General Merchandise Store Insurance Cost
Retail Insurance Cost Analysis

Irrespective of business size or policies purchased, the average cost of retail insurance for general merchandise stores in 2014 was $760.44. The median cost was $500.

What they buy.

General Merchandise stores constitute the largest class of retail stores covered by Insureon (31%). Can we say something about how this minor is made up of a wide variety of stores? Maybe someone working the sales desk can tell us.

Among retail stores classified as General Merchandise Stores, 48% buy General Liability Insurance, 42% buy a BOP and 12% buy WC.

Of those buying GL, 12% buy $500K/$1M; 72% buy $1M/$2M; 16% buy $2M/$4M.

General Liability Insurance?

How much is General Liability Insurance for General Merchandise Stores?

General merchandise stores ($589.17) pay pretty much the same as retailers in general ($591.13) and small businesses in general ($591.45) for a $1M/$2M General Liability Insurance.

a BOP?

How much is a Business Owner's Policy for General Merchandise Stores?

General stores pay significantly less for a BOP ($803.61) than retailers in general ($965.29) and slightly more than small businesses in general ($769.94).

Workers' Comp?

How much is Workers' Compensation Insurance for General Merchandise Stores?

General merchandise stores pay significantly less for Workers' Compensation insurance ($1,168.44/year or $326.18/employee/year) than do Insureon's retail clients in general ($1.430.49/year or $603.87/employee/year), but more than our average small business client ($656.78/year or $401.17/employee/year).

Grab-n-Go Information

Retail Risk eBook
Data Breaches & Retail: A Guide for Small-Business Owners
Browse eBook
Sample certificates
See a sample Certificate of Liability Insurance, the proof of coverage you need for most contracts.
View Sample
Sample Quotes & Cost Estimates
See what insurance really costs: actual quotes by policy & specialty.
Get Estimates
Ask A Question
Submit your questions about small business insurance and get answers from our experts.
Read Answers