Retail business insurance ranges from $30 to $117 monthly, with an average cost of $63 per month based on your state and coverage.
Get matched with cheap retail business insurance below.
Updated: November 10, 2025
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Retail business insurance costs range from $362 to $1,409 annually on average, depending on coverage type, state and sub-industry.
Your retail insurance premiums depend on location, claims history and how many employees you have.
Shop multiple business insurers, bundle policies, raise deductibles and pay annually to find affordable retail business insurance costs.
We found average business insurance costs for retail companies for commonly needed coverage are as follows:
| BOP | $98 | $1,174 |
| General Liability | $66 | $790 |
| Professional Liability (E&O) | $55 | $658 |
| Workers' Comp | $35 | $420 |
Note: We based these rates on small businesses with two employees across 79 major industries, focusing on four coverage types: general liability, professional liability/errors and omissions (E&O), workers' comp and business owner's policy. Your actual rates will vary based on your specific business factors and location.
Select your industry and state to get a customized quote.
Your retail business insurance cost for general liability coverage varies dramatically by state. Maine delivers the best value at $57 monthly, well below the $66 national average, while Louisiana costs $79 monthly.
| Alabama | $64 | $770 |
| Alaska | $61 | $733 |
| Arizona | $62 | $748 |
| Arkansas | $63 | $756 |
| California | $73 | $878 |
| Colorado | $65 | $782 |
| Connecticut | $71 | $857 |
| Delaware | $70 | $843 |
| Florida | $71 | $854 |
| Georgia | $67 | $801 |
| Hawaii | $72 | $860 |
| Idaho | $62 | $748 |
| Illinois | $72 | $866 |
| Indiana | $64 | $769 |
| Iowa | $63 | $751 |
| Kansas | $64 | $766 |
| Kentucky | $61 | $733 |
| Louisiana | $79 | $951 |
| Maine | $57 | $683 |
| Maryland | $63 | $752 |
| Massachusetts | $69 | $827 |
| Michigan | $62 | $747 |
| Minnesota | $62 | $739 |
| Mississippi | $66 | $792 |
| Missouri | $65 | $776 |
| Montana | $65 | $785 |
| Nebraska | $62 | $746 |
| Nevada | $75 | $895 |
| New Hampshire | $65 | $784 |
| New Jersey | $74 | $894 |
| New Mexico | $66 | $793 |
| New York | $76 | $917 |
| North Carolina | $57 | $683 |
| North Dakota | $57 | $686 |
| Ohio | $61 | $732 |
| Oklahoma | $65 | $785 |
| Oregon | $61 | $732 |
| Pennsylvania | $76 | $910 |
| Rhode Island | $72 | $866 |
| South Carolina | $68 | $812 |
| South Dakota | $61 | $737 |
| Tennessee | $64 | $769 |
| Texas | $66 | $795 |
| Utah | $63 | $751 |
| Vermont | $63 | $757 |
| Virginia | $60 | $718 |
| Washington | $75 | $897 |
| West Virginia | $69 | $827 |
| Wisconsin | $64 | $774 |
| Wyoming | $61 | $729 |
Note: We based these general liability rates on retail businesses with two employees across different states. Your rates will vary based on your location, claims history and the services you provide.
The cost of workers' comp insurance for retail businesses differs across states. North Carolina provides the most affordable rates at $30 monthly, while New York charges $40 monthly. State regulations and claim histories drive these pricing differences.
| Alabama | $35 |
| Alaska | $32 |
| Arizona | $33 |
| Arkansas | $34 |
| California | $39 |
| Colorado | $34 |
| Connecticut | $38 |
| Delaware | $38 |
| Florida | $38 |
| Georgia | $36 |
| Hawaii | $37 |
| Idaho | $33 |
| Illinois | $38 |
| Indiana | $34 |
| Iowa | $33 |
| Kansas | $34 |
| Kentucky | $33 |
| Louisiana | $40 |
| Maine | $30 |
| Maryland | $33 |
| Massachusetts | $36 |
| Michigan | $33 |
| Minnesota | $33 |
| Mississippi | $35 |
| Missouri | $35 |
| Montana | $35 |
| Nebraska | $33 |
| Nevada | $40 |
| New Hampshire | $35 |
| New Jersey | $40 |
| New Mexico | $35 |
| New York | $40 |
| North Carolina | $30 |
| Oklahoma | $32 |
| Oregon | $32 |
| Pennsylvania | $40 |
| Rhode Island | $38 |
| South Carolina | $36 |
| South Dakota | $33 |
| Tennessee | $34 |
| Texas | $35 |
| Utah | $33 |
| Vermont | $33 |
| Virginia | $32 |
| West Virginia | $37 |
| Wisconsin | $34 |
Note: We based these workers' comp rates on retail businesses with two employees across different states. Your workers' comp requirements and costs will vary by state since each has different regulations.
