How to Lower Your Antique Store Insurance Cost: A Complete Guide
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 20
- 2 min read
Antique store owners face unique risks—from fragile, high-value inventory to employee injuries and customer accidents. While business insurance is essential for protecting your store, premiums can be expensive. The good news: there are practical ways to reduce antique store insurance costs without compromising coverage. By understanding the factors that influence your premiums and taking proactive steps, you can safeguard your business while saving money.
1. Improve Store Safety and Security
Insurance providers reward businesses that minimize risks. Implementing strong safety measures can directly reduce premiums. Examples include:
Installing non-slip flooring, proper lighting, and clear walkways to prevent customer falls
Training employees on safe lifting, handling, and moving of antiques and furniture
Securing high-value items in locked cases or cabinets, adding security cameras, and installing alarm systems
These measures not only lower insurance costs but also protect customers, employees, and your valuable inventory.
Read More: OSHA safety guidelines
2. Bundle Insurance Policies
Antique stores often need multiple policies, such as:
Bundling these policies with the same provider can lead to significant savings compared to purchasing them separately. Many insurers also offer discounts for long-term policies or multi-policy accounts.
3. Adjust Coverage Limits and Deductibles
Over-insuring or selecting low deductibles can inflate premiums unnecessarily. Review your store’s actual risks, inventory value, and lease or client requirements to set realistic coverage limits.
Set liability limits appropriate for your store’s size and location
Adjust property coverage to reflect real replacement values
Choose a deductible that balances out-of-pocket risk and premium savings
4. Maintain a Clean Claims History
Insurance companies reward businesses with fewer claims. Maintaining a clean claims record can significantly reduce premiums over time.
Document minor incidents internally rather than filing insurance claims unnecessarily
Conduct regular safety inspections and address hazards promptly
Train staff to minimize accidents or damages
5. Work With a Specialist Insurance Agency
General insurance agents may not fully understand the unique risks of antique stores. A specialist agency can:
Provide accurate, tailored quotes
Recommend cost-saving policy bundles
Ensure proper coverage for employees, vehicles, and high-value inventory
Get an Antique Store Insurance Quote With Wexford Insurance
Wexford Insurance helps antique store owners secure tailored insurance quotes that lower costs while providing full protection for employees, vehicles, property, and inventory. Our team specializes in retail and specialty business insurance.
FAQs
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