Insuranks
Insuranks

Thrift Store Insurance: Cost & Quotes From $25/mo

Table of contents
1. General Liability Insurance for Thrift Shops1.1. Add-Ons of General Liability Insurance for Thrift Shops1.2. Coverage Limits of General Liability Insurance for Thrift Shops1.3. Does My Store Need General Liability Insurance Even If It Is A Small Business?2. Product Liability  Insurance for Thrift Shops    2.1. Add-Ons of Product Liability Insurance for Thrift Shops2.2. Coverage Limits of Product Liability Insurance for Thrift Shops2.3. What Types of Product Defects Does Product Liability Insurance Cover?3. Commercial Property Insurance for Thrift Shops3.1. Add-Ons of Commercial Property Insurance for Thrift Shops3.2. Coverage Limits of Commercial Property Insurance for Thrift Shops4. Business Owner’s Policy for Thrift Shops  4.1. Add-Ons of Business Owner’s Policy for Thrift Shops4.2. Coverage Limits of Business Owner’s Policy for Thrift Shops4.3. Do Consumer Protection Laws Apply to Thrift Shops?5. Tools and Equipment Insurance for Thrift Shops5.1. Add-Ons of Tools and Equipment Insurance for Thrift Shops5.2. Coverage Limits of Tools and Equipment Insurance for Thrift Shops6. Commercial Auto Insurance for Thrift Shops6.1. Add-Ons of Commercial Auto Insurance for Thrift Shops6.2. Coverage Limits of Commercial Auto Insurance for Thrift Shops7. Workers Compensation Insurance for Thrift Shops    7.1. Does Workers Comp Fully Cover Lost Wages?7.2. Does Workers Comp Cover Mental Health Costs?8. Thrift Shop Insurance Cost9. Best Thrift Shop Insurance Companies9.1. NEXT Thrift Shop Insurance 9.1.1. Pros 9.1.2. Cons9.2. The Hartford Thrift Shop Insurance 9.2.1. Pros9.2.2. Cons9.3. CoverWallet Thrift Shop Insurance 9.3.1. Pros9.3.2. Cons9.4. Tivly Thrift Shop Insurance 9.4.1. Pros9.4.2. Cons9.5. Thimble Thrift Shop Insurance 9.5.1. Pros9.5.2. Cons 9.6. Hiscox Thrift Shop Insurance 9.6.1. Pros9.6.2. Cons

There are now over 25,000 resale and thrift shops in the US. These are run by startup entrepreneurs. It’s also possible for charities to own thrift shops to fund their initiatives.

Thrift stores are becoming increasingly popular among American consumers. After all, products found in gift shops and other retail businesses are in the inventory of thrift stores at lesser prices. Having insurance is essential when starting a thrift store. Let’s discuss the different policies included in thrift store insurance, how they function, their add-ons, and policy limits.

General Liability Insurance for Thrift Shops


CoverWallet NEXT (Best)Thimble HiscoxThe 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?YesNoIncludedCan be includedNo
Hired/non-owned auto liability coverage included?YesNoExcludedCan be includedCan be included
Equipment breakdown floater included?No YesYesCan be includedCan be included
Can you get a certificate of insurance online?YesYesYesYesYes
Name additional insureds?YesYes
YesYesYes
Deductible$0$0$0$0$0


A thrift store insurance policy with general liability coverage will protect against a third-party claim for injury or property damage from your business operations. Examples of coverage include:

  • A member of the public walks into your thrift store and falls while in the fitting room, getting hurt and requiring medical treatment

  • While shopping, a customer's personal property is damaged due to falling merchandise


Add-Ons of General Liability Insurance for Thrift Shops

  • Hired and non-owned auto–Helps protect your thrift store employee’s vehicles when they are being used for business-related purposes

  • Tools and equipment coverage–Provides financial protection for your thrift shop’s equipment and tools when they get damaged or stolen


Coverage Limits of General Liability Insurance for Thrift Shops

Your thrift shop's general liability coverage will offer a $1 million to $2 million per occurrence and aggregate limit. 


Does My Store Need General Liability Insurance Even If It Is A Small Business?

Yes, general liability insurance is a must-have policy, even for small businesses. Just because you are a smaller business doesn’t mean liability claims will cut you any slack. You will want this policy to maintain adequate protection.


Product Liability  Insurance for Thrift Shops    

Product liability insurance covers your business when it sells a faulty product that causes injury, property damage, or other harm to your customers. Example situations where this thrift shop insurance can help include:

  • An item at your thrift shop breaks and cuts a customer's legs

  • One item you sell has unclear instructions. The customer sustains injuries while using it


Add-Ons of Product Liability Insurance for Thrift Shops

  • Product recall coverage–This helps you recover costs that you might need to make on recalling a product that you sell to customers. These costs can include things like notifying your customers and replacing defective items

  • Excess liability–Extends the coverage limits of your original policy when they run out, or you need supplemental coverage to handle a catastrophic claim


Coverage Limits of Product Liability Insurance for Thrift Shops

A standard product liability insurance policy will offer $1 million per occurrence and $2 million in aggregate. Higher limits are available depending on the policy and the insurer.


What Types of Product Defects Does Product Liability Insurance Cover?

There are three main categories of product defects that might contribute to a lawsuit against your thrift store.

  • Design defects–Defects that are inherent in the design of an item that renders them unsafe to use by customers and the general public

  • Manufacturing defects–Product defects that occur in the assembly stage of the production process

  • Marketing defects–Flaws present when the item is displayed in the store like market claims, not properly labeled, and non-adequate safety warnings

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Commercial Property Insurance for Thrift Shops


CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
Building coverage limit (minimum)$50,000$320,000$25,000/$500,000$75,000$25,000
Contents coverage limit (minimum)$50,000$35,000$25,000/$500,000$75,000$15,000
Outdoor signsExcluded$2,500ExcludedExcludedIncluded
Accounts receivableExcludedExcluded$5,000/$10,000ExcludedIncluded
Money and securitiesExcluded$2,500$1,000ExcludedIncluded
Lock and keysExcluded$2,500ExcludedExcludedIncluded
Business interruption floaterExcludedIncludedIncludedExcludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedExcludedIncluded
Inland marine insurance floaterExcludedExcluded$10,000ExcludedExcluded
Employee dishonesty floaterExcluded$5,000$2,500ExcludedExcluded


Commercial property insurance will help you recover financially from physical damage to your storefront and property contained within. Coverage examples may include:

  • A vandal sprays graffiti on your storefront and breaks several windows

  • Someone starts a fire that spreads to your thrift shop and damages the building


Add-Ons of Commercial Property Insurance for Thrift Shops

  • Outdoor sign protection–Offers coverage to any outdoor signs located outside the range of your business premise that you still want to protect from theft, vandalism, and fire damage

  • Earthquake insurance–This policy will help compensate for a coverage gap in standard commercial property policies because they typically won't cover damage from earthquakes, landslides, or mudslides


Coverage Limits of Commercial Property Insurance for Thrift Shops

Commercial property insurance will protect around $60,000 in damage to your building and contents.