Owned Property
If you are the owner of the real estate, property coverage provides protection against fire, vehicle collision, or severe weather damage to the roof, walls, windows, and any attached signage.
Coverage
Commercial Property Insurance for Convenience Stores
Protect your retail businesses from unexpected fire, robbery, harsh weather and major loss of stock.
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Commercial property insurance for convenience stores protects the physical property of your retail business against sudden and covered disasters. It protects your point-of-sale systems, your store inventory, and your interior furnishings, as well as your physical structure if you have one, against things such as fire, windstorm, vandalism, and burglary. Commercial property insurance is the second critical component of a Business Owner's Policy, in addition to general liability insurance.
What's covered
What Commercial Property Covers
Assessing commercial property insurance for convenience store policies requires consideration of the way coverage protects your physical property assets:
Know the gaps
What It Doesn't Cover
There are certain exclusions in a standard commercial property insurance policy that you need to be aware of and take into account:
Do you need it
Who Needs Commercial Property Insurance
When it comes to whether a convenience store need property insurance policy, the answer is yes. Every single retail store relies on high-value equipment and substantial inventory reserves to operate daily.
When you own your building, lenders need to have it covered before they will grant you a real estate mortgage. Even if the building frame itself is insured by a commercial landlord, commercial landlords practically always require that you have proof of coverage for your interior contents and fixtures as a lease requirement.
Pricing
What Commercial Property Insurance Costs
Commercial property insurance for a convenience store typically ranges from $65 to $150 per month ($800 to $1,800 per year) as a standalone policy. The factors that affect your property insurance cost for a convenience store include building age, building materials, local crime statistics, local weather exposures, and your overall inventory value. Adding security alarms, cameras, and fire suppression systems helps reduce your rate.
Commercial property coverage is typically included with general liability coverage in a Business Owner's Policy (BOP) in order to obtain a reduced combined premium. Check out our full guide to how much convenience store insurance costs.
What a claim looks like
Example Claim
An overnight break-in leaves your front glass entrance and cash register counter broken, with $12,000 worth of stolen tobacco. Commercial property coverage covers structural damage, broken glass, and total inventory replacement, without depleting cash reserves. It also reimburses the full wholesale value of your stolen store merchandise. Your policy gets your doors back open quickly without wiping out your operating cash reserves.
How it fits
How It Fits With Your Other Coverage
Commercial property forms one-half of the foundational protection in a Business Owner's Policy (BOP). General liability covers injury claims against your store, but property coverage protects your physical property. Bundling both essential policies inside a BOP delivers complete core protection at a lower combined rate.
The power of choice
We shop 30+ A-rated carriers so you don't have to.
- Travelers
- The Hartford
- Chubb
- Liberty Mutual
- Nationwide
- Zurich
- CNA
- Progressive
- Philadelphia Insurance
- Berkshire Hathaway GUARD
- biBerk
- AmTrust
- Employers
- Grange Insurance
- Columbia Insurance
- Encova
- Admiral Insurance Group
- Attune
- Coterie
- ERGO NEXT
- AmWINS
- CRC Group
- RT Specialty
- Burns & Wilcox
- Jencap
- Bass Underwriters
- Jimcor Agencies
- CharityFirst
Common questions
Frequently Asked Questions
Do I need commercial property insurance if I lease my store?
Yes. Leasing your building will not protect the contents of your store; rather, it will protect the structure. Commercial property insurance is still required for your registers, coolers, inventory, shelving, and leasehold improvements.
Does commercial property insurance cover flood damage?
No. The typical commercial property policy does not cover damage from rising external floodwaters or coastal storm surges. This requires a separate commercial flood policy.
Get Covered
Protect your retail business equipment, inventory, and store building from unforeseen losses. Contact our expert commercial brokers now and get expert quote comparisons of the best property policies for a competitive price from Insure C-Store.