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Tobacco is as enticing as liquor. Some even claim that smoking soothes their nerves. Operating a tobacco shop comes with unique risks, making it essential for business owners to have comprehensive insurance coverage. For one, this retail business is highly susceptible to fires because stocks can easily catch fire.
Tobacco shop insurance protects against potential liabilities, accidents, and property damage during business operations. This article will explore different types of insurance policies available for tobacco shops, coverage limits, and more. We will also highlight some of the best tobacco shop insurance companies.
| 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 |
General liability insurance is a crucial coverage option for tobacco shops. This type of tobacco store insurance,protects against claims made by third parties for bodily injury, property damage, or personal injury arising from the store’s operations.
When it comes to tobacco store insurance, the coverage limits usually range from $1 million to $2 million. These limits represent the maximum amount the insurance company will pay for covered claims.
Product liability insurance vital coverage option included in tobacconist insurance programs. It provides essential protection against claims arising from harm or injury caused by the products you offer to customers.
Coverage limits for product liability insurance can range from $1 million to $5 million.
When it comes to this type of tobacco store insurance, there may be certain restrictions on the types of tobacco products covered. The coverage and restrictions can vary depending on the insurance provider and policy terms. Reviewing the policy details and consulting with your insurance agent to understand the restrictions that apply to your tobacco store is essential.
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 is vital component of your tobacconist insurance. It provides crucial protection for your tobacco shop’s physical premises and assets, safeguarding against various perils such as fire, theft, vandalism, and other covered events.
The coverage limits for commercial property insurance depend on the value of the property and the specific policy.
It depends on the specific policy and coverage options. Some commercial property insurance policies may include coverage for damages caused by natural disasters, such as hurricanes, earthquakes, or floods. However, reviewing the policy details and discussing specific coverage needs with your insurance provider is important.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | |
|---|---|---|---|---|
| General liability aggregate limit | $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 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes |
A business owner’s policy (BOP) is an inclusion in tobacconist insurance that combines general liability and commercial property insurance. It provides comprehensive protection for tobacco shops, addressing liability claims and property-related risks.
The coverage limits and specifics of a business owner’s policy for tobacconists may vary depending on the insurance provider and the specific requirements of your tobacco shop.
A business owner’s policy is often a suitable insurance solution for small tobacco shops. It combines essential coverages into a single policy, offering convenience and comprehensive protection.
| 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 crucial coverage option for tobacco shop owners to protect their valuable tools, machinery, and equipment. This insurance provides financial protection in case of damage, loss, or theft of these essential business assets.
The coverage limits for the tools and equipment coverage of your tobacco store insurance package will be determined based on the value of the insured items and the specific policy you choose.
When determining the coverage limits, consider the total value of your tools, machinery, and equipment. Evaluate their replacement costs and the potential risks they face in your tobacco shop. It’s essential to ensure that the coverage limits are sufficient to cover the full value of your assets and any potential expenses associated with repair or replacement.
Commercial auto insurance is a vital coverage option for tobacco shops that utilize company-owned vehicles for business operations. This insurance protects against liability and physical damage resulting from accidents involving these vehicles.
When it comes to commercial auto insurance for tobacco shops, the coverage limits can vary depending on the insurance provider and the requirements of your business. Working with your insurance company to determine the appropriate coverage limits for your tobacco shop’s vehicles is crucial.
If you use your vehicle for occasional business-related tasks, your personal auto insurance policy may provide some coverage. However, it’s crucial to inform your insurance provider about the business use of your vehicle, as there may be limitations or exclusions in personal auto policies regarding commercial activities. Consider discussing your specific situation with an insurance company to determine if additional commercial auto insurance is necessary to protect your business adequately.
Workers compensation insurance is a legal requirement for tobacco shops with employees. It provides coverage for medical expenses, lost wages, and other benefits in the event of work-related injuries or illnesses.
