Retail business insurance
No matter what type of retail business you own, we’ll help you protect it with insurance tailored to your specific needs. Speak with a HMS Insurance broker for a quote today.
Protect the Shop Behind the Shopping.
Whether you run a neighbourhood shop, clothing store, specialty retailer, or an online business, selling products comes with risks. Customers can slip in your store, merchandise can be damaged or stolen, or a product could cause injury or property damage.
Retail insurance is designed to protect Ontario businesses from these everyday risks. Coverage can include commercial general liability, building and contents, inventory, equipment, business interruption, and other options tailored to how you operate.
More Than Just a Store.
Your business might have a storefront, an online shop, or both. You may have inventory sitting on shelves, in a warehouse, or on its way to a customer. Your insurance should reflect the way your business actually operates.
You focus on serving your customers and growing your business. We'll help protect everything you've built behind the scenes.
Some recommended retail insurance coverages
Every retail business is different, but most retailers would benefit from the following coverages:
Third party injury or damage
Coverage if someone is hurt in your store or if you accidentally damage their property. It includes legal fees, court-awarded costs and out-of-court settlements.
Commercial property
Covers your store, inventory, equipment and more against fire, storms, burst pipes, vandalism and theft. We can also provide coverage for home-based retail businesses too.
Commercial Auto
For delivery or service vehicles, it covers theft, damage, plus liability and medical costs in case of an accident. Have five or more company vehicles? Ask about fleet insurance.
Cyber coverage
Essential for every retail business, it covers hacks and breaches of point-of-sale systems, lost sales and revenues, and provides you with vital technical recovery, legal and PR support.
Tenant legal liability
If you rent your business space and accidentally damage it, this coverage can help pay for the damage. Think of it as protection for those unfortunate “we may have broken the building” moments.
Business interruption
Replaces lost revenues if damage from a fire, storm or other insured events prevents the business from running.
Other options to consider
Inventory or stock
This protects the value of the inventory you have on hand, whether it be flooring, electronics, produce, paint or whatever else your retail business sells.
Stock in transit
If you deliver or ship products to your customers, this is a valuable coverage that protects the shipment from when it leaves your loading dock until it arrives at their front door.
Employee theft
This protects against financial losses if your staff walks away with cash, stock or other business property.
Sewer and flood
Making sure your commercial property is protected from all types of perils such as sewer and flooding.
No matter the job, we’ve got you
Whichever type of retail business you own we have options. We’ve listed some of them below:
Cosmetic and beauty
Sporting goods
Boutique and specialty
Pet stores
Florists and more
Clothing and apparel
Electronic stores
Grocery stores
Convenience stores
Bookstores
Frequently asked questions about retail insurance
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It can! Commercial property insurance may cover your stock and merchandise against insured events such as fire, certain types of water damage, and theft. Coverage depends on your policy, so it's important to make sure your inventory limits reflect the value of the products you carry, especially during busy seasons.
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Your policy may provide coverage for theft, damage caused by a break-in, and vandalism, depending on the coverage purchased and applicable exclusions. Security systems, alarms, locks, and other protective measures may also affect underwriting and premiums. We'll help you understand what's covered and what conditions apply.
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Business interruption insurance may help replace lost income and cover certain ongoing expenses when an insured event forces your business to temporarily close or reduces its operations. This can help with expenses such as rent, payroll, and other eligible costs while you work toward reopening.
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Yes. Even if you lease your storefront, you're still responsible for protecting your business, inventory, equipment, and operations. Your lease may also require you to carry liability insurance and insure certain improvements or fixtures. Your landlord's policy generally does not cover your business property or your liability.
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Product liability coverage may help protect your business if a product you sell or distribute results in an eligible claim for bodily injury or property damage. This is especially important for retailers selling items such as food, cosmetics, children's products, or other goods that may carry specific risks. Coverage and exclusions depend on the policy.
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You may need additional considerations if your retail business operates online. Your policy should reflect your e-commerce activities, inventory storage, shipping arrangements, and sales territories. Depending on your business, coverage for cyber risks, product liability, and goods in transit may also be important.
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Your commercial liability policy may respond to certain claims involving customer injuries, such as a slip and fall, subject to the policy terms. Employee workplace injuries are generally handled through the applicable workplace insurance system, such as WSIB in Ontario, rather than standard CGL insurance. We'll help you understand the distinction and the coverage your business needs.
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