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3 Replies Last post: Sep 14, 2009 12:37 PM by jshorter711

How much to pay for insurance on retail business?

Aug 24, 2009 12:01 AM

DeeTee 12 posts since
Aug 16, 2009

I'm in the process of buying a retail business and wanted to get some feedback on what type of coverage other retail owners are using, and also how much they are paying each year?

I have yet to contact my local insurance providers, and will be doing that shortly. But I wanted to get a frame of reference from other owners as well.

Thanks in advance!

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LUCKIEST 7,935 posts since
Aug 6, 2007

1. Re: How much to pay for insurance on retail business? Aug 24, 2009 6:43 AM

How much to pay for insurance,

If you are in the process of buying a retail business you should develop a business plan.
You should also have a lawyer, an accountant and an insurance agent on your side.

Since you are in California, prices might me different from other parts of the US. Shop around.

Good luck, LUCKIEST

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DeeTee 12 posts since
Aug 16, 2009

2. Re: How much to pay for insurance on retail business? Aug 25, 2009 12:21 AM

in response to: LUCKIEST

Thanks Luckiest. I have a lawyer and accountant already, but have been a little slow in getting the insurance quotes. I've since contacted a couple insurance agencies to have them build a policy and get back to me with a quote - So now I'm just waiting to see.

I was hoping others would share a dollar figure on what they are paying and also share any advice on aspects of their policies that they found important or unecessary. I guess I'm always a little leary when it comes to insurance since they, like any other business, are looking to sell as much product as possible.

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jshorter711 4 posts since
Aug 6, 2009

3. Re: How much to pay for insurance on retail business? Sep 14, 2009 12:37 PM

Deetee,

I am an insurnace agent in Dallas. A liability policy for a retail shop shouldnt be more than a few hundred bucks. You might also need a property policy to protect all the items in your store etc...I would love to help you find a policy right for your business. Give me a call at 214.808.4517 or email me at joshs@upshaw-insurance.com. Have a great day.

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ForumsLegal and Insurance

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How much to pay for insurance on retail business?

Aug 24, 2009 12:01 AM

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