

CoverWallet  NEXT (Best) Thimble Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $300,000/$1,000,000 $300,000 $100,000 $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 No Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0


General liability insurance is a crucial policy that provides coverage for potential risks and liabilities sporting goods stores face. It safeguards your business from financial losses from third-party claims, such as bodily injury, property damage, or advertising injuries. 


Specific Situations  Covered

  • Slip and fall accidents–If a customer slips and falls in your store, resulting in injuries

  • Property damage–If a customer’s property is damaged while in your store, such as a broken display or damaged personal belongings

  • Product liability–If a customer suffers injuries or property damage due to a defective product sold by your store

  • Personal injury–A customer sues for slander or libel

Coverage Limits of General Liability Insurance for Sporting Goods Stores

Typically, coverage limits range from $1 million to $2 million, although higher limits may be available based on your business needs and the insurer’s offerings.

Add-Ons to General Liability Insurance for Sporting Goods Stores

To enhance your general liability coverage, consider the following addons:

  • Product liability coverage–This addon specifically focuses on extending coverage for injuries or damages caused by the products you sell.

  • Umbrella liability insurance–An umbrella policy provides additional liability coverage beyond the limits of your general liability insurance, offering extra protection in case of a very costly lawsuit

Does General Liability Insurance Cover Online Sales and Related Liabilities for Sporting Goods Stores?

Insurance companies underwrite general liability insurance that it also covers sporting goods stores in Amazon, Etsy, and other online platforms. 


Product Liability Insurance for Sporting Goods Stores

Product liability insurance is a specialized policy designed to protect sporting goods stores from potential claims and lawsuits related to their products. This sporting goods insurance provides financial protection if a customer suffers injuries or property damage due to a defective product sold by your store.


Specific Situations Covered

  • Defective equipment–If a customer sustains injuries due to a faulty sports equipment product purchased from your store

  • Manufacturing defects–Product liability insurance can cover the damages and legal expenses if a product has a manufacturing defect that makes it unsafe for use and harms a customer

  • Design defects–In cases where a product’s design poses a risk or flaw that leads to injuries or property damage

Coverage Limits of Product Liability Insurance for Sporting Goods Stores

Coverage limits typically range from $1 million to $5 million, but higher limits may be available for businesses with specific needs or higher-risk products.


Does Product Liability Insurance Cover the Recall Expenses of Defective Products Sold by the Store?

The insurance can provide coverage for the expenses associated with product recalls. This includes costs such as notifying customers, retrieving defective products, and implementing necessary corrective actions.

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Commercial Property Insurance for Sporting Goods Stores

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 is a vital policy that covers your sporting goods store’s physical assets. This type of policy falls under sports store insurance that safeguards your business from financial losses resulting from property damage, theft, or other covered perils. 


Specific Situations Covered

  • Fire damage–If your store experiences a fire that causes damage to the building, inventory, or equipment, then commercial property insurance can help

  • Water damage–Coverage extends to water damage resulting from incidents such as burst pipes, leaking roofs, or sprinkler system malfunctions

  • Natural disasters–Coverage can include lightning, rains, and snow

Coverage Limits of Commercial Property Insurance for Sporting Goods Stores

Coverage limits typically range from $500,000 to $5 million, depending on your business needs and the valuation of your property. 


Add-Ons to Commercial Property Insurance for Sporting Goods Stores 

  • Equipment breakdown coverage–Offers protection for the repair or replacement costs of equipment, such as HVAC systems, refrigeration units, or specialized machinery, in case of mechanical or electrical breakdown

  • Flood insurance–If your store is in a flood-prone area, adding flood insurance can cover damages caused by flooding, typically excluded from standard commercial property insurance

Does Commercial Property Insurance Cover Inventory Spoilage Due to a Power Outage?

It depends on the specific terms of your policy. Some commercial property insurance policies cover inventory spoilage caused by power outages from covered perils such as equipment breakdowns or utility failures.


Show thumbnail preview	 Tennis rackets and balls on an orange background in a sporting goods store. Tennis rackets and balls on an orange background in a sporting goods store.


Business Owner’s Policy for Sporting Goods Stores

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 $320,000 $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 (BOP) is a comprehensive insurance package specifically designed for small and medium-sized businesses, including sporting goods stores. It combines multiple coverages into one policy, providing convenience and cost savings.


Specific Perils Covered

  • Property damage or loss resulting from covered perils such as fire, theft, vandalism, or natural disasters

  • A covered event temporarily forces your sporting goods store to close

  • Injuries or property damage caused by your products

Coverage Limits of Business Owner’s Policy for Sporting Goods Stores

Generally, coverage limits can range from $1 million to $5 million, depending on your specific needs and the policy options available.


Add-Ons to Business Owner’s Policy for Sporting Goods Stores

  • Cyber liability insurance–Adding this coverage can protect your business from financial losses due to data breaches, cyberattacks, or other technology-related risks

  • Employment practices liability insurance (EPLI)–EPLI provides coverage for claims related to employment practices, such as wrongful termination, discrimination, or harassment

Does a Business Owner’s Policy Cover Loss of Income Due to a Government-Mandated Closure?

