Storekeeper’s Liability Insurance

What Does Storekeeper’s Liability Insurance Mean?

Storekeeper’s liability insurance is a type of casualty insurance that provides protection against liability for physical injury and property damage arising from the use, maintenance, possession, and ownership of a property or business, including its operations and products. It is the retail-focused version of general liability insurance, tailored to the specific risks that come with having customers walk in and out of a physical shop.

Insuranceopedia Explains Storekeeper’s Liability Insurance

The primary coverage includes bodily injury and property damage caused by an accident occurring on the insured’s business premises. The policy will cover medical expenses to treat bodily injuries sustained by another party when an accident creates a hazardous situation on the store premises or as part of its operations. It also covers the costs of liability suits arising from bodily injury or property damage claims, even if these suits are fraudulent and without basis.

What the policy actually costs depends on the type of store, its location, and how many customers pass through the door each day, so it helps to check retail business insurance cost figures before buying. Small-format retailers like gas stations and corner shops usually pick up this coverage as part of a wider convenience store business insurance policy that also pays out for damage to inventory and the building itself.