With Nationwide, your professional liability cost averages $55 monthly. North Carolina offers the most affordable rates at $47 monthly, while New York ranks highest at $63 monthly.
| Alabama | $54 |
| Alaska | $50 |
| Arizona | $52 |
| Arkansas | $52 |
| California | $60 |
| Colorado | $55 |
| Connecticut | $60 |
| Delaware | $59 |
| Florida | $60 |
| Georgia | $56 |
| Hawaii | $58 |
| Idaho | $52 |
| Illinois | $59 |
| Indiana | $54 |
| Iowa | $52 |
| Kansas | $53 |
| Kentucky | $50 |
| Louisiana | $63 |
| Maine | $48 |
| Maryland | $53 |
| Massachusetts | $58 |
| Michigan | $51 |
| Minnesota | $51 |
| Mississippi | $55 |
| Missouri | $55 |
| Montana | $55 |
| Nebraska | $52 |
| Nevada | $62 |
| New Hampshire | $54 |
| New Jersey | $63 |
| New Mexico | $56 |
| New York | $63 |
| North Carolina | $47 |
| North Dakota | $48 |
| Ohio | $51 |
| Oklahoma | $51 |
| Oregon | $51 |
| Pennsylvania | $63 |
| Rhode Island | $60 |
| South Carolina | $55 |
| South Dakota | $52 |
| Tennessee | $53 |
| Texas | $56 |
| Utah | $53 |
| Vermont | $52 |
| Virginia | $49 |
| Washington | $62 |
| West Virginia | $57 |
| Wisconsin | $54 |
| Wyoming | $50 |
We based these professional liability rates on retail businesses with two employees across different states. Your actual rates will depend on your services offered and location.
Business owner's policy coverage shows price differences across the state. BOP insurance cost ranges from $83 in North Carolina to $117 in Louisiana for the same coverage.
| Alabama | $96 |
| Alaska | $91 |
| Arizona | $92 |
| Arkansas | $92 |
| California | $109 |
| Colorado | $97 |
| Connecticut | $108 |
| Delaware | $105 |
| Florida | $105 |
| Georgia | $100 |
| Hawaii | $109 |
| Idaho | $93 |
| Illinois | $109 |
| Indiana | $94 |
| Iowa | $93 |
| Kansas | $96 |
| Kentucky | $91 |
| Louisiana | $117 |
| Maine | $84 |
| Maryland | $94 |
| Massachusetts | $102 |
| Michigan | $95 |
| Minnesota | $92 |
| Mississippi | $100 |
| Missouri | $98 |
| Montana | $98 |
| Nebraska | $90 |
| Nevada | $109 |
| New Hampshire | $96 |
| New Jersey | $113 |
| New Mexico | $98 |
| New York | $114 |
| North Carolina | $83 |
| North Dakota | $86 |
| Ohio | $88 |
| Oklahoma | $96 |
| Oregon | $89 |
| Pennsylvania | $114 |
| Rhode Island | $110 |
| South Carolina | $100 |
| South Dakota | $90 |
| Tennessee | $94 |
| Texas | $98 |
| Utah | $92 |
| Vermont | $92 |
| Virginia | $89 |
| Washington | $112 |
| West Virginia | $100 |
| Wisconsin | $97 |
| Wyoming | $90 |
BOP rates are based on retail businesses with two employees across different states. Your actual rates will vary based on your business size, location, and coverage needs.
Retail business insurance costs vary by provider, ranging from $43 monthly with Nationwide to $85 with Hiscox.
| Chubb | $76 | $910 |
| Coverdash | $69 | $823 |
| Hiscox | $85 | $1,024 |
| NEXT Insurance | $53 | $640 |
| Nationwide | $43 | $517 |
| Progressive Commercial | $80 | $963 |
| Simply Business | $69 | $833 |
| The Hartford | $51 | $607 |
| Thimble | $67 | $801 |
| biBERK | $46 | $550 |
Retail business insurance costs vary based on multiple factors insurers review when setting your premium rates.
Store placement affects theft exposure, foot traffic risks and natural disaster vulnerability. Retailers in high-crime neighborhoods or regions prone to hurricanes and earthquakes have steeper insurance costs than those in stable, low-risk areas.
Customer slip-and-falls and theft incidents create ongoing liability and property loss claims. Previous losses from shoplifting, premises accidents or employee theft continue impacting your renewal pricing long after incidents occur.
Selling clothing or home goods presents different exposures than electronics or jewelry stores. High-value merchandise attracts organized retail crime, while products with liability concerns like supplements or children's items require additional coverage considerations.
Retail work involves lifting, ladder use and repetitive motion that creates workers' comp exposure. Every sales associate, stock clerk and manager adds to your payroll-based premiums, though retail classifications cost less than high-hazard trades.