The workers compensation policy included in your smoke shop insurance package has no set coverage limit. Payouts depends on the workers comp law of the states where you’re doing business.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $55 | $660 | $0-$500 |
| Commercial property insurance | $65 | $780 | $500-$1,000 |
| Business owner’s policy | $120 | $1,440 | $1,000-$2,000 |
| Tools and equipment insurance | $61 | $732 | $1,000-$2,000 |
| Commercial auto insurance | $73 | $876 | $1,500 |
| Workers’ compensation insurance | $125 | $1,500 | $2,000-$5,000 |
The average tobacco shop insurance cost is $55 per month or $660 per year for a $1 million general liability policy. Premiums can vary depending on several factors. Insurance providers consider factors such as the shop’s location, the value of the property and assets, the coverage limits and deductibles chosen, the number of employees, and the shop’s claims history. Here’s a table showing the cost of a $1 million general liability insurance from companies we recommend:
| Cost per Month | Cost per Year | Best For | |
|---|---|---|---|
| NEXT | $30 | $360 | Best overall; Fastest general liability insurance for tobacco shops |
| CoverWallet | $35 | $420 | Comparing tobacco shop insurance quotes online |
| The Hartford | $39 | $468 | Workers compensation insurance for tobacco shops |
| Tivly | $43 | $516 | Comparing tobacco shop insurance quotes over the phone |
| Thimble | $46 | $552 | On-demand coverage coverage options for tobacco shops |
| Hiscox | $49 | $588 | Customized coverage options for tobacco shops |
Get all the best quotes from leading providers in a click of a button!
When insuring your tobacco shop, choosing the right insurance company is essential. Here are some reputable smoke shop insurance companies 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 is a leading insurance company specializing in meeting the unique needs of tobacco shops. Recognizing the distinct challenges faced by this industry, NEXT Insurance offers comprehensive coverage options specifically tailored to protect your tobacco shop and its assets.
Best for: Best overall; Fastest general liability insurance for tobacco shops
Average cost: $30 per month
Our rating: 10/10
CoverWallet is a highly regarded insurance provider that has earned a strong reputation for its specialized solutions catering to tobacco stores insurance. As a trusted company, they have become synonymous with expertise in addressing the unique risks and challenges faced by businesses in the tobacco industry.
Best for: Comparing tobacco shop insurance quotes online
Average cost: $35 per month
Our rating: 10/10
The Hartford is a trusted insurance company with extensive experience in providing coverage for small businesses, including tobacco shops. Their customizable insurance solutions, commitment to customer service, and additional resources for risk management make them a reliable choice for tobacco shop owners seeking comprehensive coverage and support.
Best for: Workers compensation insurance for tobacco shops
Average cost: $39 per month
Our rating: 10/10
Tivly is an insurance provider specializing in comprehensive coverage options for tobacconist insurance. With their expertise in catering to the unique needs of retail businesses, including tobacco shops, Tivly ensures that your business is well-protected against potential risks and liabilities. Call now to compare quotes over the phone.
Best for: Comparing tobacco shop insurance quotes over the phone
Average cost: $43 per month
Our rating: 9/10
Thimble is an innovative insurance provider that has revolutionized how small businesses, including tobacco shops, access and manage their insurance coverage. With a focus on flexibility and convenience, Thimble offers on-demand policies that can be tailored to fit the specific needs of your tobacco shop.
Best for: On-demand coverage coverage options for tobacco shops
Average cost: $46 per month
Our rating: 8/10
Hiscox is a renowned insurance company that offers comprehensive coverage for small businesses, including tobacco shops. They provide specialized insurance solutions tailored to the unique risks faced by your business. With their expertise and tailored solutions, Hiscox aims to provide comprehensive insurance protection for businesses in various industries.
Best for: Customized coverage options for tobacco shops
Average cost: $49 per month
Our rating: 9/10
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!
10 / 10
Purchased the General Liability policy I needed to fulfill a contract for my hiring party. Simply Business made it very easy to complete an application and review multiple quote options. Ended up purchasing a policy for 1/2 of what I originally was told by my agent.
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.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
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