Business interruption coverage within a business owner’s policy can cover loss of income due to government-mandated closures, such as during a state of emergency or public health order. 


Tools and Equipment Insurance for Sporting Goods Stores

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
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


Tools and equipment insurance is a policy that provides coverage for the valuable tools, equipment, and machinery used in sporting goods stores. This insurance protects your business from financial losses from damage, theft, or other covered perils related to your tools and equipment. Sporting goods store owners should work closely with providers experienced in sporting goods insurance to assess their equipment needs and obtain appropriate coverage that safeguards their tools and equipment from potential risks.


Specific Situations Covered

  • Coverage extends to damage caused by covered perils such as fire, water damage, vandalism, or accidental breakage

  • This insurance can also cover the repair or replacement costs of equipment or machinery that breaks down due to mechanical or electrical failures

  • Coverage may include protection for your tools and equipment while in transit, such as during transportation to trade shows, events, or off-site locations

Coverage Limits of  Tools and Equipment Insurance for Sporting Goods Stores

Typically, coverage limits can range from $10,000 to $500,000 or more depending on the valuation of your store’s tools and equipment. 


Add-Ons to Tools and Equipment Insurance for Sporting Goods Stores

  • Inland marine insurance–Provides coverage for your tools and equipment when transported or temporarily stored at locations away from your primary business premises.

  • Rented equipment coverage–If you frequently rent additional tools or equipment for specific projects or events, adding this coverage can protect you from financial losses if the rented items are damaged or stolen.

Do Tools and Equipment Insurance Cover Damage Caused by User Error or Accidental Drops?

Tools and equipment insurance can cover damage caused by user error or accidental drops as long as the damage occurs within the terms and conditions of the policy.


Commercial Auto Insurance for Sporting Goods Stores

Commercial auto insurance is an insurance policy that provides coverage for vehicles used in the operations of sporting goods stores. It protects against financial losses from accidents, damage, or other incidents involving the covered vehicles used for business purposes. 


Coverage Limits of Commercial Auto Insurance for Sporting Goods Stores

Coverage limits can range from $500,000 to $1 million, depending on your business needs and the policy options available.


Specific Situations Covered

  • Auto accidents–Coverage includes bodily injury and property damage liability for accidents involving your vehicles, protecting you from potential legal and medical expenses

  • Vehicle damage–This insurance covers repair costs or replacement value for vehicles damaged in accidents, regardless of fault

  • Non-collision damage–It includes coverage for damage caused by non-collision incidents such as fire, severe weather, falling objects, or collisions with animals

Add-Ons to Commercial Auto Insurance for Sporting Goods Stores 

  • Hired and non-owned auto coverage–Provides coverage for vehicles not owned by your business but used for business purposes.

  • Roadside assistance–You can use this add-on to cover the cost of jumpstarts, tire delivery, gas delivery, and other related services needed when the commercial vehicle stalls or breaks down on the road 

Does Commercial Auto Insurance Cover Personal Vehicles Used Occasionally for Business Purposes?

Commercial auto insurance generally covers vehicles that are primarily used for business purposes. 

Excess Liability Insurance for Sporting Goods Stores

Excess liability insurance, also known as umbrella insurance, is an additional layer of liability coverage that goes beyond the limits of your primary sports store insurance policies. It provides extra protection against catastrophic events or large lawsuits that exceed the limits of your underlying insurance coverage. 


Coverage Limits  of Excess Liability Insurance for Sporting Goods Stores

Typically, excess liability coverage starts at $1 million and can go up to $10 million or more.


Workers’ Compensation Insurance for Sporting Goods Stores

Workers’ compensation insurance is a crucial inclusion in sports store insurance. It is a specific type of insurance that covers employees who suffer work-related injuries or illnesses. In sporting goods stores, where employees may engage in physically demanding tasks such as lifting heavy equipment or organizing sports equipment, the risk of accidents and injuries can be higher.

Specific Situations Covered 

  • Strains and sprains–Employees in a sporting goods store may be involved in physical activities like lifting heavy equipment or moving merchandise, which can lead to strains and sprains

  • Repetitive motion injuries–Employees who perform repetitive tasks like scanning items at the cash register or stocking shelves may develop repetitive motion injuries like carpal tunnel syndrome

Coverage Limits of Workers’ Compensation Insurance for Sporting Goods Stores

The coverage limits and requirements for workers’ compensation insurance vary depending on the state where your sporting goods store operates. Each state has its own laws and regulations regarding workers’ compensation. 