Retail businesses face different risks based on location type. Brick-and-mortar stores create premises liability. E-commerce adds cyber liability and shipping risks. Pop-up locations and market booths need specialized coverage.
Sales volume indicates your customer traffic and inventory turnover, which affect risk. Small boutiques earning $150,000 annually with minimal foot traffic face different rates than busy stores generating $800,000 with constant customer flow.
General liability protects against customer injuries and property damage claims. Standard policies often provide $1 million per occurrence, though retailers in malls or landlord-managed properties may need $2 million to satisfy lease requirements.
Retail's thin margins make financial health a key underwriting consideration. Established stores with strong credit secure preferred pricing, while new retailers or those with financial struggles encounter surcharges or difficulty getting coverage.
Keeping your retail business insurance costs low starts with smart planning and informed choices. Our step-by-step guide walks you through proven ways to shop strategically and manage risk so you can secure the best cheap business insurance for your retail operation and maintain stronger protection as your business grows.
Retail businesses need general liability for customer slip-and-falls and injuries, product liability for defective merchandise causing harm and commercial property for inventory, fixtures, and equipment.
Add business interruption to replace lost income during closures, workers' compensation for employees, employment practices liability for wrongful termination claims, cyber liability if you process credit cards and crime coverage for employee theft or robbery.
Retail premiums vary widely based on what you sell. Due to theft risk and product liability exposure, jewelry and electronics cost more to insure than clothing or home goods. Retail-focused insurers better understand seasonal inventory fluctuations, foot traffic patterns, and shrinkage risks than general carriers.
A business owner's policy combining general liability, property and business interruption saves 20% to 28% compared to separate policies. Many insurers offer retail packages that include crime coverage and equipment breakdown at reduced bundle rates.
Higher property deductibles of $2,500 to $10,000 can reduce premiums by 22% to 32%, but consider your peak inventory levels during holiday seasons. Keep general liability deductibles low since slip-and-fall claims or product liability lawsuits can escalate quickly, especially with serious injuries.
Monthly payment plans add 5% to 11% in installment fees, which on an $8,000 retail policy costs $400 to $880 extra annually. Paying annually eliminates these charges, earning 6% to 9% discounts from retail carriers.
Review your policy whenever you open additional locations, expand product lines, or increase inventory value during peak seasons. If you've installed security systems, upgraded to monitored alarms or implemented loss prevention programs, these improvements can qualify for substantial premium discounts.
Retail business insurance ranges between $30 and $117 per month, but your actual premium depends on factors like your location, business size and claims history. You can often reduce costs by comparing quotes from several insurers, bundling multiple policies, selecting higher deductibles and choosing annual payments instead of monthly ones.
Retail business owners commonly ask about insurance costs. We answered the most frequent questions below:
Workers' compensation is the cheapest at $35 monthly, though it only covers workplace injuries. Most retail businesses require general liability insurance ($66 monthly) for protection against customer incidents and property damage lawsuits.
You'll pay more in these states. General liability in California runs $73 monthly (versus $66 national average), and BOP costs $109 monthly (versus $98 average). New York is similar at $76 and $114, respectively.
Combining multiple business insurance policies with one insurer delivers greater savings than purchasing them individually. Insurers reward bundling by offering discounts when you package general liability, commercial property and commercial auto coverage together.
Higher premiums result from multiple risk factors: valuable inventory, high customer traffic, theft exposure, premises liability risks, expensive equipment, poor credit history, previous claims and operating in crime-prone areas.
Higher deductibles reduce monthly premiums but increase out-of-pocket costs during claims. Your decision should depend on available cash flow and anticipated claim frequency.
Workers' compensation costs for retail businesses vary from $30 monthly in North Carolina to $40 monthly in New York.
Yes, BOP insurance is worth the extra cost. BOP costs $98 monthly and combines general liability, commercial property and business interruption coverage.
Shop annually when your policy renews.
Retail businesses face unique insurance challenges from slip-and-fall accidents on their premises, shoplifting incidents that can escalate to violence, and product liability claims when merchandise injures customers or causes property damage. We built this analysis to show you what coverage actually costs based on real business profiles, so you can budget accurately and find insurers who understand retail industry risks.
We collected retail business insurance quotes from companies across different states using a standardized business profile for accurate comparisons. Every quote used the same setup: two employees (three people total, including the owner), $150,000 annual payroll, $300,000 annual revenue, and already insured status to reflect established businesses rather than startups. We quoted coverage at $1 million per occurrence and $2 million total per year for all coverage types except BOP, which includes the same limits plus $5,000 business property coverage for inventory, fixtures, and equipment.
This profile represents a typical small retail business requiring comprehensive coverage, whether you're running a clothing bout
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
