Table of contents
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.
| 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 |
| 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 |
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
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
Your thrift shop’s general liability coverage will offer a $1 million to $2 million per occurrence and aggregate limit.
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 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
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
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.
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
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 | $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 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 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
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
Commercial property insurance will protect around $60,000 in damage to your building and contents.
_LNzAb6M4Z.png)
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability 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 |
| Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $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 is an insurance package that combines general liability coverage and commercial property coverage. Policyholders also have the option to add additional coverages as well. Examples include:
Someone steals your business property
A customer slips and falls on a wet floor in your thrift store
Cyber liability–BOPs with cyber liability coverage will protect your business from the costs of data breaches, cyber-attacks and alerting customers to such incidents
Employment practices liability–Offers protection for your thrift shop if it gets sued by an employee for discrimination, harassment, or another work-related claim
A thrift store’s business owner’s policy will have around $1 million in general liability and $50,000 in commercial property protection.
Yes, according to the Consumer Product Safety Commission, resale thrift shops still have to follow guidelines for their products. This includes recalls and ensuring the inventory is safe for the general consumer and compliant with relevant federal laws. With a BOP, you can insert additional policies to help you in these events.
| 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 protects business property even when used away from your business premises. Examples to use this coverage include:
A thief steals the tools you need to help keep your shop tidy and orderly
A covered event of physical damage like a fire causes damage to your equipment, and it needs to be replaced
Business interruption–Helps compensate your business when it is forced to operate at a reduced capacity due to a tool or piece of equipment malfunctioning or being stolen
Flood damage–Protects your thrift shop’s tools and equipment if they get damaged in an extreme flooding event or another water-related incident
Tools and equipment insurance for thrift shops will protect movable tools for $5,000 to $20,000. Be sure to ask your insurer about higher limits.
Commercial auto insurance protects business vehicles when they are used in service of your thrift store. It provides three primary sources of protection, which include:
Auto liability–Protects you from liability claims that are related to your business vehicle. This will cover the medical expenses and property damage of third parties
Comprehensive–Helps you pay for damage to your vehicle that results from physical damage like vandalism and fire
Collision–Adds protection against repair costs when your vehicle gets into a collision accident with another vehicle
Medical payments–Provides benefits to drivers and passengers in your business vehicles when they get injured, regardless of who is ultimately found at fault for the accident
Roadside assistance–Helps your thrift shop business vehicles when they break down at the side of the road and need services or towing
Commercial auto insurance for thrift shops has an auto liability coverage limit of $25,000 per injury, $50,000 per accident, and $15,000 per property damage. This is just the minimum.
Workers’ compensation insurance protects your employees from the costs of getting injured or sick while at work. Example situations to use this coverage include:
A worker cannot work due to falling while on the job and needs compensation for lost wages
One of your employees suffers an injury that requires medical treatment and medication
No, workers comp will calculate your average weekly wage and then pay a benefit based on a percentage of this calculation.
Sometimes. Typically a workers comp policy will not cover emotional injuries that result from a physical workplace event. However, some conditions can get coverage, but they are harder to prove than physical ones. Commonly covered mental health conditions include stress, anxiety disorders, depression, and post-traumatic stress disorder.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $32 | $384 | $0-$500 |
| Commercial property insurance | $50 | $600 | $1,000-$2,000 |
| Business owner’s policy | $82 | $984 | $1,500 |
| Commercial auto insurance | $45 | $540 | $500-$1,000 |
| Tools and equipment insurance | $36 | $432 | $500-$1,000 |
| Workers compensation insurance | $72 | $864 | $2,000-$5,000 |
The average thrift shop insurance cost is $32 per month or $384 per year for a $1 million general liability insurance. Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, and number of employees. Here’s a table showing the cost of a $1 million general liability insurance from the best companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $18 | $216 | Best overall; Fastest general liability insurance for thrift stores |
| The Hartford | $20 | $240 | Workers compensation insurance for thrift stores |
| CoverWallet | $22 | $264 | Comparing thrift store insurance quotes online |
| Tivly | $24 | $288 | Comparing thrift store insurance quotes over the phone |
| Thimble | $26 | $312 | On-demand coverage for thrift stores |
| Hiscox | $29 | $348 | Thrift store insurance with automatic renewal |
Get all the best quotes from leading providers in a click of a button!
Here are the companies to consider for the best thrift shop insurance. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for thrift stores
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Coudln’t find any
NEXT is an online insurer that offers customized policies and affordable coverage for thrift stores. They offer important policies like general liability, commercial property, and workers’ compensation. Next has an A- from AM Best and is accredited with a B+ with the Better Business Bureau.
Best for: Best overall; Fastest general liability insurance for thrift stores
Average cost: $18 per month
Our rating: 10/10
Renowned company for workers compensation insurance
Over 200 years of underwriting experience
Can underwrite specialized policies for high-risk customers
Some users report difficulties with reaching customer service at certain times
The Hartford serves over one million small businesses with excellent business policies. Thrift store owners will find options like workers comp, commercial auto, business owner’s policy, and more. The Hartford maintains a strong A- from AM Best for its financial strength.
Best for: Workers compensation insurance for thrift stores
Average cost: $20 per month
Our rating: 10/10
Compare quotes online
HNOA coverage automatically added to general liability insurance
Discounted premiums if you decide to pay for the whole year
Easy online policy management
Not an insurance company but an insurance broker
CoverWallet partners with Hiscox, Progressive, Markel, and more to deliver important thrift stores policies like business interruption, workers comp, crime insurance, and business owner’s policy. This company allows you to compare quotes online. After purchasing insurance, you can easily manage policies through this company’s MyCoverWallet dashboard.
