Shop and Retail Store Insurance in Ontario

A retail store commonly requires commercial general liability, products liability, stock, contents and business interruption coverage. Building insurance may also be required when the business owns the property.

Stock and inventory can be covered against insured losses, subject to the policy limit and deductible. The limit should reflect the maximum inventory value that could be at the location, including seasonal increases.

Commercial general liability may respond when a customer alleges that the business caused their injury, such as following a slip and fall. Coverage depends on the policy terms and circumstances.

Commercial property insurance may cover certain theft losses. Coverage depends on what was stolen, how the theft occurred and the applicable policy terms, limits and deductibles.

Business interruption coverage may help replace lost income when insured property damage forces the store to close or reduce its operations.

Yes. Online retailers may require stock, products liability, cyber and property-in-transit coverage. Insurers will want to know where inventory is stored and where products are sold.

No. A landlord's policy generally does not cover the tenant's inventory, equipment, improvements, lost income or liability. The lease may also require the store to maintain specific insurance.

There is no single shop insurance policy required for every Ontario retailer. However, landlords, lenders, franchisors and other parties may require specific coverage or proof of insurance.