Lowering Your Liquor Store Insurance Cost Without Cutting Coverage
- Nate Jones, CPCU, ARM, CLCS, AU
- 2 days ago
- 2 min read
The cost for liquor store insurance can be significant, especially with risks like theft, late‑night operating hours, liquor liability exposures, and high‑value inventory. But the good news is that you can reduce your insurance premium without cutting essential coverage. Instead of sacrificing protection, you can make strategic adjustments that improve your risk profile and help insurers offer better pricing.
Here are several proven ways liquor store owners can lower insurance costs without increasing exposure.
1) Strengthen Your Store’s Security Measures
Security has a major impact on insurance pricing. Carriers reward liquor stores with strong loss‑prevention systems. Consider upgrading:
High‑resolution surveillance cameras
Monitored alarm systems
Reinforced glass or window security film
Steel or metal roll‑down gates
Better outdoor lighting
Time‑delay safes
Cash handling procedures
Enhanced security reduces your risk of theft, vandalism, and break‑ins, three of the most common claims in liquor stores. Resources like your state’s Alcohol Control Board and local law enforcement offer best‑practice guides for retail security.
2) Maintain a Clean Claims History
Insurance companies review 3–5 years of past claims when preparing a liquor store business insurance quote. Frequent claims, especially slip‑and‑falls, liquor liability claims, and theft, signal high risk.
To reduce claims:
Install non‑slip flooring
Keep aisles clear
Improve employee training
Add “wet floor” signage
Use ID scanners to reduce liquor liability issues
Reduced claims = reduced premiums.
3) Review Your Inventory Values and Coverage Limits
Over‑insuring your inventory can cause you to pay more than necessary. Under‑insuring creates dangerous coverage gaps.
For accurate pricing, provide insurers with:
Average monthly inventory
Peak seasonal inventory (holidays, events)
High‑value product details
This helps underwriters price your policy accurately.
4) Increase Deductibles Strategically
Raising deductibles, without lowering limits, can significantly reduce your premium. Common deductible adjustments include:
Property deductibles
Crime coverage deductibles
Wind/hail deductibles (depending on state)
Choose deductibles your business can comfortably afford in the event of a claim.
5) Work With a Specialist Who Knows Liquor Store Risks
General agents may not understand the unique exposures liquor stores face, which can lead to higher premiums. A specialised insurance agency like Wexford Insurance knows which carriers offer the best rates, liquor liability programs, property discounts, and preferred retail coverage packages.
Get the Best Price on Liquor Store Insurance Today
Not all insurance companies write liquor stores, and pricing varies based on security measures, inventory values, location, operating hours, and claims history. Wexford Insurance partners with top carriers that specialise in liquor store insurance, helping owners secure the right limits, deductibles, and policy forms, without sacrificing coverage.
👉 Request your liquor store business insurance quote from Wexford Insurance today and ensure your inventory, income, and business stay fully protected.
