Georgia Retail Store Insurance (GA) – policies and cost

Retail store Liability Insurance in Georgia  – (GA), is a must have type of insurance to have for any individual who conducts business selling to the public from street-front shops.

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If you’re a Retail store manager, you must buy retail store liability insurance, and here’s why! 

What actions do retail stores do in Georgia? 

But first, a retailer should not to be confused with a shop. There are many workshops that include the word shop in their name, like auto body shop that are not selling products, but provide work to the public.

The latter generally has some sort of registered license, and so they need to buy their own liability insurance in GA. A first-line supervisor in Georgia is likely to be younger than the average for the state, and to earn less than the average for Georgia.

Retailers deal in public to sell merchandise to other businesses for group consumption and so need Small Business insurance in Georgia to cover all possible risks.

Retail Store Insurance in Georgia

General statistics

About 6% of the total labor force in Georgia was employed in the retail sector in 2020. 

Interesting fact – workers in GA are ten time more likely to find jobs in grocery stores than in florists.

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What are the regular forms of retail store insurance policy types in Georgia? 

General liability insurance.

The normal general liability policy for retail stores in Georgia covers a total of $2 million for the whole year, with a boundary of $1 million for a single event.

Professional liability insurance

Every retailers in Georgia will see the need for a policy of at least $10000, and usually choose substantially more when their own type of business warrants it. In some cases, the insurance company in Georgia gives an incentive to include a deductible of a few hundred dollars, to stop the nuisance of frivolous claims.

Product liability insurance

The recommended level of cover in GA, is calculated on the type of inventory that the store sells as well as the value of sales.

Commercial vehicle insurance

Immediately after goods leave your premises in Georgia, your standard insurance stops cover. If you are doing your own deliveries with a truck, then you must have special policy giving you commercial vehicle insurance in Georgia for the vehicle, the driver and the contents.

Commercial insurance

Retail business depends on stock and a physical shop. This means investing your money into premises and goods, and you cannot afford to let this get damaged. Commercial insurance in Georgia is especially designed to take into account the occurrences that can end up costing you a lot of money.

Property insurance

Georgia carries special risks when it comes to buildings, and every business must take out the appropriate cover to protect property and contents. 

As well, the possibility of floods is increasing because of climate change, so every shop owner should take care to get all the cover necessary to cover even the most remote possibility.

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Business Income insurance

There has been a history of ups-and-downs in GA, that have hit retail businesses hard. It is wise to get proper cover in place before such a calamity occurs, rather than to expect that you can never be hurt.

Average costs of these types of insurance in Georgia

Although every retailer is unique, there are enough examples of standard quotes from insurance companies in Georgia for us to give rough guidelines. Of course, you should always check with an insurance representative of what’s relevant for your business.

The below list is for annual premiums for the main types of insurance retailers need in Georgia.

Types of insurance Price range
General liability insurance $490 – $1250
Commercial insurance $1131 – $2744
Business income insurance $442 – $1280
Property insurance $1015 – $3321
Public liability insurance $378 – $659
Commercial vehicle insurance $1902 – $2682

Cost of insurance in Georgia depends on many different factors

Please remember that the above figures are based on averages for small retail businesses. The size and location of your business in Georgia can have a big impact on the cost, and also the type of trade and inventory will.

For Example – a liquor store on the high street has a much different risk of theft than a florist conducting Georgia retail sales that is located inside a large mall, so the costs of the insurance will be very different.

FAQ section:

Do you need business insurance in Georgia?

Every retailers in GA, will have to have at least some insurance, covering regulations because they are dealing with the public, and also probably to qualify to be permitted to register with a business license in Georgia . As well, insurance in Georgia is especially designed to take into account the dangers that can end up costing you a lot of money.

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What is considered a retail store and what is not?

Some businesses use the word “shop” in their definition, but don’t really act as retailers.

For example:

  • tire shop
  • repair shop
  • auto body shop
  • coffee shop
  • motorcycle repair shop
  • auto repair shop
  • tattoo shop
  • machine shop
  • coffee shop
  • body shop
  • mechanic shop
  • bike shop
  • dram shop

A better wording would be if the business sells several of the following to the public:

  • Food and beverages as in supermarkets, liquor stores, fruit & vegetable grocers and specialty food stores
  • Sport, recreation, and leisure goods.
  • Entertainment, communication, and technology goods.
  • Apparel like babywear, kids, women’s and men’s clothing.
  • Specialty products for narrow sectors, like florists, jewellers.
  • General retail as in department stores and clothing retailers.
  • Books, newspapers, magazines and office supplies.
  • Home living and homeware, trade, and gardening goods.

Where to find the right insurance?

In every city in Georgia you will be able to find a qualified insurance agent or broker that can advise you on your best options. Most independent brokers and agents work six days a week, with the following opening times.

Opening Hours:
Monday – 8:00 AM – 6:00 PM
Thursday – 8:00 AM – 6:00 PM
Wednesday – 8:00 AM – 6:00 PM
Thursday – 8:00 AM – 6:00 PM
Friday – 8:00 AM – 6:00 PM
Saturday – 7:00 AM – 1:00 PM