Nebraska Retail Store Insurance (NE) – policies and cost

Retail store Liability Insurance in Nebraska  – (NE), is an important type of insurance to have for any individual who conducts business selling to the public from street-front shops.

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 Nebraska? 

But first, a retailer should not to be mistaken for a shop. There are many studios that include the word shop in their name, like auto body shop that are not selling products, but provide repairs to the public.

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The latter mostly has some kind of registered license, and so they need to invest in their own liability insurance in NE. A salesperson in Nebraska is likely to be younger than the average for the state, and to earn less than the average for Nebraska.

Retailers deal in public to sell merchandise to the general public for household consumption and so need Small Business insurance in Nebraska to cover all possible risks.

Retail Store Insurance in Nebraska

General statistics

About 6% of the total labor force in Nebraska was working in the retail sector in 2020. 

Interesting fact – workers in NE are ten time more likely to find jobs in general merchandise stores than in florists.

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What are the common forms of retail store insurance policy types in Nebraska? 

General liability insurance.

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

Professional liability insurance

Almost all retailers in Nebraska will see the need for a policy of at least $10000, and many choose considerably more when their own kind of business warrants it. In some cases, the insurance company in Nebraska gives an incentive to include a deductible of a few hundred dollars, to stop the nuisance of frivolous claims.

Product liability insurance

The ideal level of cover in NE, is worked out on the type of products that the store provides as well as the value of sales.

Commercial vehicle insurance

Immediately after goods leave your premises in Nebraska, your standard insurance stops cover. If you are doing your own distribution with a van, then you need special policy giving you commercial vehicle insurance in Nebraska for the vehicle, the driver and the contents.

Commercial insurance

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

Property insurance

Nebraska carries special risks when it comes to buildings, and any business must take out the proper cover to protect property and contents. 

As well, the possibility of disasters is increasing because of climate change, so every retailer should take care to get all the protection 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 NE, that have hit retail businesses hard. It is wise to get proper insurance 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 Nebraska

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

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

Types of insurance Price range
Public liability insurance $391 – $757
Business income insurance $420 – $1181
Property insurance $1274 – $3660
General liability insurance $507 – $1698
Commercial insurance $1089 – $2571
Commercial vehicle insurance $1952 – $2825

Cost of insurance in Nebraska 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 Nebraska can have a big impact on the cost, and also the type of trade and inventory will.

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For Example – a liquor store on the high street has a much different risk of vandalism than a florist conducting Nebraska 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 Nebraska?

Most retailers in NE, 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 Nebraska . As well, insurance in Nebraska is especially designed to take into account the dangers that can end up costing you a lot of money.

What is considered a retail store and what is not?

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

For example:

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

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

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

Where to find the right insurance?

In every community in Nebraska 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 – 8:30 AM – 6:30 PM
Thursday – 8:30 AM – 6:30 PM
Wednesday – 8:30 AM – 6:30 PM
Thursday – 8:30 AM – 6:30 PM
Friday – 8:30 AM – 6:30 PM
Saturday – 7:30 AM – 1:30 PM

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