NAVIGATING CANADA’S RETAIL LANDSCAPE
Protecting retailers from today’s risks
Running a Canadian retail business requires navigating distinct challenges, from local market fluctuations to supply chain issues, and evolving customer expectations. Whether you own a single small shop or multiple retail outlets with a large inventory and staff, Navacord is here to help protect your business.
As one of Canada’s largest independent insurance brokerages, our extensive network of insurers will ensure you secure competitive insurance solutions customized to your needs.
TAILORED TO RETAILERS
Retail expertise you can rely on
For decades, Navacord has supported local Canadian retailers of all sizes with personalized, hands-on service and insurance solutions tailored to your unique retail operations. Our in-house retail experts provide guidance to balance your coverage needs with your budget.
We also deliver risk management support to help you minimize exposure and reduce costs. Our claims team is here to advocate, guide and support you if you ever need to file a claim. Let us help safeguard your business, your customers, and your peace of mind.
Who we help
Whether you sell products online or from a physical storefront, retail business insurance is essential to protect your operations, inventory, and reputation. We provide specialized retail insurance to cover a range of businesses from coast to coast, including:
For shops that sell apparel, shoes, accessories, and more, we provide coverage that protects your inventory, employees, and customer experience.
Protect your flowers, refrigeration equipment, and business against losses that could disrupt your everyday operations.
From perishable food items to fridge equipment, we’ll create a coverage plan to help you confidently stock your shelves.
Safeguard your inventory, equipment, and property from unexpected events with comprehensive coverage.
More businesses we help
If your shop sells unique gifts or niche products, we can provide the right coverage to protect your merchandise and business operations.
Our coverage can protect your inventory and property from the unexpected, so you can serve pet owners with peace of mind.
We can help protect your specialized printing equipment, supplies, and business from damages, breakdowns, and other business interruptions.
Managing retailers’ most common challenges
We’ll take the time to understand your operations and recommend a custom coverage plan to suit your needs. While every retail business is unique, these are some of the most common risks retailers face:
If a customer gets injured at your shop and sues for negligence, commercial general liability insurance can help cover medical costs, legal defense, and potential settlement expenses.
If there's a break-in at your business, property insurance can help cover inventory replacement and repairs, while business interruption insurance can offset lost income while your business recovers.
If a product you sell causes property damage or injures a customer and they file a lawsuit, product liability insurance can help cover legal expenses.
If there's a cyberattack on your website or point of sale system that causes a business interruption, reputational harm or exposes customer data, cyber liability can help cover restoration costs, losses, and legal expenses.
PROTECTING SHOPS OF ALL SIZES
Essential coverage for retailers
Our retail insurance coverage is designed to protect your property, inventory, employees, and operations, whether you’re managing in-store sales, online transactions, or both. Your specific coverage options can be tailored to your business and the risks you face, helping you stay focused on growing your sales.
- Commercial general liability
Commercial general liability
This important coverage protects you if a customer is injured or their property is damaged at your store by covering legal and medical costs.
- Home-based business
Home-based business
If you run your retail business from home, the right combination of coverages can protect your inventory and shield your business from liabilities that your standard home insurance won’t cover.
- Property
Property
This critical coverage for retailers protects your building, equipment, and inventory from commonly insured incidents such as fire, theft, or vandalism.
Tenants’ improvements
This can cover improvements and upgrades you’ve made to your rented retail space, such as flooring, fixtures, shelving, and other features.
Product liability
When a product you sell causes unexpected injury or property damage, this insurance can help cover the legal and financial costs of a claim.
- Equipment breakdown
Equipment breakdown
This can help cover repair or replacement costs needed to address mechanical or electrical equipment failures, which are not typically covered by standard property insurance.
Additional protection for your retail business
- Business interruption
Business interruption
This coverage helps you pay for expenses and temporary relocation if your business needs to close due to a covered event like a fire, flood, or mandatory evacuation.
- Crime
Crime
Retailers should invest in this coverage to protect against employee theft, fraud, and other business-related crimes.
- Cyber
Cyber
Critical for retail businesses handling personal customer information, this coverage helps you respond to data breaches or cyberattacks.
- Employment practices liability (EPL)
Employment practices liability (EPL)
Protect your business from legal costs and damages related to employment issues such as wrongful termination, harassment, or discrimination claims.
- Commercial auto
Commercial auto
If you use vehicles for business purposes such as making deliveries, commercial auto coverage is vital.
FAQs for retail
Whether you sell products online or from a physical storefront, retail insurance delivers essential coverage to protect your operations, inventory, employees, customers, and reputation. From small boutiques to high-traffic multi-location stores, we provide comprehensive insurance solutions tailored to your retail business.
Retail insurance helps protect your business from many risks that can arise day to day. It can help provide protection for customer liability claims, product-related issues, employee-related risks, and losses that result from crime. It can also protect your inventory, equipment, point-of-sale systems, building, and other essential business assets.
The cost of retail insurance for Canadian businesses can vary depending on a number of factors related to your business and coverage needs. Our experienced advisors will work to ensure your business receives competitive quotes and provide tailored advice to help you get the best value for your money. We’ll also review risk management strategies and additional opportunities to lower your premiums without sacrificing your protection.
The price of your retail insurance is influenced by factors such as the size and location of your business, the age and construction of your premises, number of employees, and the value of your equipment and inventory. Your premiums will also be impacted by your insurance and claims history, and the type of retail insurance coverage you choose. Security measures such as alarm systems, security cameras, and other loss prevention measures may help reduce your coverage costs.
Retail insurance can help protect your business whether you sell products in a physical store, online, or both. Because retailers handle sensitive customer information and process online transactions, they can be especially vulnerable to cyberattacks. Cyber insurance is highly recommended for retailers to protect against cyber-related losses.