Best for: Comparing thrift store insurance quotes online
Average cost: $22 per month
Our rating: 10/10
Will quickly answer your phone call
Helps you narrow down policies and connect you with insurers
Compare quotes over the phone
You need to talk to a representative to get a quote
Tivly is an online insurance platform with over 200 partners to pick out your thrift store insurance components from. They offer various options like general liability, workers’ compensation, and commercial property insurance. The company has over 20 years of experience with connecting customers to insurers. Call now to compare quotes over the phone.
Best for: Comparing thrift store insurance quotes over the phone
Average cost: $24 per month
Our rating: 10/10
Lets you scale policies with your business growth
Numerous add-ons to general liability insurance and business owner’s policy
Quickly issues an estimate of your rates
You can’t reach customer service by calling
Thimble is a fast-growing insurance company that offers you quick quotes and ways to get coverage fast. Their website has resources for first-time buyers. Policies available are general liability, commercial property, business owner’s policy, and workers’ compensation insurance. Commercial auto insurance is available, but you’ll be referred to partners.
Best for: On-demand coverage for thrift stores
Average cost: $26 per month
Our rating: 10/10
Worldwide coverage
14-day money-back guarantee
Adjust coverage limits easily
Helps you customize your policy
Limited options compared to competitors
Hiscox offers customizable business insurance that is specialized for small business customers. They have experience with hundreds of professions and offer key thrift stores policies like general liability, cyber security, and workers comp. Hiscox offers a 14-day money-back guarantee. Nonetheless, we recommend working with this company in the long run because it automatically renews your coverage.
Best for: Thrift store insurance with automatic renewal
Average cost: $29 per month
Our rating: 10/10
2 / 10
I purchased a year long policy for my small business I paid for the year up front. First they sent me the incorrect paperwork and acted as if I had something to do with the mistake. About three weeks later I received a bill for the policy. I then sent countless email as the payment did clear my account. About a week later I'm told they have no record of my payment. Now I have to send any documents proving I said then. It went on for weeks. More requests of proof from this person then another.... Read More
10 / 10
Simple online quoting and purchase. excellent mobile app. claims filing via phone, website or app. Combines competitive rates with excellent customer experience. Progressive provides all of the coverage a small business needs. not to mention its financial strength
10 / 10
Excellent business insurance coverage tailored to your business needs in good rates, professional customer service, pays claims fast and fairly. Recommended!
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
2 / 10
I never purchased the policy. The person I spoke with "Bruce" was condescending and argumentative. He kept repeating himself and talking in circles telling me what I HAVE TO DO, basically trying to bully me into purchasing commercial insurance. I wouldn't use this company if they were paying me!
9.8 / 10
Chubb provides business insurance coverage for all size of businesses, from small local ones to huge multinational corporates, they are very fast to respond to your claims, their business insurance coverage is very advanced while being tailored to your needs, aka covering you from all sides without over-covering you to make you pay more like some companies do. I'm a very satisfied customer.
9.7 / 10
Very annoyed in 2020 they do not offer online quotes, however they are great at everything else. The coverage is amazing, customer service is world class, value of money is great (even when their rates are not the cheapest), fast and excellent handling of claims, very dedicated and business focused. The only other issue is since they cover all types and sizes of businesses, they do not seem to specialize in any of them specifically.
2 / 10
I purchased a year long policy for my small business I paid for the year up front. First they sent me the incorrect paperwork and acted as if I had something to do with the mistake. About three weeks later I received a bill for the policy. I then sent countless email as the payment did clear my account. About a week later I'm told they have no record of my payment. Now I have to send any documents proving I said then. It went on for weeks. More requests of proof from this person then another.... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
Simple online quoting and purchase. excellent mobile app. claims filing via phone, website or app. Combines competitive rates with excellent customer experience. Progressive provides all of the coverage a small business needs. not to mention its financial strength
0 / 10
State Farm's business insurance was such a bad choice for us. Worst communication, very unprofessional. Been insured for over 12 years through a local statefarm agent who we were having insurance for our own home, our personal cars, our own health insurance, workers compensation, all of our commercial autos that serve our business - our agent didn't inform us of raising our premium rates, of certain inspections, and send us very rude emails upon our policy cancellations that were caused by his... Read More
10 / 10
Extremely helpful, kind and knowledgable customer service team! I received a business insurance package that was tailored and personalized to my exact business needs! Excellent liability insurance. Their pricing for business insurance is not the most affordable you'll find, however it's better to pay more and know that you are covered well. We got coverage for $1M. In regards to claims, I haven't had any experience so cannot attest, but the rest was excellent so I'm sure claims will be great as... Read More
10 / 10
Customer service is fast and efficient. They were very caring about issues that we faced, checked them all and resolved our claims fast. State Farm is an excellent company. They gave us excellent business insurance coverage that was customized to our precise needs. We worked together to build the most suitable coverage to our needs, nothing more or less, while making sure the rate is good enough. State Farm's business insurance cost was very good compared to other companies, while maintaining a... Read More
10 / 10
Excellent business insurance coverage tailored to your business needs in good rates, professional customer service, pays claims fast and fairly. Recommended!
10 / 10
highly recommended!
10 / 10
Their business insurance products are by far the best business decision I've made financially. Got us covered when we needed it and for such a bargain cost. Couldn't recommend more!
10 / 10
Excellent business insurance policies at cheap rates. Claim process was easy and helped us cover financial loss.
10 / 10
Great rates and excellent service. Our business feels safe.
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
Not all those who wander are lost.
Disclosure: Insuranks.com is an independent educational comparison service and an advertising-supported publisher. Some of the companies/offers that appear on the website are from our partners which we may receive compensation from. This may influence which companies/offers we write about and where and how it appears on the site. However, this does not impact our assessments. We solely highlight companies, products, and offers that can help you make smarter insurance decisions.
