What Kind of Insurance Does a Retail Furniture Store Need?
Many companies start with a
Business Owner’s Policy (BOP) for their furniture store insurance needs. A BOP combines three essential types of coverage to help cover claims and protect your furniture store from financial loss. This includes:
- General liability insurance to help cover claims that your furniture store caused bodily injury or property damage to others.
- Commercial property insurance to help protect your owned or rented building, tools, equipment and inventory that you use to operate your furniture store.
- Business income insurance to help replace lost income if you can’t operate your furniture store because of covered property damage. This coverage is also known as business interruption insurance.
Furniture store owners may also need to get other types of coverage for more protection, like:
- Workers’ compensation insurance to help employees recover from a work-related injury or illness. This insurance can help cover medical expenses and replace lost wages.
- Commercial auto insurance can protect you and your employees on the roads while driving a company-owned vehicle for business.
How Much Is Furniture Store Insurance?
Our customers paid an average of $85 a month for a Business Owner’s Policy.1 But be aware that furniture store insurance costs vary because every business is unique and has different needs. To determine costs, insurance companies look at various factors, which can include:
- Location
- Claims history
- Industry
The best way to find out your furniture insurance cost is to
get a quote.