Add-Ons to Workers’ Compensation Insurance for Sporting Goods Stores

  • Employer’s liability insurance–Provides coverage for legal costs if an employee files a lawsuit against your sporting goods store for alleged negligence or unsafe working conditions resulting in their injury or illness

  • Occupational accident insurance–Can supplement workers’ compensation coverage by providing additional benefits and coverage options for work-related accidents or injuries

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Sporting Goods Store Insurance Cost

Cost per Month Cost per Year Deductible
General Liability Insurance $37 $444 $0-$500
Excess liability insurance $40 $480 $500-$1,000
Commercial property insurance $89 $1,068 $1,000-$2,000
Business owner’s policy $126 $1,512 $1,500
Tools and equipment insurance $42 $504 $500-$1,000
Commercial auto insurance $52 $624 $500-$1,000
Workers compensation insurance $129 $1,548 $2,000-$5,000


The average sporting goods store insurance cost is $37 per month or $444 per year for a $1 million general liability policy. Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, location, annual revenues, and number of employees. Here’s a table showing the cost of a $1 million general liability insurance from the best sporting goods store insurance companies:

Cost per Month Cost per Year Best for
NEXT $23 $276 Best overall; Fastest general liability insurance for sporting goods stores
CoverWallet $26 $312 Comparing sporting goods store insurance quotes online
The Hartford $28 $336 Workers compensation insurance for sporting goods stores
Tivly $31 $37 Comparing sporting goods store insurance quotes over the phone
Thimble $32 $384 On-demand coverage for sporting goods stores
Hiscox $34 $408 Sporting goods store insurance with worldwide coverage

Compare Cheap Sporting Goods Store Insurance Quotes Online

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

Best Sporting Goods Store Insurance Companies

Finding the right insurance company for your sporting goods store is crucial to ensure comprehensive coverage and reliable protection. Here are some of the companies you might want to consider working with. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance:


NEXT Sporting Goods Store Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for sporting goods 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 is a leading insurance company that helps provide coverage for businesses involved in adventurous activities. It allows customers to get covered online with the help of an agent. Moreover, NEXT has an online platform where customers can easily get their certificate of insurance and send it to someone as a text message, email, or social media post. 

Best for: Best overall; Fastest general liability insurance for sporting goods stores

Average cost: $23 per month

Our rating: 10/10


CoverWallet Sporting Goods Store Insurance

Pros

  • CoverWallet’s online platform offers a seamless and user-friendly experience, making it easy for businesses to compare quotes and select the right insurance coverage

  • They provide personalized policy recommendations based on the unique requirements of each business, ensuring that they receive the appropriate coverage

  • You can compare quotes online 

Cons

  • Not an insurance company but an insurance broker 

CoverWallet is an online insurance brokerage firm that provides adjusted insurance solutions to businesses of all sizes. It grants coverage through an online quote comparison platform which allows customers to see which of CoverWallet’s provides the best coverage at the right price. Upon getting covered, custCoverWalletomers can access this company’s online platform which allows for easy policy management. 

Best for: Comparing sporting goods store insurance quotes online 

Average cost: $26 per month

Our rating: 10/10


The Hartford Sporting Goods Store Insurance

Pros

  • Has a strong reputation for delivering excellent customer service and efficient claims handling, providing peace of mind to small business owners

  • They offer a comprehensive suite of insurance products designed to address small businesses’ unique risks

  • Renowned company for workers compensation insurance

Cons

  • Some customers have reported slightly higher premiums than other insurance providers. 

The Hartford is an insurance company that provides coverage for small businesses. This company is famous for its workers compensation policies. The Hartford can create specialized policies for customers with high-risk profiles. 

Best for: Workers compensation insurance for sporting goods stores

Average cost: $28 per month

Our rating: 10/10


Tivly Sporting Goods Store Insurance

Pros

  • A partner of reputable insurance companies 

  • Compare quotes over the phone 

  • Grants coverage regardless of your risk profile 

Cons

  • You need to call to get a quote 

Tivly is a technology-driven insurance company that provides tailored coverage options for small businesses. This company takes you to a carrier that best fits your risk profile. Policies you can get are general liability, workers compensation, and more. Call now to compare quotes over the phone. 

Best for: Comparing sporting goods store insurance quotes over the phone

Average cost: $31 per month

Our rating: 8/10


Thimble Sporting Goods Store Insurance

Pros

  • Thimble’s on-demand coverage options allow businesses to purchase insurance when needed, providing flexibility and cost-effectiveness

  • Buy general liability insurance as a long-term or short-term policy

  • Numerous add-ons to general liability insurance

Cons

  • You can’t reach customer service by calling 

Thimble is an insurance company that provides on-demand coverage for small businesses. It offers general liability as a long-term and short-term coverage. Numerous add-ons are available to Thimble’s long-term general liability policy, such as professional liability and HNOA coverage. The short-term general liability coverage doesn’t have add-ons. Nonetheless, you can customize limits. 

Best for: On-demand coverage for sporting goods stores 

Average cost: $32 per month 

Our rating: 8/10


Hiscox Sporting Goods Store Insurance

Pros

  • Offers a comprehensive suite of insurance products, making them a one-stop solution for businesses seeking different types of coverage

  • They provide coverage for businesses in multiple countries, making them an ideal choice for companies with international operations

Cons

  • There have been customer reports regarding processing claims and factory customer service

Hiscox is an international insurance company that covers businesses of all sizes. This company offers a 14-day money-back guarantee on all of its policies. Worldwide coverage is included in its general liability insurance. Last but not least, going back to all of its policies, Hiscox allows you to make them more comprehensive through numerous upgrades. 

Best for: Sporting goods store insurance with worldwide coverage

Average cost: $34 per month

Our rating: 8/10

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