What Kind of Insurance Does a Convenience Store Need?
- Nate Jones, CPCU, ARM, CLCS, AU
- 13 hours ago
- 2 min read
Convenience stores face unique risks—from property damage and theft to employee injuries and customer accidents. Proper insurance protects your business and ensures compliance with legal requirements.
This guide outlines the types of insurance every convenience store should consider, with detailed explanations for each type of coverage.
Essential Insurance Convenience Store need
General liability insurance protects your business against claims related to third-party injuries, property damage, and legal expenses. This coverage is essential if a customer slips and falls in your store, if merchandise causes damage to a customer’s property, or if someone sues for personal injury.
Key aspects include:
Coverage for medical expenses and legal fees
Protection against lawsuits from accidents on your premises
Important for all businesses that interact with the public
Commercial property insurance protects the physical assets of your store, including the building, inventory, equipment, and signage, from risks such as fire, theft, vandalism, or natural disasters.
Key benefits:
Replaces damaged or stolen inventory
Covers repair or replacement of damaged equipment
Protects your storefront and signage
Ensures continuity of operations after unexpected events
Workers’ compensation insurance is required if you employ staff and covers medical expenses and lost wages for work-related injuries.
Key points:
Protects both the employee and the business from financial loss
Covers injuries such as slips, falls, burns, or repetitive strain
Often required by state law
Helps maintain a safe and compliant work environment
Equipment insurance specifically covers your store’s critical machinery and systems, such as:
Refrigeration units and freezers
POS systems and cash registers
Coffee machines, ice machines, and beverage dispensers
Other essential equipment used in daily operations
This coverage ensures that your store can quickly recover from equipment breakdowns or malfunctions without significant financial strain.
If your convenience store operates vehicles for deliveries, supplier pickups, or fleet services, commercial auto insurance is required.
Key benefits include:
Coverage for property damage or bodily injury caused by business vehicles
Protection for vehicles owned or leased by your store
Liability coverage for drivers while performing business tasks
Optional coverage for vehicle repair, replacement, and medical expenses
Other Optional Coverages
Depending on your business model and location, you may also consider:
Business Interruption Insurance: Provides compensation for lost income if your store must close temporarily due to a covered event.
Cyber Liability Insurance: Protects against financial losses from data breaches or payment system compromises.
Liquor Liability Insurance: Required if you sell alcohol, covering claims related to incidents involving intoxicated customers.
Final Thoughts
Insurance is a vital component of operating a convenience store. Proper coverage protects your business assets, employees, and customers, allowing you to focus on growth and profitability.
Wexford Insurance specializes in convenience store coverage and can tailor policies to meet the unique needs of your business.
Contact us today.
